Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Saudi Arabia’s travel account surplus reaches nearly $13.27bn

Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account.
  • This surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024.
  • Saudi tourism ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem,

Riyadh, Saudi Arabia — Saudi Arabia’s tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion ($13.27bn), a 7.8% increase over 2023, according to a Tourism Ministry press release.

The release said that this surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024, based on preliminary balance of payments data from the Saudi Central Bank.

The ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem, aimed at strengthening the industry and its contribution to national economic growth.

“This success also reflects the effective implementation of best practices in tourism development, enhanced services and products, and strong government collaboration, all advancing the goals of Saudi Vision 2030,” said the release.