The accession of King Salman bin Abdulaziz Al Saud in January 2015 was the start of a new chapter for the Kingdom, and with the fall in global oil prices and continued regional turbulence there are undoubtedly challenges to be met. However, domestic stability, combined with the government’s commitment to major development projects and sustained focus on economic diversification, indicate a positive overall outlook for the country moving forward.
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The Guide contains listings of some of the leading hotels and resorts in Saudi Arabia, contacts for important government offices and services, and useful information for first-time visitors.
This chapter contains an overview of the legal framework in which local and foreign investors operate in Saudi Arabia. It includes a run-down of dispute resolution and bankruptcy rules, an outline of the regulations affecting foreign investors in Saudi Arabia, and an examination of the evolving regulatory framework in place across the Kingdom.
This chapter contains an overview of the tax framework in which local and foreign investors operate in Saudi Arabia, including an outline of the various tax systems in place for different ownership structures and a look at the June 2014 updates to the regulations for zakat, a religious tax based on sharia. This chapter contains a viewpoint from Jacques Fakhoury, KSA Country Leader, PwC.
Tourism is estimated to have directly contributed $12.7bn to the Saudi economy in 2013, equivalent to 1.7% of GDP, and this was forecast to rise by 5.2% to $13.3bn in 2014. Although religious tourism still dominates the industry, government efforts are under way to expand the sector’s offering, with opportunities available in various segments, including heritage and business tourism. Domestic...
The government represents the biggest provider of health care services in Saudi Arabia, accounting for about 75% of the country’s health spending. In 2015 the government increased its budget for health and social affairs by 48% to $42.64bn. Indeed the Kingdom’s health sector has witnessed rapid growth in recent times as the government looks to meet its 2020 targets of 264 hospitals, 70,694...
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