Saudi tourists are one of the top five spenders in the United Kingdom, said prominent businessman Khaled Olayan during an event to honor Fiona Woolf, lord mayor of London and global ambassador for UK-based financial and business services, at the Alkhobar Movenpick on Tuesday.

The number of Saudis visiting London is set to go up by 22 percent annually, he said.

“Last year, Saudis spent some 2.5 billion pounds, 75 million pounds of which were on hotels alone. Many families spend up to three months or even longer during their visit,” said Olayan. “Saudis account for the largest proportion of GCC citizens who receive visas every year. In fact, more than 100,000 visas were issued last year.”

He pointed out that there are now over 6,000 British companies actively exporting to Saudi Arabia and 200 UK-Saudi joint ventures worth 11 billion pounds.

“Around 30,000 British expatriates are currently working in British and Saudi companies here in Saudi Arabia,” he said. “According to British Council estimates, the UK earns about 700 million pounds per year from the more than 20,000 Saudi students attending British universities.”

Woolf told Arab News that this is her first visit to Saudi Arabia.

“The Eastern Province is a global powerhouse and has huge potential and resources, not only in terms of gas and oil, but also in terms of manpower. You have education, industry and fantastic people,” she said. “I represent the city of London, which, of course, is a leading financial capital. We have 250 banks, financial and professional services, business services and energy services. We also have high-tech health care and cars manufacturers such as Bentley, Jaguar and Land Rover. As such, we have ample opportunities for Saudi businessmen.”