Located on Saudi Arabia’s Red Sea coast, Jeddah is the Kingdom’s second most-populous city after the capital Riyadh, and serves as a key commercial and logistics centre. Recently completed and ongoing developments to enhance Jeddah’s transport infrastructure will continue to strengthen the city’s position as a key thoroughfare for both cargo and visitors to the holy cities of Makkah and Medina...
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Chapter | Makkah & Medina from The Report: Saudi Arabia 2020
The holy sites of Makkah & Medina attract millions of pilgrims each year, and religious tourism remains central to their local economies. The world’s largest mosque, the Masjid Al Haram, also known as the Grand Mosque, is in Makkah and is home to the Kaaba, a shrine that Muslims consider the most sacred place in the world. While uncertainty remains surrounding Covid-19’s impact on the 2020...
The ongoing process of privatisation...
Chapter | Alternative Investments from The Report: Saudi Arabia 2020
The ongoing liberalisation of capital markets provides a positive long-term outlook for Saudi Arabia’s alternative investment segment. The Kingdom is a regional leader in mutual fund activity, with the deepest and most varied investment pool in the GCC. Nevertheless, some structural hurdles remain to fund expansion in Saudi Arabia. The lack of arrangements for the mutual recognition of fund...
Chapter | Capital Markets from The Report: Saudi Arabia 2020
Recent and ongoing reforms of Saudi Arabia’s capital markets have seen the Kingdom gradually liberalise its investment framework and overhaul the operations of the Saudi Stock Exchange (Tadawul) – the largest exchange in the GCC by market capitalisation. Looking to initial public offerings, the state’s privatisation programme – a central component of Saudi Vision 2030 – is likely to generate...
The Kingdom’s banking sector started 2020 on a promising note, with 13 local banks serving a population of over 30m people. However, low oil prices and the disruptive effects of the Covid-19 pandemic are likely to undermine asset growth over the course of the year, though the Kingdom’s banks have previously demonstrated the ability to remain profitable despite difficulties. Looking to the...