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Business, Economy, Infographic

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

Saudi tourism on growth path despite hiccups

By Hilal Mir
July 2, 2023 11:52 pm
  • The $500 billion development on the Red Sea coast, which will include luxury resorts, residential developments, and a nature reserve, is one of the key tourism projects.
  • The Kingdom is also developing the UNESCO World Heritage Site of AlUla into a major tourist destination.

Dubai, UAE — Saudi Arabia has been investing heavily in tourism as part of its Vision 2030 plan to diversify the economy and reduce reliance on oil. The government has set a target of attracting 100 million tourists by 2030. The $500 billion development on the Red Sea coast, which will include luxury resorts, residential developments, and a nature reserve, is one of the key tourism projects. The $500 billion futuristic city NEOM being built in the northwest of the country will be a hub for tourism besides technology and innovation. The Kingdom is also developing the UNESCO World Heritage Site of AlUla into a major tourist destination. TRENDS takes a look at how tourism industry has evolved during the past more than a decade:

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