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Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Saudi tourism on growth path despite hiccups

  • 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: