A report revealed that Saudi Arabia’s civil aviation sector contributes $53 billion to the economy, with $20.8 billion from aviation activities and $32.2 billion from tourism. It also provides 241,000 jobs in aviation and 717,000 in tourism. The first “State of Aviation Sector in the Kingdom” report, set to be released at the Future Aviation…
In the first quarter of 2024, the General Entertainment Authority granted over 1,600 licenses for entertainment activities, marking a notable 28% increase compared to the same period last year. These licenses encompass a wide range of entertainment offerings, including events, amusement parks, and talent management services. Additionally, 97 new entertainment destinations received licenses, drawing in…
Moroccan Minister of Industry and Trade, Ryad Mezzour, revealed that the expected investment in Morocco’s electric car battery industry ranges from $45 to $50 billion, aimed at establishing a comprehensive battery production infrastructure. During a recent interview, at the Qatar Economic Forum, Mezzour explained Morocco’s plan to double its production capacity for both traditional and…
“Cruise Saudi Arabia,” fully owned by the Saudi Public Investment Fund (PIF) and focused on developing cruise tourism in the Kingdom, just launched its sea trips line, “Arwa Cruise.” You can now book various excursions instantly through their website. “Arwa Cruise” is a massive floating resort, 335 meters long, offering 1,600 cabins, including sea-facing balconies,…
The WTT Grand Smash is the premier professional table tennis tournament organized by the World Table Tennis (WTT). This year, it’s being held in Saudi Arabia under the name Saudi Smash. Scheduled from May 4th to May 11th, 2024, the event is taking place at the King Abdullah Sports City, marking the first time a…
Lucid Motors released its Q1 financial results this week, showing some progress compared to last year despite still experiencing significant losses. Download Lucid Q1 2024 Results Report In the latest report, Lucid revealed a net loss of $684.7 million, a decrease from $779.5 million in the same period last year. The company, known for luxury…
Today, the first flight from China Airlines landed safely in Riyadh, Saudi Arabia’s capital. This event is significant because it highlights the strengthening bond between Saudi Arabia and China. This new flight route links Beijing’s airport with King Khalid International Airport in Riyadh, offering over 45,000 seats annually. It’s great news for Chinese travelers interested…
The board of directors at Al Qiddiya Investment Company has announced the unveiling of “Aquaribia” today, marking the opening of the Kingdom’s first-of-its-kind water amusement park, also the largest in the region. Situated in the heart of Al Qiddiya city, “Aquaribia” complements the existing “Six Flags Al Qiddiya.” “Aquaribia” stands out as the Kingdom’s first…
The financial data from the Saudi Ministry of Finance for the first quarter of 2024 reveals revenues totaling 293.4 billion riyals, with expenditures reaching 305.8 billion riyals, resulting in a deficit of 12.4 billion riyals. → Download Saudi 2024 Q1 Budget PDF During the first quarter, oil revenues amounted to 182 billion riyals, showing a…
Saudi Arabia saw more people using the internet in 2023, with 99% of users, mostly split evenly between men and women. A report called “Saudi Internet” looked at how people use the internet in the Kingdom. It found that over half spend 7 hours or more online each day, mostly at home or while out….