RIYADH: A Saudi energy think tank has devised an analytical model which examines how oil price shocks affect individual countries.
The King Abdullah Petroleum Studies and Research Center (KAPSARC) developed the tool which covers 36 countries and incorporates oil industry data going all the way back to 1979.
It comes amid fierce volatility across energy markets this year as oil demand is buffeted by the impact of the coronavirus pandemic.
Among the countries studied were 12 major oil producers that collectively account for two-thirds of global crude oil output, and hold approximately 65 percent of proven oil reserves. The list includes five of the world’s top six producers: Saudi Arabia, the US, Russia, Canada and China.
It stressed the importance of establishing sovereign wealth funds in oil exporting countries that can absorb economic shocks, thereby dampening the impact on the wider economy and reducing the potential for system-wide disruption.
Saudi energy think tank develops oil shock analysis model
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Saudi energy think tank develops oil shock analysis model
Riyadh region welcomes 15m tourists by end of Q3
RIYADH: The Riyadh region welcomed 15.1 million tourists from within and outside Saudi Arabia by the end of the third quarter, underscoring the Kingdom’s growing presence on the global tourism map.
In an X post, Saudi Arabia’s Ministry of Tourism said total tourist spending in the region reached approximately SR33 billion ($8.8 billion) during the period, marking an 18 percent year-on-year increase.
Strengthening the tourism sector is a key pillar of Saudi Arabia’s Vision 2030 agenda, as the Kingdom seeks to diversify its economy and reduce reliance on crude revenues. Under the National Tourism Strategy, Saudi Arabia aims to attract 150 million visitors by the end of the decade.
“The Riyadh region recorded growth in its tourism indicators; the capital witnessed a significant increase in the number of visitors and a rise in the volume of tourism spending during the third quarter of 2025,” the Ministry of Tourism said in the post.
The ministry added that the number of tourist rooms in the Riyadh region rose by 34 percent year on year in the third quarter of 2025 to reach 50,000.
According to the ministry, the number of registered tour guides in the Riyadh region climbed to 673 during the third quarter, up 44 percent compared with the same period last year.
Earlier this month, Saudi Arabia’s Deputy Minister of Tourism, Princess Haifa bint Mohammed, said domestic tourism spending in the Kingdom reached SR105 billion by the end of the third quarter of 2025, representing an 18 percent year-on-year increase.
Speaking at the Budget Forum 2026, Princess Haifa said the tourism sector remains one of the most promising drivers of national economic diversification.
In April, data from the Saudi Central Bank, also known as SAMA, showed that inbound tourism spending in the Kingdom surged to a record SR153.61 billion in 2024, marking a 13.82 percent annual increase.
Earlier this month, the Tourism Development Fund announced six agreements and a memorandum of understanding with public and private sector entities during the Development Finance Conference Momentum 2025, strengthening partnerships with a total impact exceeding SR4 billion.
The fund plays a central role in advancing development finance and sector growth as a national enabler, supporting business expansion and broadening the tourism investment base.
