August 27, Saudi Arabia saw more than $426m of investment in e-commerce projects last year, according to the General Authority for Small and Medium Enterprises (Monsha'at). In a report titled Small and Medium Enterprises and Promising Prospects for E-Commerce, Monsha'at provides insight into the e-commerce system in Saudi Arabia and government initiatives supporting the small and medium enterprises sector.
August 23, As many as 184 foreign companies moved their regional headquarters to Saudi Arabia after obtaining an investment license during the first half of 2024, according to a report of the Ministry of Investment of Saudi Arabia (MISA).
August 20, The King Salman International Airport Development Company (KSIADC), a subsidiary of the Public Investment Fund (PIF), has solidified strategic partnerships with four industry-leading firms to transform King Salman International Airport (KSIA) into a premier global hub for tourism, trade, and transportation.
August 20, Saudi Arabia is planning to build a version of the Louvre Museum in Riyadh according to a claim in a new BBC documentary. The Louvre of Saudi Arabia would feature artwork valued at close to $500million, with the gallery acting as a magnet for global tourism.
August 19, Saudi Arabia is keen to attract more foreign direct investment from Asia and Europe as the Kingdom continues its economic diversification journey. Saudi Arabia’s Assistant Minister of Investment Ibrahim Al-Mubarak said that the Kingdom is targeting $100 billion in FDI by 2030.
August 13, Foreign tourists visiting Saudi Arabia spent a record SAR 45bn ($12bn) on hospitality facilities in 2023, accounting for 32% of total tourist expenditure, the Saudi Ministry of Tourism reported. The ministry disclosed that foreign visitors' total spending reached SAR141bn last year, with SAR25.5bn (18%) allocated to shopping.
August 11, Minister of Investment announced that the updated Saudi Investment Law and its executive regulations will come into effect from the beginning of 2025. He said that the new law offers unprecedented opportunities for investors, and would enhance the Kingdom’s position as a premier global investment destination.
August 6, Danish shipping giant Maersk has opened its largest logistics park in the Middle East, situated at Jeddah Islamic Port, Saudi Arabia. The $250 million facility totals 225,000 square meters and is designed to strengthen Saudi Arabia's rapidly growing logistics sector and bolster non-oil trade.
August 4, A total of 8.6 million tourists from GCC visited Saudi Arabia during the year 2023 and their total spending accounted for more than SR15 billion, according to the Saudi Ministry of Tourism.