Click here to read our Saudi Arabia Economic Report and Investment Analysis 2023 online …
The Kingdom of Saudi Arabia is experiencing a period of sustained economic growth, outperforming other G20 nations in 2022. This expansion is attributed to higher global energy prices, resulting in a fiscal surplus and supporting diversification efforts and the non-oil sector.
In the push to embrace emerging technologies and leverage their potential commercial opportunities, Gulf countries have been launching new initiatives to bolster their growing domestic space industries. In June 2023 Saudi Arabia’s Council of Ministers approved the transformation of the Saudi Space Commission into a full government agency with the new heading of the Saudi Space Agency (SSA), underscoring…
While 2022 was a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnesseda second consecutive year of economic growth, with countries in the region investing in new technologies and projects that could herald greater integration in the years ahead. In April 2023 the IMF’s “World Economic Outlook” projected that…
In April 2023 the Economic Cities and Special Zones Authority (ECZA) announced the launch of four new special economic zones (SEZs) that will have far-reaching implications for the Kingdom’s industrial sector, trade performance and the broader economy. These include King Abdullah Economic City (KAEC) SEZ in Rabigh, Ras Al Khair SEZ in the country’s north-east, Jazan SEZ on the Red Sea coast and…
With a growing understanding of the importance of addressing environmental challenges, the Kingdom has increasingly aligned its policies, investment and initiatives with global climate change efforts. Vision 2030 addresses key sustainability issues, including harnessing abundant renewable resources, strengthening water preservation and safeguarding the environment. Although the journey has not been…
Etiquette There are social expectations for how interactions between unrelated men and women should be conducted. Businessmen should wait for a woman to offer her hand to shake in a meeting. In other situations, keep a respectful distance. Handshakes between men are common. Saudis pride themselves on their hospitality, and it is impolite to begin business without engaging in small talk first. In formal…
ASCOTT RAFAL Olaya St, PO Box 2396 Riyadh 13321 T: (+966) 11 408 8700 www.the-ascott.com enquiry.riyadh@the-ascott.com Rooms: 234 rooms, ranging from studio executive and one-bedroom deluxe, to one-bedroom premier and two-bedroom executive. Business & Conference Facilities: Business centre and five meeting rooms. Health & Leisure Facilities: Swimming pools, gym, sauna, steam room and…
