Saudi Arabian tourism could benefit from FIFA World Cup, says deputy minister

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Updated 10 June 2022
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Saudi Arabian tourism could benefit from FIFA World Cup, says deputy minister

JEDDAH: The FIFA World Cup being held in Qatar can give a boost to Saudi tourism, according to Mahmoud Abdulhadi, the Kingdom’s deputy minister for investment attraction.

The tournament, set to kick-off on Nov. 21, is being held close to the Al-Ahsa region of Saudi Arabia, and Abdulhadi is confident this will encourage foreign travelers to explore tourist destinations in the Kingdom.

“The World Cup is coming and we plan to have some people stay in the Kingdom,”Abdulhadi told Arab News in an exclusive interview on the sidelines of the 116th Executive Council of the UNWTO.  

“If you'd like to go, see the matches and then come back…they (can) anchor their stay around key destinations within the Kingdom and one of them is Al-Ahsa, due to its proximity to Qatar.”  

The deputy minister added that significant hotel operators in the Kingdom will dramatically increase the number of room keys by 2025, as the Kingdom is steadily progressing toward achieving the goals outlined in Vision 2030.

“The major global operators will dramatically increase the number of room keys that we have in the Kingdom. We are looking at over 50,000 room keys entering the market by 2025. This is a major achievement,” he added.

He noted that the future tourism sector in Saudi Arabia will be a blend of domestic and international investments, as the country aims to be among the top five global tourism destinations by the end of this decade. 

He further made it clear that people are conservative regarding cross-border investments in the aftermath of the pandemic.

He, however, clarified that the Kingdom is emerging as a destination that attracts foreign investments.

“Post pandemic, people are a little bit more conservative internationally in terms of cross border investment. But we are proving to be a destination attracting quite a decent amount of interest. And now we’re working on converting that interest into actual investments,” Abdulhadi told Arab News.

He further noted: “Within the Kingdom, we have been very focused on making sure that we are building the right ecosystem to attract the right amount of investment and reforming it in a way that is beneficial from a visitor and investor experience perspective.”

Abdulhadi added that the private sector drives the global tourism sector. He expects a similar transformation in the Kingdom, where large private entities and small and medium-sized enterprises also get a chance to contribute their part to the tourism industry.

“We want to move from what we have today, at least within the Kingdom where the private sector runs the tourism sector, on its own two feet. So we are keen on large private sector investment to come in. But we’re also cognizant that the whole sector is built on small and medium-sized enterprises,” added Abdulhadi.

Reaffirming the goals outlined in Vision 2030, Abdulhadi added that the Kingdom aims to generate 10 percent of the gross domestic product from the tourism sector.

He also confirmed that the Kingdom wants to attract over 100 million visitors by the end of this decade and create an additional 1 million jobs in the sector.


Closing Bell: Saudi main index closes in red at 10,847

Updated 25 February 2026
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Closing Bell: Saudi main index closes in red at 10,847

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.

The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.

The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.

The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.

The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.

Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.

On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.

Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.

On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.

In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.