Saudi Arabia recorded a 156 per cent increase in tourist arrivals last year compared with 2019 amid the recovery of the tourism sector following the pandemic, according to Saudi state news agency SPA, which quoted a World Tourism Organisation report.
The Middle East is the only region that achieved tourism growth over pre-pandemic levels, receiving 122 per cent more tourists last year than in 2019, the report from the UN agency said.
“The global rate of tourism recovery in 2023 stood at 88 per cent of pre-pandemic levels, registering an estimated 1.3 billion arrivals,” the report said.
“International tourism revenue reached $1.3 trillion, approaching 93 per cent of the $1.5 trillion achieved in 2019.”
Saudi Arabia, the world's biggest oil exporter, is transforming its economy under its Vision 2030 diversification agenda as it aims to reduce its dependence on oil, boost domestic industries and support jobs growth.
It is developing several large projects in line with this strategy, including Qiddiya, as well as Neom, a $500 billion futuristic city, the Red Sea Project and the Diriyah Gate heritage development.
Midway through the Vision 2030 implementation, “strong performance has been achieved against many of the economic goals”, a report by consultancy PwC in October found.
Saudi Arabia’s mega projects “have made significant progress in the last few years, moving from the conceptual phase to construction”, the report said.
The kingdom was fifth in a global ranking of international arrivals in 2023, returning to pre-Covid levels for inbound visitors and buoyed by Hajj pilgrims, investment in marketing the country as a tourism destination and efforts to diversify its economy, the Global Travel Trends report by travel analysis company ForwardKeys showed.
The kingdom followed the Dominican Republic, Colombia, Mexico and Greece in the top five, which was dominated by “sun and beach” destinations.
The UN agency estimated the direct contribution of the global tourism sector to gross domestic product last year at 3 per cent to reach $3.3 trillion, the SPA reported.
Saudi Arabia boosts tourism credentials – in pictures
The Madrid-based company estimated the global tourism industry to fully recover from the pandemic during 2024 and to further grow by 2 per cent compared with 2019.
Saudi Arabia topped G20 countries for number of arriving tourists last year, and ranked second among the fastest-growing tourist destinations in the world in the first three quarters of last year, according to SPA.
Various tourist destinations in the kingdom recorded a significant increase in the number of visitors, both domestic and foreign last year, and registered a record in spending by overseas visitors, according to data issued by the Central Bank of Saudi Arabia.
Tourism revenue in Saudi Arabia was worth more than 100 billion Saudi riyals ($26.7 billion) for the first three quarters of 2023, a 72 per cent annual increase, the central bank data showed.
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
The view from The National
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
BRAZIL SQUAD
Alisson (Liverpool), Daniel Fuzato (Roma), Ederson (Man City); Alex Sandro (Juventus), Danilo (Juventus), Eder Militao (Real Madrid), Emerson (Real Betis), Felipe (Atletico Madrid), Marquinhos (PSG), Renan Lodi (Atletico Madrid), Thiago Silva (PSG); Arthur (Barcelona), Casemiro (Real Madrid), Douglas Luiz (Aston Villa), Fabinho (Liverpool), Lucas Paqueta (AC Milan), Philippe Coutinho (Bayern Munich); David Neres (Ajax), Gabriel Jesus (Man City), Richarlison (Everton), Roberto Firmino (Liverpool), Rodrygo (Real Madrid), Willian (Chelsea).
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
