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GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
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GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo

The net inflow of foreign direct investment (FDI) in Saudi Arabia amounted to SAR 16 billion ($4.2 billion) during the third quarter of 2024, a decrease of 24% compared to the third quarter of 2023, the General Authority for Statistics (GASTAT) said.

FDI achieved a growth of 37% compared to the second quarter of 2024, which recorded SAR 11.7 billion ($3.1 billion), said statistical data published by GASTAT on Monday.

The volume of inflows amounted to about SAR 18 billion ($4.5 billion) during the third quarter of 2024, a decrease of 21% compared to the third quarter of 2023 which was approximately SAR 22.6 billion ($6 billion).

The volume of inflows recorded a decrease of 8% compared to the second quarter of 2024, which recorded SAR 19.4 billion ($5.1 billion).

The volume of outflows amounted to about SAR 2 billion during the third quarter of 2024, a growth of 27% compared to the third quarter of 2023, where the volume of outflows reached SAR 1.6 billion. While it recorded a decrease of 74% compared to the second quarter of 2024.

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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.