Saudi capital market’s value surges 476% over 5 years to $2.6tn: CMA 

Saudi financial market has witnessed growth in recent years as the number of listed companies increased from 188 firms at the end of 2017 to reach 269 towards the end of 2022. (Supplied)
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Updated 19 March 2023
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Saudi capital market’s value surges 476% over 5 years to $2.6tn: CMA 

RIYADH: The value of the Saudi financial market has surged 476 percent over the past five years as it hit SR9.9 trillion ($2.6 trillion), revealed a top official of the Capital Market Authority.   

While the Saudi financial market ranked ninth among the largest stock exchanges in the world for value by the end of 2022, it managed to secure fourth place among the G20 countries by the end of the year, according to CMA’s Strategy & International Affairs Deputy Yazid bin Saleh Al-Damiji. 

He added that the Saudi financial market has witnessed growth in recent years as the number of listed companies increased from 188 firms at the end of 2017 to reach 269 towards the end of 2022. 

The authority has sought to develop and elevate the Saudi financial market by working on mechanisms and regulations that contributed to enhancing the performance of several firms as well as sectors. 

This contributed to increasing the number of initial offerings for public subscription and direct listing in the main and parallel market during 2022, helping the total number to reach 56, compared to just 34 back in 2021. 

“The main market witnessed an increase in foreign investments, achieving historical levels of up to 388 percent, as it increased from SR71 billion in 2017 to SR 347 billion by the end of 2022, and the value of ownership of foreign investors continued to increase,” Al-Damiji explained. 

“The rise to reach 14.2 percent of the free float shares in the main market at the end of last year 2022, compared to 12.8 percent at the end of 2020,” he added. 

The focus on the financial technology sector — fintech — is among the main developments that characterized the growing level of maturity enjoyed by the Saudi financial market, according to the Strategy & International Affairs Deputy at the CMA.  

By the end of 2022, the number of fintech permits in the Kingdom jumped to 29, reflecting an increase of 262.5 percent compared to the total permitted back in 2020. 

“In Saudi Arabia, we have witnessed rapid growth in the past five years from roughly zero to 150 companies in the fintech sector with a value of SR4 billion, creating more than 2,000 jobs in the Saudi economy,” the CMA’s chairman Mohammed bin Abdullah Elkuwaiz said. 


Saudi tourism employment surpasses 1m as hospitality sector expands 

Updated 08 January 2026
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Saudi tourism employment surpasses 1m as hospitality sector expands 

RIYADH: Saudi Arabia’s tourism workforce surpassed 1 million in the third quarter of 2025, underscoring the sector’s rapid expansion as the Kingdom continues to develop its hospitality infrastructure and visitor economy. 

According to the latest Tourism Establishments Statistics report released by the General Authority for Statistics, the total number of employees in tourism activities reached approximately 1,009,691 in the third quarter of 2025, marking a 6.4 percent increase compared to the same period in 2024, when employment stood at 948,629. 

The growth in employment comes alongside a significant rise in the number of licensed tourism hospitality facilities, which increased by 40.6 percent year on year to reach 5,622 in the third quarter. Of these, serviced apartments and other hospitality facilities accounted for 52.6 percent, while hotels represented 47.4 percent. 

The robust growth reflected in the latest tourism statistics aligns directly with the goals of Vision 2030, as the Kingdom aims to double tourism’s gross domestic product contribution to 10 percent. The sector is also seeking to create 1.6 million jobs, and attract 150 million visitors annually by 2030.

The report showed that non-Saudi employees made up the majority of the tourism workforce, numbering 764,520 and accounting for 75.7 percent of the total. Saudi nationals employed in the sector reached 245,171, representing 24.3 percent of all tourism workers. 

In terms of gender distribution, male employees dominated the sector with 875,658 workers, while female employees totaled 134,033, making up just 13.3 percent of the workforce. 

Hotel performance showed positive momentum, with the average room occupancy rate rising to 49.1 percent during the quarter, an increase of 2.9 percentage points from 46.1 percent in the same period a year earlier. 

In contrast, serviced apartments and other hospitality facilities experienced a slight dip in occupancy, recording 57.4 percent compared to 58 percent in the same quarter of 2024. 

The average daily room rate in hotels decreased by 3.6 percent to SR341 ($90.9), down from SR354 in the third quarter of 2024. Meanwhile, serviced apartments and similar facilities saw their average daily rate rise by 4.1 percent to SR208, up from SR200 a year earlier. 

The average length of stay in hotels was 4.1 nights, down 1 percent from 4.2 nights in the third quarter of 2024. For serviced apartments and other hospitality facilities, the average stay was 2.1 nights, reflecting a marginal decrease of 0.2 percent year-on-year. 

The statistics draw on administrative records, surveys and secondary data to capture activity across the Kingdom’s tourism sector, GASTAT said.