Saudi Arabia among top five countries driving FDI growth in MEA region, says report  

The Middle East has been the fastest-growing region for FDI since 2019, surging 13.6 percent in 2022 compared to the previous year. (Shutterstock)
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Updated 10 May 2023
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Saudi Arabia among top five countries driving FDI growth in MEA region, says report  

RIYADH: Saudi Arabia, the UAE, South Africa, Egypt and Qatar were the top five countries that drove foreign direct investment in the Middle East and Africa as the region achieved the largest gain in FDI market share in 2022, a new report revealed.   

The Middle East has been the fastest-growing region for FDI since 2019, surging 13.6 percent in 2022 compared to the previous year, according to the new report released by the Investment Monitor, which provides data, insights, and analysis on FDI.  

Africa’s FDI also increased by 17.7 percent in 2022 when compared with the previous year.   

However, despite losing global market share, Europe, Asia, and North America continue to be the top three regional markets for FDI, according to the report.    

Launched on the second day of the Annual Investment Meeting in Abu Dhabi, the report further revealed that digitalization and green energy were at the top of investors’ priorities during the year.    

Major investments in the region include British firm J.O. Steel’s $865-million integrated billet manufacturing plant in Saudi Arabia, said Glenn Barklie, chief economist at Investment Monitor and head of FDI services at Global Data Media.    

He disclosed that other investments include India’s ACME Cleantech’s $13 billion investment in green hydrogen in Egypt and France’s TotalEnergies and its partner China National Offshore Oil Corp.’s $10-billion crude oil production site in Uganda.   

Released under the title “Investment Monitor’s FDI Report 2023: A Focus on the Middle East & Africa,” the report also sheds light on potential opportunities for securing an even larger share of FDI as investors seek green investment.    

“On the greenfield side of things, we did see it’s effectively a lapse in the time frame, so a lot of the growth that we have seen in 2021 and 2022 is a rebound,” Barklie said.    

“There are over 1,600 ultimate parent companies that have invested in the Middle East and Africa in 2022,” he added.    

The chief economist explained that firms tended to focus on only one market, either the Middle East or Africa.    

Each of the top five countries managed to attract FDI via several sources, stated the report. For instance, while Egypt managed to attract FDI projects through its renewable programs, Qatar attracted FDI as the FIFA World Cup put the gas-rich Gulf nation under the spotlight.    

On the other hand, Saudi Arabia attracted FDI as it benefited from opening its borders to tourism. 


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.