Saudi Arabia’s leisure tourism soars, drawing 17.5m visitors in 2024 

Saudi Arabia’s leisure tourism soars, drawing 17.5m visitors in 2024 
Between January and July of this year, Saudi Arabia saw 4.2 million visitors seeking entertainment and leisure experiences, a 25 percent increase from the previous year. Shutterstock
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Updated 29 September 2024
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Saudi Arabia’s leisure tourism soars, drawing 17.5m visitors in 2024 

Saudi Arabia’s leisure tourism soars, drawing 17.5m visitors in 2024 

RIYADH: Saudi Arabia’s leisure tourism sector has surged by 656 percent since 2019, welcoming 17.5 million international visitors in 2024, according to the Ministry of Tourism.  

This growth reflects the Kingdom’s ongoing efforts to enhance its tourism offerings and attract global travelers. 

The introduction of the first tourism visa in 2019 marked a pivotal moment for Saudi Arabia's travel industry, significantly boosting international tourism. Under Vision 2030, the Kingdom aims to welcome 100 million tourists by 2030 — a goal achieved seven years ahead of schedule in 2023. 

Between January and July of this year, Saudi Arabia saw 4.2 million visitors seeking entertainment and leisure experiences, a 25 percent increase from the previous year. Overall, the total number of international tourists in the first seven months of 2024 represents a 10 percent rise from 2023 and a 73 percent increase compared to 2019. These statistics underline the sector’s rapid expansion, driven by Vision 2030, which aims to transform the Kingdom into a global tourism hub. 

The UN World Tourism Barometer recognized the Kingdom as the fastest-growing G20 nation in terms of international arrivals and tourism revenues. 

Key initiatives fueling this growth include the development of new tourist attractions, such as the Diriyah Gate project, and substantial investments in luxury resorts along the Red Sea coast. 

Additionally, the Kingdom has prioritized cultural and historical tourism, with projects like the AlUla site and the Custodian of the Two Holy Mosques Cultural Heritage Program enhancing its appeal to travelers. 

These initiatives, along with a push for integrated tourism destinations, have positioned Saudi Arabia as a premier destination for travelers across the globe. 

The tourism sector is poised to significantly impact Saudi Arabia’s employment landscape. By 2030, it is projected to create approximately 1.2 million jobs for Saudis, particularly in hospitality, tour operations, and cultural heritage preservation.  

The National Transformation Program, part of Vision 2030, is designed to ensure that a substantial portion of these jobs are held by Saudi nationals. 

Currently, tourism is one of the largest sources of employment for citizens, with around 900,000 nationals already working in the sector. These developments indicate the sector’s potential to bolster the economy, reduce unemployment, and empower the local workforce.


Saudi Green Initiative unveils $60m in new environmental projects at COP16

Saudi Green Initiative unveils $60m in new environmental projects at COP16
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Saudi Green Initiative unveils $60m in new environmental projects at COP16

Saudi Green Initiative unveils $60m in new environmental projects at COP16

RIYADH: The fourth Saudi Green Initiative Forum began on Tuesday with the launch of five new groundbreaking environmental projects, valued at SR225 million ($60 million).

This announcement marks a significant step forward in Saudi Arabia’s ambitious environmental strategy, bringing the total investment in SGI initiatives to over $188 billion.

The new initiatives align with Saudi Arabia’s commitment to tackling climate challenges, focusing on reducing emissions, combating desertification, and preserving the Kingdom’s natural ecosystems. The announcement coincides with the 16th Conference of the Parties to the UN Convention to Combat Desertification, being held in Riyadh, and underscores Saudi Arabia’s growing leadership in global environmental efforts.

With 86 ongoing initiatives, the SGI is central to the Kingdom’s long-term vision of creating a more sustainable future. The program is focused on reducing emissions by 278 million tonnes annually and achieving net-zero emissions by 2060.

Saudi Arabia is also making significant strides toward its renewable energy targets, including plans to generate 50 percent of its electricity from renewable sources by 2030.

Since 2021, the Kingdom has planted over 100 million trees and rehabilitated 118,000 hectares of degraded land. By 2030, Saudi Arabia aims to restore 8 million hectares of land as part of its commitment to environmental regeneration.

The five new initiatives, led by Ma’aden, the Morooj Foundation in partnership with the private sector, and Tanmiah Food Co., will bolster efforts in afforestation, biodiversity conservation, and land rehabilitation. These projects are expected to plant millions of trees and mangroves, scatter 300 million seeds, and help reduce air pollution across the country.

According to a press release, these initiatives align with the broader Saudi Green Initiative goals, including the protection of 30 percent of the Kingdom’s land and marine areas by 2030.

Other notable conservation achievements include the successful rewilding of endangered species, such as the recent birth of four cheetah cubs — the first in Saudi Arabia in over 40 years — under the National Cheetah Conservation Strategy, it added

The continued focus on environmental restoration is integral to Saudi Arabia’s broader vision of safeguarding its natural resources and biodiversity for future generations.


Airbus opens regional headquarters in Riyadh

Airbus opens regional headquarters in Riyadh
Updated 1 min 48 sec ago
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Airbus opens regional headquarters in Riyadh

Airbus opens regional headquarters in Riyadh

RIYADH: Airbus has officially opened its new Regional Headquarters in Riyadh, reinforcing its long-term commitment to Saudi Arabia and the broader Middle East.

This expansion marks a key milestone in Airbus’ efforts to enhance its commercial, defense, space, and helicopter operations in the Kingdom and the region.

The new HQ highlights Airbus’ growing involvement in Saudi Arabia’s aviation and aerospace sectors, where the company has been active since the 1970s. Airbus currently employs over 350 people in Saudi Arabia, with 30 percent of its workforce being Saudi nationals. The company aims to further boost local talent development and technological expertise.

This move aligns with Saudi Arabia’s regional headquarters program, which offers incentives such as a 30-year corporate income tax exemption, withholding tax immunity, and various support services for businesses.

Eid Al-Qahtani has been appointed as the president of Airbus’ Riyadh-based regional headquarters. With more than 20 years of leadership experience — including his previous role as head of operations for Airbus Helicopters in Riyadh — Al-Qahtani will focus on strengthening partnerships with governments and stakeholders, as well as driving new business in the region.

Wouter Van Wersch, president of Airbus International, praised the appointment: “We are privileged to have Eid Al-Qahtani leading our operations in Saudi Arabia. His deep understanding of the country's goals and his proven leadership in the region make him the ideal person for this role.”

Earlier this year, Airbus signed an Industrial Participation agreement with Saudi Arabia’s General Authority for Military Industries, supporting the Kingdom’s Vision 2030 objectives.

This collaboration includes technology transfers and initiatives for industrial localization, such as SAMI Airbus Aircraft Maintenance Services — a joint venture between Saudi Arabian Military Industries and Airbus.

Al-Qahtani expressed his enthusiasm: “I am honored to lead Airbus from our new headquarters in Riyadh. Saudi Arabia is a strategically important market for us, and we are committed to supporting the Kingdom’s long-term goals while nurturing the next generation of aerospace leaders.”

Saudi Arabia’s efforts to attract international businesses are paying off. The Kingdom has already surpassed its 2030 target of 500 regional headquarters, with 540 international companies now established in Riyadh, according to Minister of Investment Khalid Al-Falih.

“Investors are coming not only for our vibrant market but also to explore the broader region,” he said.


Saudi Arabia a key player in global energy transition, says IRENA chief

Saudi Arabia a key player in global energy transition, says IRENA chief
Updated 03 December 2024
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Saudi Arabia a key player in global energy transition, says IRENA chief

Saudi Arabia a key player in global energy transition, says IRENA chief

RIYADH: Saudi Arabia is set to deepen its collaboration with the International Renewable Energy Agency to advance sustainability initiatives, according to a senior official. 

Speaking to Arab News on the sidelines of the UN Convention to Combat Desertification COP16, Francesco La Camera, director-general of IRENA, stated that Saudi Arabia is a key leader in transitioning away from fossil fuels, thanks to the Kingdom’s Green Initiative. 

He also highlighted global progress in renewable energy, noting that last year saw a record increase in capacity, driven by advancements in green hydrogen and sustainable biomass.

“We are working on signing an agreement with the GCC countries, so we will see when we will be ready. We will announce that we are working more closely with Saudi Arabia on our topics and our area of interest,” La Camera said. 

He added: “Just to give you an example now, ACWA Power is a Saudi company, but it is the elite company for decentralization. They invest in 12 different countries, and this is something amazing, and this is an effort also outside the country to work for the energy transition, providing water in a country that stresses all this.” 

The IRENA director-general stressed the importance of all nations, including Saudi Arabia, to increase efforts, with the expectation that updated national climate contributions will be submitted before February 2025. 

“Everyone has to do more, so we expect to see also the national climate contribution to be presented before February 2025. We also hope that our presence at COP will allow us to have more discussion and to increase the level of engagement of Saudi in the work of IRENA,” La Camera said. 

He added: “We think that, inevitably, Saudi is a leading country on all of this. It has the potential. It has the resources. It has the leadership to go faster and scale in the energy transition.” 

La Camera also outlined a strategy to address the structural challenges hindering the deployment of renewable energy at the speed and scale required to meet global energy and climate goals. 

The focus is on overcoming infrastructure barriers by creating interconnected, flexible, and balanced grids that can support a higher integration of renewable energy. 

This is where regional collaboration comes in, which is essential to achieving this objective. 

“I emphasize the role of the infrastructure. We need groups that are interconnected, flexible, and balanced to allow more renewables. Regional collaboration is crucial,” La Camera said. 

During his keynote speech at the Saudi Green Initiative, La Camera spoke about the need to design the market in a way that is more favorable for renewables. 

“We need to strengthen the capacity of the distribution to deal with this through a system that is more distributed instead of centralized, and also the need to reskill the personnel that is moving from the fossil fuel to the renewable area,” he said. 

La Camera concluded the interview by highlighting IRENA’s long-term planning efforts, which are essential for aligning financial investments with the needs of the renewable energy sector. 


Land degradation driving global instability and forced migration, warns Saudi envoy at COP16

Land degradation driving global instability and forced migration, warns Saudi envoy at COP16
Updated 03 December 2024
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Land degradation driving global instability and forced migration, warns Saudi envoy at COP16

Land degradation driving global instability and forced migration, warns Saudi envoy at COP16

RIYADH: Forced migration due to land degradation is a global challenge that needs to be tackled, according to Saudi Arabia’s climate envoy. 

Taking center stage at COP16 in Riyadh, Adel Al-Jubeir described the phenomenon as a driving force behind security crises, highlighting food, air quality, and biodiversity as areas of concern. 

Addressing delegates, Al-Jubeir painted a stark picture of the cascading impacts of degraded land, calling for unified global action to halt the alarming trend.

“Land degradation impacts every single human being,” he said, linking the loss of productive land to the displacement of millions and the destabilization of entire regions. “When people cannot grow food, they migrate. This migration often leads to tension and conflict in the receiving areas, creating a cycle of dislocation and violence.” 

The figures are sobering, with 100 million hectares of land lost annually — an area the size of Egypt — while the global population continues to rise, intensifying pressure on diminishing resources.

Al-Jubeir emphasized that addressing land degradation is a matter of environmental urgency and a cornerstone of global security. “This is an issue that touches every aspect of our lives — food security, national security, migration, air quality, and biodiversity,” he said, urging nations to collaborate on solutions to reverse degradation and restore the Earth’s ability to absorb carbon.

The discussion was further elevated by Ibrahim Thiaw, executive secretary of the UN Convention to Combat Desertification, whose address highlighted the profound human toll of land degradation.

“People do not migrate because they want to; they do so because they have no choice,” he said, he described how the loss of fertile land compels millions to flee their homes. 

Thiaw drew a direct line between environmental degradation and global displacement trends, citing data showing that up to 7 billion people could be affected by droughts by 2050. He linked 40 percent of interstate conflicts to disputes over natural resources, underscoring the link between environmental collapse and geopolitical instability.

His solution was clear and direct: land restoration. “Investing in land restoration is investing in keeping people safe at home,” Thiaw said, adding: “It is about giving them the dignity to produce food, educate their children, and live securely without being forced to migrate.” 

He called on global leaders to prioritize sustainable agricultural practices and ecological restoration, noting that these investments could break the cycles of forced migration and conflict.

The intersection of environmental sustainability, migration, and security presented at COP16 has underscored the need for urgent, united action. 

With Saudi Arabia championing this agenda on the global stage, and as negotiations proceed over the course of the next two weeks, the focus now shifts to translating bold commitments into tangible outcomes that safeguard communities and ecosystems worldwide.


Sovereign wealth funds commit to advancing Paris Agreement goals at Riyadh summit

Sovereign wealth funds commit to advancing Paris Agreement goals at Riyadh summit
Updated 03 December 2024
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Sovereign wealth funds commit to advancing Paris Agreement goals at Riyadh summit

Sovereign wealth funds commit to advancing Paris Agreement goals at Riyadh summit

RIYADH: Sovereign wealth funds have committed to intensifying their efforts to align financial investments with the goals of the Paris Agreement, marking a significant milestone in global climate finance.

At the 7th Annual One Planet Sovereign Wealth Funds CEO Summit in Riyadh, more than 140 global financial leaders, including French President Emmanuel Macron and Saudi Arabia’s Public Investment Fund Gov. Yasir Al-Rumayyan, presented strategies to accelerate the transition to a net-zero economy.

Held alongside COP29 and the Saudi Green Initiative, the summit brought together SWFs managing a combined total of $46 trillion in assets. These funds reaffirmed their dedication to integrating climate considerations into their investment portfolios.

In his speech, President Macron urged SWFs to play a more active role in driving sustainable investments. “Members of the OPSWF Network have the unique opportunity to lead a structural shift in global markets, steering investments toward climate resilience. By leveraging high-quality climate data and ensuring transparency, you are setting new standards for how markets assess sustainability,” Macron said.

He also highlighted the importance of innovative financial instruments, such as biodiversity credits, to help fast-track the transition to a sustainable global economy.

Al-Rumayyan echoed Macron’s call, emphasizing the PIF’s commitment to climate-aligned investments. “PIF is dedicated to achieving net-zero emissions by 2050, in line with Saudi Arabia’s goal of reaching net-zero by 2060. Renewables are a key focus for PIF, and we are working to localize renewable energy and hydrogen production to meet the target of developing 70 percent of the nation’s renewable energy capacity,” Al-Rumayyan stated.

The PIF governor also highlighted PIF's leadership in green finance, noting that it was the first sovereign wealth fund to issue a green bond and the first to launch a 100-year green bond.

“PIF, along with other OPSWF members, is fostering a sustainable and inclusive investment approach that ensures no one is left behind in the transition to net-zero,” he added.

A major theme of the summit was refining investment strategies to better incorporate climate considerations. Many OPSWF members have advanced their due diligence processes, using greenhouse gas emissions data and setting measurable climate-related targets. These efforts are geared toward scaling up investments in renewable energy, supporting green finance in challenging sectors, and utilizing AI technologies to enhance emissions reduction efforts.

During the summit, participants emphasized the need for greater transparency in climate data. OPSWF members agreed to improve climate-related disclosures, providing investors with clearer insights into risks and enabling them to align their portfolios with climate goals. A key initiative discussed was the development of platforms for real-time emissions tracking to support investment decisions.

Technology played a central role, with AI and climate data platforms highlighted as critical tools for improving investment efficiency and tracking emissions. The summit also focused on strategies for decarbonizing hard-to-abate sectors like energy, real estate, and hydrogen, with clean hydrogen identified as a pivotal solution for the global energy transition.

In addition, the summit addressed sustainable building practices to reduce emissions in real estate and launched initiatives to promote renewable energy investments in emerging markets, particularly in Africa. Participants committed to expanding nature-based solutions, aiming to deliver both long-term climate and financial benefits.