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Saudi Airports Handle 128 Million Passengers in 2024, Marking 15% Growth

King Khalid International Airport in Riyadh (SPA) 
King Khalid International Airport in Riyadh (SPA) 
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Saudi Airports Handle 128 Million Passengers in 2024, Marking 15% Growth

King Khalid International Airport in Riyadh (SPA) 
King Khalid International Airport in Riyadh (SPA) 

Saudi Arabia’s aviation sector recorded robust growth in 2024, as airports across the Kingdom welcomed more than 128 million passengers—a 15 percent increase compared to the previous year. The surge comes as part of Riyadh’s broader push to establish itself as a global aviation hub in the Middle East, in line with the goals of Vision 2030.

According to the 2024 Air Transport Statistics Bulletin, issued by the General Authority for Statistics (GASTAT), international passenger traffic reached 69 million, up 14 percent year-on-year, while domestic travel saw a 16 percent jump, reaching 59 million passengers.

The expansion is being driven by the National Aviation Strategy and the Air Connectivity Program, alongside efforts to privatize and modernize airport infrastructure. The Kingdom aims to connect to 250 destinations globally by 2030 via 29 airports, with a targeted annual capacity of 330 million passengers and 4.5 million tons of air freight.

The Air Connectivity Program has played a central role in these efforts, helping attract 12 new international carriers and opening more than 60 new routes through 18 newly connected cities. Infrastructure developments in 2024 included the expansion of Al-Ahsa International Airport and the opening of a new international terminal at Taif International Airport.

King Abdulaziz International Airport in Jeddah maintained its position as the busiest airport in the Kingdom, handling around 49 million passengers—an increase of 14 percent. Riyadh’s King Khalid International Airport followed with 37.6 million passengers, up 18 percent, while Dammam’s King Fahd International Airport recorded 12.8 million passengers, reflecting a 15 percent rise.

The total passenger-handling capacity of Saudi airports reached 126 million in 2024. King Abdulaziz International led with a capacity of 50 million passengers annually, operating at 98 percent utilization—an 11 percent increase from 2023. King Khalid International ranked second with a capacity of 39 million and a 96 percent usage rate.

In terms of international routes, King Abdulaziz International topped the list with 369, a 1 percent increase over the previous year. It was followed by Prince Mohammed bin Abdulaziz International Airport in Medina with 272 routes (up 5 percent), while King Khalid International saw a 6 percent decline to 165 routes. King Fahd International registered 85 international routes, down 8 percent.

On average, Saudi airports handled 189,000 international passengers and 162,000 domestic passengers per day. Domestic flights rose by 12 percent to 474,000, while international flights increased by 10 percent to 431,000.

King Abdulaziz International also led in total flight operations, with around 290,000 flights in 2024. King Khalid International followed with 274,000 flights, and King Fahd International reported 105,000.

 

 

 

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Business

Syrian Central Bank Allows Dealings With Global Electronic Payment Companies

Key benefits include allowing Syrians entering the country to use their international bank cards domestically (X).
Key benefits include allowing Syrians entering the country to use their international bank cards domestically (X).
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Syrian Central Bank Allows Dealings With Global Electronic Payment Companies

Key benefits include allowing Syrians entering the country to use their international bank cards domestically (X).
Key benefits include allowing Syrians entering the country to use their international bank cards domestically (X).

The Central Bank of Syria on Monday issued a decision allowing banks and local electronic payment companies to work with global electronic payment companies such as Visa and Mastercard, in a move seen as a step toward modernizing financial infrastructure and expanding digital inclusion.

Central Bank Governor Abdulkader Husrieh said in a statement the decision marks a strategic shift toward a more advanced digital economy and will help facilitate money transfers and payment transactions for Syrians both inside the country and abroad.

He added that the move opens the door to a new phase in the development of electronic payment systems and strengthens Syria’s integration into the global financial system after years of reliance on limited, traditional tools.

Husrieh said the decision enables banks and local electronic payment providers to broaden their services with more advanced and secure payment solutions for individuals and businesses.

Key benefits include allowing Syrians entering the country to use their international bank cards domestically, enabling wider use of Syrian-issued cards abroad, expanding the adoption of electronic payments, reducing reliance on cash, improving user experience, supporting e-commerce and startups, and enhancing the security and reliability of financial transactions.

The governor added that cooperation with global electronic payment companies will help transfer expertise and modern technologies to the local market, improving the efficiency and competitiveness of the financial sector.

The central bank said it continues to implement a package of reforms aimed at rebuilding financial institutions and strengthening monetary policy tools, alongside upgrading electronic payment systems and expanding the digitalization of banking services, in a bid to restore international financial connectivity and create a more efficient and transparent environment to support economic recovery.

Business

Gold Eases as Inflation Jitters, Iran War Cloud US Rate Outlook

AFP: A photo shows gold bangles and necklaces for sale at a gold shop at the Grand Baazar in Istanbul
AFP: A photo shows gold bangles and necklaces for sale at a gold shop at the Grand Baazar in Istanbul
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Gold Eases as Inflation Jitters, Iran War Cloud US Rate Outlook

AFP: A photo shows gold bangles and necklaces for sale at a gold shop at the Grand Baazar in Istanbul
AFP: A photo shows gold bangles and necklaces for sale at a gold shop at the Grand Baazar in Istanbul

Gold prices nudged lower in thin trade on Monday, weighed down by inflation worries that clouded the US monetary policy outlook, while markets awaited developments in US-Iran peace negotiations.

Spot gold was down 0.5% at $4,588.71 per ounce, as of 0655 GMT. US gold futures for June delivery fell 0.9% to $4,600.60.

Markets in China, Japan and the UK are closed for holidays.

Federal Reserve Chair Jerome Powell closed out eight years as head of the US central bank last Wednesday with interest rates on hold and rising concern about inflation, Reuters reported.

"Gold is still feeling the lingering effects of last week's hawkish Fed messaging, particularly the notable dissenting voices pushing back against further easing," said Tim Waterer, chief market analyst at KCM Trade.

Federal Reserve officials, who dissented against the policy statement last week, said the oil price shock from the Iran war means the US Fed should be clear it can no longer lean towards interest rate cuts, with a rise in borrowing costs possible in the future.

Increasing oil prices could encourage central banks to hold interest rates higher for longer, which would pressure non-yielding assets such as gold.

Oil prices eased but held above $100 a barrel, with the lack of clarity around a potential US-Iran peace deal remaining in focus.

President Donald Trump said the United States would start helping to free ships stranded in the Gulf by the US-Israeli war on Iran from Monday, as a tanker reported being hit by unknown projectiles in the Strait of Hormuz.

Iranian state media reported that Washington conveyed its response to Iran's 14-point proposal via Pakistan, and that Tehran was now reviewing it.

"We see gold largely trading in a $4,400-$5,500 range by year-end. The upper end of that range would require a durable reduction in Middle East tensions and some easing of inflation pressures, while persistent high oil prices would keep the metal toward the lower half of the range," Waterer added.

Spot silver fell 0.6% to $74.91 per ounce, platinum held steady at $1,989, and palladium was down 0.4% at $1,519.78.

Business

Global LNG Exports Fall to Two-Year Low

Maritime tracking data indicates that global LNG shipments decreased to 33 million tons last month (X)
Maritime tracking data indicates that global LNG shipments decreased to 33 million tons last month (X)
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Global LNG Exports Fall to Two-Year Low

Maritime tracking data indicates that global LNG shipments decreased to 33 million tons last month (X)
Maritime tracking data indicates that global LNG shipments decreased to 33 million tons last month (X)

Global exports of liquefied natural gas fell to the lowest in almost two years in April, as the war in the Middle East disrupted flows of the super-chilled fuel through the Strait of Hormuz, Bloomberg reported.

Shipments declined to about 33 million tons, the lowest level since May 2024, according to ship-tracking data compiled by Bloomberg.

The drop came after Qatar — the second-largest exporter last year — halted production following strikes on the world’s biggest plant by Iran in March, with the damage set to take years to repair.

Despite the ceasefire in the war with Iran, the Strait of Hormuz, through which about one-fifth of the world's oil and LNG supplies pass, remains closed. Since the start of the conflict, only one LNG tanker has transited the strait.

Nevertheless, lost volumes have been partially offset by new production elsewhere in the world. According to ship-tracking data compiled by Bloomberg, April shipments were down only 7 percent from the previous year, suggesting that increased output from suppliers, including the United States and Canada, has partially compensated for the reduced volumes from Qatar.

In the United States, the massive Golden Pass LNG terminal shipped its first cargo last month. Qatar also delivered some volumes to Kuwait, which can export them without transiting the Strait.