MUST-READS

• Meet the Power Players Leading Saudi Arabia’s Cultural Boom

  Dozens of new art institutions are in the works as part of Vision 2030, a sweeping trillion-dollar initiative to reduce oil dependence by expanding tourism, entertainment, and technology. Among these is the recently opened Diriyah Art Futures (DAF), a digital-art focused institution that is part of the $63 billion Diriyah Gate project, which aims to transform the heritage site on the outskirts of the kingdom’s capital city, Riyadh, into a cultural tourist destination. Meanwhile, in the ancient desert region of AlUla, the Contemporary Art Museum, which is being developed in partnership with Paris’s Centre Pompidou, set to open in 2027. On the west coast, the Red Sea Museum in Jeddah, slated to open before 2030, will showcase historical and contemporary works of art.

• Saudi Arabia Bans 1-Year Visit Visa for 14 Countries to Curb Illegal Hajj Pilgrims

  Saudi Arabia has introduced a new visa policy restricting travelers from 14 countries to single-entry visas. The decision, effective February 1, 2025, aims to curb unauthorized Hajj pilgrims entering through long-term visit visas. The affected countries include Algeria, Bangladesh, Egypt, Ethiopia, India, Indonesia, Iraq, Jordan, Morocco, Nigeria, Pakistan, Sudan, Tunisia, and Yemen. The move suspends the 1-year multiple-entry visa indefinitely for tourism, business, and family visits. Under the new rules, visitors from these 14 countries can only apply for single-entry visas. These visas will have a 30-day validity with a maximum stay of 30 days. The government has clarified that this policy does not affect Hajj, Umrah, diplomatic, or residency visas.

• Saudi Arabia Wants To Supply Europe With Green Hydrogen

  With global interest in hydrogen accelerating, he sees the project as especially well placed to capitalize on Saudi Arabia’s natural advantages. “We have the scale, location, and the partnerships in place that give us a significant lead,” he said, describing NGHC as a potential model for Saudi Arabia’s broader push into renewable energy and a significant part of Vision 2030’s economic transformation goals, NGHC has signed a 30-year distribution contract with Air Products to bring its green hydrogen to international markets in the form of ammonia, which makes it easier to transport and distribute. NGHC is not the only company in Saudi Arabia that is making green hydrogen a central part of its future. Securing Energy for Europe (SEFE) in Berlin, an instrumentality of the German government, has signed a letter of intent with Saudi-based ACWA Power to supply it with 200,000 tons of green hydrogen beginning in 2030. Is there a need for so much green hydrogen? One steel plant in Duisburg is expected to require 143,000 tons of it per year.

• Economic diversification, mega events and culture position Saudi Arabia for tourism boom

  Saudi Arabia’s tourism sector has seen immense growth over the past decade, with substantial efforts to reshape perceptions and open the doors to international visitors. Initiatives such as the introduction of tourist visas in 2019 and the development of large-scale projects like NEOM, the Red Sea Project, and Qiddiya have been central to this strategy. Saudi Arabia has committed over $800 billion to infrastructure development, including world-class airports, the expansion of the Riyadh Metro system, and the creation of luxury and mid-tier hotels. These investments are set to accommodate the influx of visitors, not just during these events but as part of the long-term tourism strategy. Tourism’s contribution to Saudi Arabia’s GDP is projected to rise from 3% in 2019 to 10% by 2030. The long-term economic impact from events like Expo 2030 and the World Cup will generate billions in revenue, particularly for sectors such as hospitality, retail, and transportation. However, the economic benefits will not be limited to these events but will be a sustained growth trend due to ongoing diversification efforts under Vision 2030.

• Industry Minister: Saudi Arabia Seeks to Enhance Partnership with India in Strategic Industries

  Minister of Industry and Mineral Resources Bandar Alkhorayef stressed Saudi Arabia’s commitment to enhancing its strategic partnership with India across key economic sectors, particularly industry and mining. The minister made his remarks while chairing a roundtable meeting with leaders from India's private sector in New Delhi. Alkhorayef highlighted that the Kingdom is taking serious steps to boost collaboration in vital industries, including automotive, medical industries, biotechnology, chemicals, petrochemicals, machinery, and renewable energy.

• Saudi Arabia’s Stock Market Expects an 8% Growth, Driven by Key Sectors

  Healthcare is one of the main sectors that contribute to the market profits. SNB Capital suggests that healthcare profits will rise by 23% in 2025, compared to an 11% increase in 2024. This development is linked to a 20% revenue increase due to new expansions easing pressure on profit margins. Currently, some government initiatives aim to privatize parts of the healthcare system, and they play a significant role. The Saudi government hopes that the private sector will represent 45% of healthcare spending by 2030. The tourism and construction sectors are increasingly influential in reshaping Saudi Arabia’s economy. In 2023, the tourism sector contributed $118.4 billion to the country’s GDP, accounting for 11.5% of the total economy.

• Trump gives Saudi Arabia cause to pause joining BRICS

  It was posited here in January 2024 when the country first revealed that it hadn’t yet accepted the group’s official membership invitation, saying this “is due to Western perceptions about this association, Iran’s involvement in the Red Sea Crisis, and Israeli-US pressure,” which still holds true. Regarding the first, Saudi Arabia would arguably feel uncomfortable with its name and national brand being included in the plethora of agenda-driven promotional materials misportraying BRICS as an anti-Western alliance. The Kingdom used to be solidly in the Western camp but has taken a page from India’s book in recent years by multi-aligning between them and what Russia now calls the “World Majority.”

• Saudi Arabia’s former spy chief blasts Trump’s Gaza proposal for ‘ethnic cleansing’

  “What came out of Mr. Trump is not digestible. I respectfully decline to add more disrespectful comments to that, but it is a fantasy to think that ethnic cleansing in the 21st century can be condoned by world community that stays on its behinds and does not respond to that,” Prince Turki told CNN. “If he does come [to Saudi Arabia], he will get an earful from the leadership here about the unwisdom of what he is proposing and the downright unfairness and injustice that is really signified and totally placed in this proposal of ethnic cleaning from not only Gaza but what is happening in the West Bank,” Prince Turki said. Prince Turki also slammed Itamar Ben-Gvir, Netanyahu’s national security minister until the Gaza ceasefire deal was reached, as “the ultimate ethnic cleanser in Palestine.”

• Ahmed al-Sharaa’s Visit to Saudi Arabia and Turkey

  These visits are very important for al-Sharaa and Syria because they have the potential to shape the country’s future. First, al-Sharaa wants to increase his legitimacy as a leader and secure the support of regional countries for the new regime in Syria. His visits outside Syria as the country’s leader and his reception by prominent leaders in the region contribute to establishing his status and strengthening him. In this context, it is important to note that in recent weeks, many diplomatic delegations from around the world have visited Syria, including the Emir of Qatar, Tamim bin Hamad Al-Thani, who visited the country on January 30.

• Saudi Arabia’s non-oil private sector grows at decade-high pace in Jan, PMI shows
  Saudi Arabia's non-oil business sector expanded at its strongest pace in just over a decade in January, driven by a surge in new orders and robust business activity, a survey showed on Tuesday. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) rose to 60.5 last month from 58.4 in December, marking its highest level since September 2014. Readings above 50 denote growth. The rapid growth was largely attributed to the fastest rise in new orders since June 2011, with the New Orders Index accelerating to a reading of 71.1 in January from 65.5 the previous month.

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