Saudi Arabia is ranked third place out of all countries in the world in terms of the ease of paying taxes, a remarkable achievement for a G-20 country with an annual GDP of over $700bn. Provided that businesses make a commitment to comply with all existing regulations with due care, they can enjoy the advantages of the system. Tax regulations...
To what extent can pilgrims coming to the Kingdom for Hajj and Umrah be encouraged to combine leisure tourism with these religious events?
Good news came for pilgrims and the tourism industry in November 2013, when it was announced that a new visa allowing Umrah pilgrims to travel domestically after completing their religious rituals would be issued for the 2013/14 season, a move which is expected to be a boon to tourism and associated industries.
Recognising the important role of tourism in achieving the wider goals of development in Saudi Arabia, including job creation and increased economic diversity, considerable efforts are being made to expand the industry. Under the leadership of Prince Sultan bin Salman, president of the Saudi Commission for Tourism and Antiquities (SCTA), there...
Of the SR100bn ($26.66bn) that the government’s tourism strategy estimates will be needed over a 10-year period to develop the industry, the state expects to cover about a third, with the remaining two-thirds to be provided by the private sector. Public-private partnerships (PPPs) are seen as the way to achieve this, and thus the government is...
With the health care and pharmaceuticals sectors worth $18.3bn and $5.1bn in 2012 and 2013, respectively, according to reports from Alpen Capital, Saudi Arabia is a key target market for international businesses operating in both spheres. Statistics from the European Commission (EC), demonstrate the rapid growth in pharmaceutical exports from...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×