Economy

INTERCONTINENTAL

RIYADH

King Saud Rd, PO Box 3636 Riyadh 11481
T: (+966) 11 465 5000
www.intercontinental.com/riyadh
reservations.icriyadh@ihg.com

Rooms: 275 rooms, with 140 standard rooms, 39 junior suites, five large executive suites, two royal suites, 56 club rooms, 10 presidential suites, five club royal suites and...

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...

Russia’s invasion of Ukraine in February 2022 caused disruptions across the global economy, from food to energy, and prompted an increase in the number and sophistication of cyberattacks – exacerbating similar impacts from the Covid-19 pandemic.

Saudi Arabia’s defence expenditure was the sixth highest worldwide in 2021, behind the US, China, India, Russia and the UK. The localisation of industry, and enhanced research and development (R&D) are core to Vision 2030, the government’s long-term blueprint for development. Given the defence sector’s traditional prominence in the annual budget, it is among the areas...

Vision 2030 was launched in 2016 with the aim of renewing the social contract between the long-ruling Al Saud family and various segments of society, as well as addressing fiscal imbalances resulting from a reliance on oil revenue, low labour force participation rates and generous social benefits.

In June 2022 the UK and the GCC officially launched negotiations for a comprehensive trade deal to reduce or remove tariffs on a series of goods and services. Anne-Marie Trevelyan, former UK secretary of trade, met with Nayef Falah Al Hajraf, the GCC secretary-general, and representatives from the six GCC countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.