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Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

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: