Jordan has seen a rapid and remarkable recovery in its tourism sector, a government minister has said.
Tourism Minister Nayef Al-Fayez described the situation as reassuring, telling the Roya news outlet on Saturday that there had been more than 1.9 million visitors to Jordan from the start of 2022 until the end of June.
He said the return of expatriates was an important component of the country’s tourism economy and that tourism revenue was calculated by the Central Bank.
Al-Fayez said that while Jordan was not directly affected by the Ukraine crisis, the tourism sectors dealing with the Russian and Ukrainian markets were clearly impacted.
He said the ministry had addressed sectoral challenges by creating a risk calculation program in response to the pandemic to sustain work and overcome current and future challenges with the participation of the private sector.
The minister said the search for new markets was ongoing and that the Asian market was important but was still suffering from the pandemic.
He highlighted the importance of the US market alongside the European one.
Al-Fayez said the “Our Jordan is a Paradise” program had met its objectives, with 109 Jordanians benefiting from it in the first six months of 2022.
The program was originally launched to promote domestic tourism in Jordan after the tourism sector was affected by the coronavirus crisis.
He said the ministry intended to launch new tourism programs focusing on the industry’s development.
Tourism in Jordan has made a ‘rapid and remarkable’ recovery, says minister
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Tourism in Jordan has made a ‘rapid and remarkable’ recovery, says minister
- Return of expats seen as important component of sector’s economy
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.
