“The Saudi unemployment rate is at a historical low. Amid an increase in labor force participation, total unemployment dropped to 4.8 percent by end-2022—from 9 percent during Covid—reflecting both an increase in Saudi workers in the private sector and expatriate workers (mostly in the construction and agricultural sectors) rising back above pre-Covid levels. Youth unemployment was halved to 16.8 percent in 2022 over the past two years while female participation in the labor force reached 36 percent in 2022, exceeding the 30 percent target set under the authorities’ Vision 2030 reform agenda.”
IMF Executive Board Concludes 2023 Article IV Consultation with Saudi Arabia [IMF]
“The Saudi Royal Reserves, also known as the King Salman bin Abdulaziz Royal Natural Reserve (KSRNR), is the largest natural reserve in the Kingdom. Spanning over 130,000 square kilometres, the reserve has geographical diversity and monuments so rare they date back to 8,000 BC. (Remember that for your next Saudi staycation.) Sitting pretty next to the Jordan-Saudi border, the reserves are located within four regions: Hail, Tabuk, Al Jowf and the Northern borders.”
Saudi is planting 80 million new trees [Time Out Riyadh]
“The number of palm trees in the Kingdom exceeds 33 million, accounting for nearly 27 percent of the world’s total palm trees.”
Saudi Arabia’s date festivals reveal a vibrant economy, culture [Arab News]
“The Middle East hotel construction pipeline hit an all-time high in the second quarter of 2023 with 597 projects and 146,521 rooms, up 10 percent and 5 percent, respectively, year-over-year (YoY), US-based global hotel intelligence provider Lodging Econometrics said in a report. Projects under construction stand at 330 projects with 90,619 rooms at the close of the second quarter. Projects scheduled to start construction in the next 12 months increased 17 percent YoY to 102 projects with 23,909 rooms.”
[Zawya]
“In the beginning, people were skeptical, but I think a lot of that has kind of gone away because they see that we’re giving out the money. We want to fund this science, it’s really important for the human race.”
Stephanie Lederman, executive director, American Federation for Aging Research, or AFAR, a U.S. nonprofit that has received $7.76 million in funding from Hevolution. Saudi Arabia Is Dangling Billions for Research on Aging. Scientists Are Lining Up to Take It. [Wall Street Journal]
“Globally, Qatar and Saudi Arabia are the best performing destinations in terms of tourist arrivals in the first quarter of 2023.” Maitreyi Das, HSBC securities and capital markets economist, Middle East records strongest post-pandemic tourism rebound globally, HSBC says [The National]
“Ronaldo played a vital role in Al-Nassr’s latest Saudi Pro League win, scoring twice from the penalty spot, and after one goal, he performed a traditional Saudi dance instead of his trademark ‘Siuuu’ celebration. There were social media users from the country explaining afterwards that Ronaldo was copying a Saudi ardah: a folk dance that can be performed by men with swords.”
[Goal.com]
“It’s one element of a policy armory that Saudi Arabia is currently deploying. We are talking about a contest between nations to win the hearts and minds of people globally. Britain, the United States, France, India and so many other countries have implemented this policy. Now the Saudis are doing the same.”
Simon Chadwick, professor of Sport and Geopolitical Economy at Skema Business School in Paris. [BBC]
“This is the context surrounding Riyadh’s looming decision on the selection of a vendor — from China National Nuclear Corp., South Korea’s Korea Electric Power Co. (Kepco), Russia’s Rosatom and France’s EDF — for its first two power reactors. Sources close to the matter generally view EDF as an unlikely candidate given its own operational and financial headwinds, and Russia’s invasion of Ukraine is seen as a reason for Riyadh to distance itself from Moscow. But Beijing, with its robust domestic nuclear newbuild program, has made great strides in its diplomatic relationship with Saudi Arabia. South Korea, meanwhile, has Kepco’s nearly-complete Barakah APR1400 nuclear plant in the United Arab Emirates to showcase as a shining example of its export potential. But any export deal for APR1400 has still to contend with Westinghouse’s intellectual property (IP) dispute.”
Nuclear Key to US-Saudi Relationship Goals [Energy Intelligence]
“A 2022 French Institute of International Relations report noted that desalinated water makes up 90% of Kuwait’s water supply, 86% of Oman’s, 70% of Saudi Arabia’s, and 42% of the United Arab Emirates’. In 2022, more than 21,000 desalination plants were in operation worldwide, nearly twice as many as a decade ago. Desalination capacity in the Middle East is expected to almost double by 2030.”
Kate Dourian, Gulf Countries Explore Water Solutions to Mitigate Impacts of Climate Change [Arab Gulf States Institute in Washington]
