Search Site

Emirates half-year profit $2.5bn

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

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Saudi Arabia achieves 73 percent increase in international tourist arrivals: UN report

Saudi Arabia achieved a 56 percent growth in the number of international tourists in 2023.
  • According to the Saudi Press Agency (SPA), the Kingdom continued to top the list of G20 countries in the indicators of the growth rate of the number of international tourists
  • The Kingdom's various tourist destinations have witnessed a significant rise in international tourist numbers this year, with the number of tourist arrivals reaching 17.5 million

Riyadh, Saudi Arabia – Saudi Arabia achieved a 73 per cent increase in the number of international tourist arrivals, while international tourism revenues increased by 207 percent, according to the World Tourism Barometer by UN Tourism.

According to the Saudi Press Agency (SPA), the Kingdom continued to top the list of G20 countries in the indicators of the growth rate of the number of international tourists and the growth rate of international tourism revenues according to the latest available data for the first seven months of 2024 compared to the similar period of 2019.

The Kingdom’s various tourist destinations have witnessed a significant rise in international tourist numbers this year, with the number of tourist arrivals reaching 17.5 million.

The Kingdom achieved a 56 percent growth in the number of international tourists in 2023 compared to 2019, with the number of tourists reaching 27.4 million. This placed the country at the top of the UN Tourism Data Dashboard in the index of the growth rate of international tourists for major tourist destinations in 2023.

Additionally, the travel account in the balance of payments recorded a historic surplus of 48 billion riyals in 2023, marking an annual increase of 38 percent.

GACA report

A report from the General Authority of Civil Aviation (GACA) on airport performance in Saudi Arabia revealed that King Khalid International Airport in Riyadh ranked first in the category of airports handling over 15 million passengers annually, achieving an 82% compliance rate. Following closely behind was King Abdulaziz International Airport in Jeddah at 82%.

The kingdom’s travel account in the balance of payments recorded a historic surplus of 48 billion riyals in 2023, marking an annual increase of 38 percent..

Airports are assessed based on 11 operational performance standards, which align with strategic objectives to enhance services and ensure a seamless traveller experience at Kingdom airports. The report highly ranked King Khalid International Airport, Prince Mohammed bin Abdulaziz International Airport in Madinah, Abha International Airport, Al-Ahsa International Airport, and Gurayat Airport.

GACA categorizes airports for performance evaluation based on annual passenger numbers, ensuring a transparent approach.

Prince Mohammed bin Abdulaziz International Airport tied for first place in the category of international airports serving 5 to 15 million passengers annually, with a 91% compliance rate. King Fahad International Airport followed with an 82% compliance rate.

In the 2 to 5 million annual passenger category, Abha International Airport and King Abdullah bin Abdulaziz Airport in Jizan demonstrated a 100% compliance rate. However, Abha International Airport outperformed King Abdullah bin Abdulaziz Airport by surpassing higher targets in the specified evaluation criteria.

In the category of less than 2 million passengers annually, Al-Ahsa International Airport achieved a 100% compliance rate, outperforming its competitors regarding average waiting time for departing and arriving flights.

Gurayat Airport came first in the domestic airport category, with a 100% compliance rate. It outperformed all competing airports regarding average waiting time for departing and arriving flights.

GACA evaluates airport performance through operational performance standards focused on critical passenger touchpoints. These include check-in, security, passport control, customs, baggage claim, and assistance for passengers with reduced mobility (PRM). These metrics ensure a seamless and efficient travel experience for all passengers and are aligned with international best practices.