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Analysis

Global travel rebounds due to innovation and development
OBG
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The global tourism sector is gradually recovering from the impact of the Covid-19 pandemic. According to the UN Tourism’s World Tourism Barometer published in January 2024, international tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3bn international arrivals. This revival has been underpinned by the release of pent-up demand, increased air connectivity and a resurgence, especially…

Analysis

Biotech strategy strengthens Saudi Arabia’s talent pipeline
OBG
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Saudi Arabia’s government aims to transform the Kingdom into a biotech centre by 2040, aligned with its long-term development blueprint, Vision 2030. The global biotech market has grown considerably due to the potential to transform human health and enhance operations across health, agriculture and chemicals. Policy & Investment In 2024 the National Biotech Strategy (NBS) was launched to spur…

Analysis

Training programmes target workforce readiness in Saudi Arabia
OBG
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The education sector is undergoing a transformation to improve the workforce readiness of the Kingdom’s graduates. In order to reduce dependence on oil and gas revenues, the government is targeting an ambitious economic diversification agenda, which involves the expansion of the private sector. Previously, the public sector provided local graduates with the bulk of employment opportunities. In recent…

Analysis

Public initiatives support Saudi Arabia's housing market
OBG
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Under the banner of its Vision 2030 programme – a far-reaching roadmap for economic diversification and modernisation – Saudi Arabia has set an ambitious target of 70% home ownership by 2030 and has enacted a comprehensive strategy to achieve this goal. The government’s proactive approach, underpinned by substantial public investment, market liberalisation and a host of supportive initiatives,…

Analysis

Green fuels provide sustainable future for shipping
OBG
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With fossil fuels still powering roughly 99% of global shipping, the sector is seeking to reduce emissions through cleaner fuel sources – including methanol, ammonia and wind – that could soon see increased use. Increased Investment In August 2022 Breakthrough Energy Ventures, a coalition of private investors founded by US tech entrepreneur Bill Gates, helped Danish start-up Blue World Technologies…

Analysis

Smart mobility solutions improve urban transport in the GCC
OBG
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The GCC’s population more than doubled over the past 25 years, growing from 26.2m in 1995 to 56.4m in 2021, outpacing the global growth rate of 30%. Urbanisation has also accelerated across the region, driven by rapid economic development, migration and the concentration of economic activities in urban centres. By 2015 the GCC led Arab countries as the most urbanised subregion, with an urbanisation…

Analysis

Saudi Arabia and Bahrain bolster connectivity
OBG
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The transport links between Saudi Arabia and Bahrain have long played a crucial role in fostering economic, social and cultural ties across the Gulf region. The King Fahd Causeway has been a vital artery for trade and travel since its opening in 1986. The establishment of the King Fahd Causeway Authority in the early 2000s has led to significant upgrades, reflecting the deepening economic ties between…

Analysis

Technology enhances tourism in emerging markets
OBG
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As emerging markets develop new attractions and tap into new visitor source markets, they are leveraging technology and sustainable development in line with emissions targets. This strategic refocus comes as tourism numbers surpass pre-Covid-19 pandemic levels. According to the World Travel & Tourism Council (WTTC), travel demand is set to make 2024 a record-breaking year, with the sector projected…
Chapter

The Report: Saudi Arabia 2024: ICT & AI
OBG
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Saudi Arabia’s ICT sector, the largest in the MENA region, is valued at $44bn and contributes 4% to GDP. The sector’s growth is driven by digital transformation across government and industries. As part of Vision 2030, the Kingdom aims for a 19.2% digital economy contribution by 2025. Key initiatives include the Saudi Cloud Strategy and the Cloud Computing Special Economic Zone, supporting sectors…
Chapter

The Report: Saudi Arabia 2024: Country Profile
OBG
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Saudi Arabia holds 17% of global oil reserves and is the birthplace of Islam, giving it significant geopolitical importance. Since its independence in 1932 and the discovery of oil in 1938, the Kingdom has evolved into a key global player. As the only Arab member of the G20, Saudi Arabia leverages its strategic position between Africa and Asia for trade and cultural exchange. Under Vision 2030, the…