INSEAD Day 4 - 728x90

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

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: