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Saudi News Update: Week 3


A businessman is staying up to date by reading the news on a tablet

This week, Saudi Arabia announces investments of over $500 billion in developing innovative and environmentally friendly tourist destinations. Speaking at a session on expanding the scope of sustainable tourism, held at the Saudi House pavilion in Davos, they emphasized the vital role of the travel and tourism sector in driving economic growth, fostering diversification, and enhancing global cultural exchange. Al-Khateeb highlighted the remarkable achievements of Saudi Arabia's tourism sector and its dedication to environmental sustainability under the framework of Vision 2030. He cited projects such as AlUla and The Red Sea, showcasing how sustainability is integrated at every stage, from design to implementation.


In other news, Riyadh Season 2024 has surpassed 16 million visitors. In March 2024, at the end of the previous Riyadh Season, Alalshikh reportedly announced that there were 20 million visits. In January, at the halfway mark for the previous season, it stood at over 12 million. Launched in October, Riyadh Season has “captivated audiences with its diverse range of events and newly introduced areas, attracting visitors from the Kingdom and abroad.”


Economy, Budgets and Finance

Saudi Gazette: Saudi Arabia invests over $500 billion in developing environmentally friendly tourist destinations. Read Here 


Saudi Gazette: Saudi Crown Prince announces $600bn investment plan to strengthen economic partnership with the US. Read Here 


Alarabiya News: KSA and Italy signed $10 billion cooperation and industrial deals. Read Here 


Arabian Business: Saudi real estate prices up 3.6% in Q4. Read Here 


Defence and Security

Arab News: Saudi Arabia to host multinational ‘Spears of Victory 2025’ military exercise. Read Here 


Commercial

Arab News: Saudi to invest $32m in mining incentives to drive industry expansion. Read Here 


Arab News: KSA to showcase $100 billion aviation investment opportunities at WEF. Read Here 


Saudi Gazette: Saudi Arabia will host a regular World Economic Forum global meeting starting in 2026. Read Here 


Arab News: Saudi Arabia and Japan strengthen investment ties with strategic MoU. Read Here 


Social 

Arab News: Riyadh Season announces over 16 million visits. Read Here


Arab News: The King Abdullah University of Science and Technology wins Japan Prize for contributions to marine ecosystem research. Read Here 


Arab News: Saudi education spending surges 91.5% amid school return from midyear break. Read Here 


Arab News: Saudi Arabia’s emergence as a global sports capital is a winning strategy. Read Here


Arab News: Saudi Arabia champions youth as it drives talent development to fuel Vision 2030. Read Here

 

 

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