Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
As Saudi Arabia’s second-largest city, Jeddah serves as an important commercial centre and is also the setting for a series of important developments currently under way, which will secure its place on the map as a regional economic centre. While Jeddah already boasts the biggest seaport on the Red Sea and is the gateway to the holy cities of Makkah and Medina, it is also set to become home to...
The guide contains listings of some of the leading hotels and resorts in Saudi Arabia as well as contacts for important government offices and services. It also contains useful tips and information for business and leisure visitors alike.
Makkah and Medina are situated in western Saudi Arabia, near the coast of the Red Sea and roughly 350 km apart. The cities are home to Islam’s holiest sites, and are thus important to the religious lives of many of the world’s 1.2bn Muslims. Makkah is the birthplace of the Prophet Muhammad and the location of the Masjid Al Haram, also known as the Grand Mosque, which houses the Kaaba, a shrine...
Alternative asset activity in Saudi Arabia is taking place across an increasingly diverse range of investment instruments. The Kingdom is a regional leader in mutual fund activity, with the deepest and most varied investment pool in the GCC. The size of the Kingdom’s fund market means that its key participants are some of the largest and most influential in the wider MENA financial sector....
As the world’s largest military spender per capita, Saudi Arabia is committed to maintaining the balance of power in the Middle East. It is also examining ways to balance its books by ensuring that a growing percentage of spending is on hardware locally produced within the Kingdom. Vision 2030 aims to localise spending on military equipment from its 2017 level of 2% to more than 50% by 2030....
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