“In the past six years, government reforms have also clarified which industries are open to women and what kinds of hours women can work, criminalized sexual harassment, guaranteed equal pay and retirement benefits, and prohibited employers from terminating pregnant workers. The net effect has been an unprecedented increase in the economic opportunities available to women across Saudi society: the number of women employed in the private sector is now eight times what it was a dozen years ago, with much of the rise driven by women with high school diplomas.” Jennifer Peck, Working Women Are Changing Saudi Arabia, [Foreign Affairs]
“The Kingdom renews its call to the international community to recognize the independent State of Palestine, on the 1967 borders, with East Jerusalem as its capital. This will enable the brotherly Palestinian people to obtain their legitimate rights” and pave the way for “comprehensive, just, and lasting peace,” state news agency SPA quoted Crown Prince Mohammed Bin Salman as saying. MBS urges international community to recognize independent Palestinian state [Al-Arabiya]
“A total of 1,833,164 pilgrims performed the annual pilgrimage, 1,611,310 of whom were from outside the Kingdom with domestic pilgrims-both citizens and residents-numbered at 221,854. The number of male pilgrims this year reached 958,137, while female pilgrims totaled 875,027, GASTAT said.” Hajj 2024 in numbers: Annual pilgrimage draws over 1.83 mln worshipers [Al-Arabiya]
“Saudi Arabia’s unprecedented economic transformation is progressing well. Prudent macroeconomic policies, transformative changes—including through fiscal reforms and in the regulatory business environment—and strong domestic demand have helped prop up non-oil growth. Inflation remains contained. Spending reprioritization and recalibration of major spending programs are ongoing. Efforts to diversify the economy have started to bear fruit.” Saudi Arabia: Concluding Statement of the 2024 Article IV Mission [IMF]
“Road trips give you time to think. Saudi surprised me. Everyone I met had been open and friendly. I’d driven through deserts, along the coasts, through mountains and oases, much more variety than I had imagined. In the culture too – from the street food of Jeddah to the rock carvings of Wadi Disah.” Alice Morrison, I drove across Saudi Arabia as a solo woman – and what I discovered may surprise you [Yahoo]
“The E-commerce market in Saudi Arabia is expected to grow by 10.21% on annual basis to reach US$20.7 billion in 2024, growing steadily over the forecast period, recording a CAGR of 8.53% during 2024-2028. The E-commerce Gross Merchandise Value in Saudi Arabia will increase from US$18.8 billion in 2023 to reach US$28.7 billion by 2028.” Saudi Arabia Ecommerce Market Databook 2024 – The Registration of e-Commerce Firms has Grown at a Rapid Rate in 2023 and is Continuing in 2024 [Yahoo]
“1,547,295 pilgrims have so far arrived in Saudi Arabia for this year’s Hajj season, the Kingdom’s General Directorate of Passports announced on Tuesday. 1,483,312 pilgrims arrived via air travel. 59,273 pilgrims entered through land ports while the Kingdom’s sea ports received a total of 4,710 pilgrims.” Over 1.5 million pilgrims arrive in Saudi Arabia for annual pilgrimage [Al-Arabiya News]
“GCC governments have issued about $45 billion in bonds and sukuk so far this year, putting the region’s sovereigns on track for the most debt issuance since 2020. The volume has increased significantly this year, with the first half of 2024 alone reaching well above the $33 billion issued in the whole of last year.” Saudi Arabia debt issuance ramps up to finance Vision 2030 projects [The National]
“Economic growth, burgeoning population, and modernization have made Saudi Arabia the most active player in the Middle East construction market, with the real estate sector leading the kingdom’s projects market in 2023.” Laura Morgan, JLL’s market intelligence lead for the region, Saudi Arabia leads global construction activity with $1.5 trillion pipeline [Fast Company Middle East]
“The expected climate for Hajj this year is an increase in average temperatures of one and a half to two degrees above normal in Makkah and Madinah. We expect relative humidity of 25 per cent, and although we expect a low probability of rain during most days, there’s some forecast of heavy rains in the high plains of Taif that may then make its way to the holy sites.” National Meteorology Centre chief Ayman Ghulam, Saudi Arabia warns of a hot Hajj this year with temperatures of 48°C [The National]
