Latest news with #NEOM
Arab News
10 hours ago
- Business
- Arab News
Youth-led businesses in Saudi Arabia account for over a third of all commercial registrations
RIYADH: Saudi youth-owned businesses now represent 38 percent of the Kingdom's total active commercial registrations as of the second quarter of this year, according to the Ministry of Commerce. The fastest-growing sectors among the 474,000 youth-led businesses include app development, which led the way with 28 percent annual growth resulting in 18,780 commercial permits. Artificial intelligence technologies closely followed, with a 34 percent increase, reaching 14,409 registrations. The e-gaming industry also showed remarkable progress, expanding by 32 percent to 8,260 permits, while film, video, and TV production grew by 20 percent, totaling 5,752 registrations by mid-2025. Saudi Arabia has a predominantly young population, with the latest census data indicating that individuals under the age of 30 constitute 62.8 percent of the population. Through public-private partnerships and targeted programs, the nation is equipping young Saudis with digital literacy, entrepreneurial skills, and industry-specific expertise in high-growth sectors like AI, renewable energy, and tourism. Private sector giants, including PwC, NEOM, Aramco, and Red Sea Global, are collaborating with government initiatives to equip Saudi youth with industry-relevant expertise. Programs such as PwC's Hemam training, Red Sea Global's leadership programs, and vocational training schemes ensure hands-on experience, aligning education with labor market demands. Incubators like The Garage foster startup innovation. However, challenges persist in aligning education with labor market needs, necessitating ongoing cooperation between businesses and academia to sustain this talent pipeline. PwC's Riyadh Al-Najjar emphasized in an interview with Arab News in January that an 'entrepreneurial mindset' is critical for private sector growth, while Red Sea Global's Zehar Filemban highlighted the need for adaptability in a fast-evolving job market. The government is addressing these needs through vocational training, Saudization programs, and incentives to attract and retain skilled professionals.
The Irish Sun
a day ago
- Business
- The Irish Sun
Future of $1tn megacity The Line hangs by a thread as Saudi rulers ‘check feasibility' of mad scandal-hit vanity project
THE future of the $1 trillion megacity The Line is hanging on by a thread as Saudi rulers are checking the "feasibility" of the mad scandal-hit vanity project. Advertisement 12 The design plan for the 500-metre tall parallel structures, known collectively as The Line, in the heart of the Red Sea megacity NEOM Credit: AFP 12 The mirrored city was to extend 106 miles and house 1.5 million residents Credit: NEOM 12 The city was later reduced by a laughable 99 per cent to stretch just 1.5 miles and house only 300,000 people Credit: NEOM/AFP The Within the site is to be Now, Saudi Arabia has desperately asked consulting firms The ultra-rich kingdom's public investment fund, or PIF, asked consultants to determine whether its Advertisement read more news The government could decide that no changes are necessary and the project can continue as planned, sources said. And any changes would have to be agreed by executives at the PIF followed by the government itself. "The Line remains a strategic priority and Neom is focused on maintaining operational continuity, improving efficiencies and accelerating progress to match the overall vision and objectives of the project." Advertisement Most read in The US Sun The assessment emphasises just how much the kingdom looks to revise project under its As oil prices lower and foreign investments become weaker, alongside budget shortfalls, Saudi Arabia has been forced to make tough decisions on what it wants to prioritise and at what pace is taken. And The Line isn't the only Saudi mega-project that's struggling to bear fruit. Fellow Advertisement The project was the first to open at Neom but was halted over various issues like design flaws, sources added to Bloomberg. LIFE ON 'THE LINE' The Line is to be a car-free, three-dimensional and high-density metropolis that challenges conventional urban planning, a top boss on the build said a few months ago. Neom Chief Development Officer Denis Hickey shed light on Saudi Arabia's crown jewel construction and what life would be like living inside the revolutionary urban environment. Speaking at the World Economic Forum in Davos, the boss offered an in-depth look at some of the details of the city such as its 'innovative Advertisement Hickey said: 'The Line is not just about compact urban living; it's about redefining city life to prioritise human well-being over congestion.' The boss explained that instead of sprawling neighbourhoods, the city will be a linear, vertical "landscraper" structure with modular sections stacked on top of one another to maximise space efficiency. 12 Aerial pics in December showed the incomplete Line project 12 The Line isn't the only Saudi mega-project that's struggling to bear fruit Credit: NEOM/AFP Advertisement 12 Graphic renders of the metropolis show that it will be encased in two long mirrored skyscrapers lying sideways He continued: 'Everything you need will be within a five-minute walk… The megaproject will be 500 metres tall, and create a canyon-like structure allowing residents to move upwards, downwards and sideways easily. In a blow to motorheads, Advertisement Hickey added: 'Urban sprawl is outdated - we are moving beyond the old way of expanding cities by simply adding more roads. 'The Line will be the world's first major city built without cars. Residents will travel via a high-speed underground rail network, general mass transit, and rapid vertical transportation.' But the boss assured potential residents that the average commute within the whole city would be under 20 minutes from 'anywhere inside The Line'. One huge part of the project, which could attract Brits, is an ambitious futuristic Advertisement 'This will be a stadium like nothing seen before,' Hickey said. 'The playing field will sit at the height of the Empire State Building, giving fans a completely new way to experience games—suspended in the The stadium aims to broaden the The Line will also not be exclusive based on wealth, and targets a broad range of income levels, according to Hickey.. He said: 'This is not Billionaires' Row. Advertisement 'We are designing a city where everyone, regardless of income level, has equal access to world-class urban living. Saudi's plan for $5b world's tallest skyscraper twice the height of Burj Khalifa 'In most cities, if you don't live near the park or downtown, you miss out on the best amenities. 'In The LINE, every resident will have immediate access to green spaces, infrastructure, and cultural landmarks.' The first part of the project, Hidden Marina, is set to house over 200,000 people, with essential infrastructure such as schools, places of worship, Advertisement The revelations come as The £1trillion project was originally supposed to be part of the country's Vision 2030 plan, but it has been majorly pushed back, and only 1% of it will be completed by the end of this decade. Saudi Arabia's project has also been criticised for several major blunders that have raised concerns about its feasibility, ethics, and overall execution. In 2024, an ITV documentary revealed that 21,000 workers had died working in the country since Vision 2030 was announced in 2016. Advertisement Neom, which includes The Line, is the project's flagship build. 12 Pictures show the confusing metropolis floating over a marina 12 The mirrored structure looks like something out of a sci-fi film Credit: YouTube/NEOM 12 An artist's impression of the tall parallel structures that would make up The Line Advertisement Hickey ended 'The Line is becoming a reality,' he said. 'BUILT ON BLOOD' Beneath NEOM's glitzy facade lies a story of threats, forced evictions and bloodshed that cast a dark shadow over Saudi's vanity project. Many developments have faced fierce criticism over human rights abuses, where tribes were shoved out of their homeland, imprisoned or executed. Advertisement At least 20,000 members of the Huwaitat tribe face eviction, with no information about where they will live in the future . For centuries, this indigenous community lived in the area designated for NEOM's construction. But what followed was a harsh crackdown on those who resisted leaving their homes . The most tragic incident involved the killing of Abdul Rahim al-Howeiti, a prominent tribal leader who opposed the forced removals. Advertisement His death at the hands of Saudi security forces in 2020 became a stark symbol of the lengths to which the kingdom was willing to go to push the project forward. One campaigner claimed "Neom is built on Saudi blood". Authorities in the port city of Jeddah also demolished many houses to implement Saudi's development plans - with thousands of locals evicted illegally. Nader Hijazi - who decided to remain anonymous - grew up in Aziziyah, one of around 63 communities devastated by the demolitions. Advertisement His father's house was demolished in 2021, and he received less than a month's notice. Hijazi said the photographs he saw of his previous neighbourhood were terrible, resembling a warzone. 12 The proposed Line was shrunk by 99 per cent 12 Handout photo provided by Saudi Arabia's NEOM shows the design plan for Line Credit: AFP Advertisement 12 Saudi Arabia's Crown Prince, Mohammed bin Salman hoped construction would be completed by 2030 He Jeed Basyouni, Middle East director of the human rights organisation Reprieve, told the crown prince , or gets in his way, risks being sentenced to jail or to death." In May, an ex-intelligence officer revealed how Saudi authorities allowed the use of lethal force to clear land for The Line. Advertisement Col Rabih Alenezi After that, one of them was shot and murdered for protesting against eviction. He said the April 2020 order stated the Huwaitat was made up of "many rebels" and "whoever continues to resist [eviction] should be killed, so it licensed the use of lethal force against whoever stayed in their home". Top 5 blunders plaguing NEOM project By Juliana Cruz Lima, Foreign News Reporter Saudi Arabia's NEOM project, despite its ambitious vision, has been criticized for several major blunders that have raised concerns about its feasibility, ethics, and overall execution. Here are the top five major blunders associated with the project: Forced Displacement of Indigenous Communities : One of the most significant controversies surrounding NEOM is the forced displacement of the Huwaitat tribe. This indigenous community, which has lived in the area for centuries, was forcibly removed from their ancestral lands to make way for the development of the mega-city. The Saudi government's crackdown on those who resisted, including the killing of a tribal leader, Abdul Rahim al-Howeiti, has drawn widespread condemnation from human rights organisations. This blunder not only sparked international outrage but also tainted NEOM's image as a forward-thinking, humane project. Environmental Impact and Sustainability Concerns : NEOM has been marketed as an environmentally sustainable city, but the environmental impact of such a massive development is a major concern. The project's scale—covering over 26,500 square kilometers—poses significant risks to local ecosystems, particularly in the Red Sea, which is home to rich marine biodiversity. Critics argue that the construction of artificial islands and extensive urbanisation could lead to irreversible ecological damage. The enormous water and energy demands required to maintain a green city in the desert also raise questions about the project's sustainability. Economic Viability and Cost Overruns : NEOM is one of the most expensive development projects in history. But there are serious doubts about its economic viability. Critics question whether the project can attract the necessary foreign investment and whether it will generate sufficient returns to justify the enormous expenditure. The economic risks are further compounded by potential cost overruns and delays, which are common in megaprojects of this scale. This financial gamble has led some to worry that NEOM could become a costly white elephant if it fails to meet its ambitious goals. Technological Overreach and Ethical Concerns : NEOM is envisioned as a high-tech city, heavily reliant on artificial intelligence, robotics, and extensive surveillance systems. While this technological ambition is central to NEOM's identity, it also raises significant ethical concerns. The level of surveillance planned for the city could lead to unprecedented control over residents' lives, sparking fears about privacy and civil liberties. The lack of transparency about how AI will be used, coupled with concerns about job displacement, has also led to criticism that NEOM's technological vision may be more dystopian than utopian. Cultural and Social Disconnect : NEOM's vision of a futuristic, liberalized society clashes sharply with Saudi Arabia's deeply conservative cultural norms. The project plans to introduce mixed-gender sports, entertainment events, and other liberal lifestyle elements that are rare in the kingdom. This cultural shift has raised concerns about a potential clash between NEOM's globalised vision and the traditional values of Saudi society. The disconnect between the project's ambitions and the broader cultural context has led to skepticism about whether NEOM can truly integrate into Saudi Arabia's social fabric without causing significant friction.
Zawya
a day ago
- Automotive
- Zawya
Western Auto deliver 1000th bus to NEOM, marking key contribution to Vision 2030
Dammam, KSA – Western Auto, a pioneer in automotive solutions in Saudi Arabia under the Al Ghurair Mobility sector, has officially delivered the 1000th Ashok Leyland bus to operators in NEOM. This milestone contributes to Saudi Arabia's ambitious Vision 2030 objectives. The recent ceremony in Dammam brought together senior representatives from Western Auto and operators in NEOM to celebrate the achievement, highlighting a longstanding partnership built on performance, scale, and service excellence. This significant achievement in delivery is part of a larger commitment by Western Auto to power large-scale infrastructure developments across the country, with NEOM at the forefront. Ashok Leyland buses have been widely adopted and proven across NEOM projects, reinforcing Western Auto's position as a trusted logistics partner for manpower transportation in the region. 'We are proud to have delivered 1,000 Ashok Leyland buses for various projects in NEOM,' said Khalid Yousef, Executive Vice President of Western Auto. 'We're confident in growing our market share and meeting operators' needs, with a strong focus on delivering exceptional sales and after-sales service.' Western Auto remains committed to supporting NEOM and other giga-projects across Saudi Arabia by delivering efficient, scalable, and reliable mobility solutions, backed by strong service and regional expertise. With a strong B2B focus, Western Auto plays a pivotal role in distributing and servicing commercial vehicles across Saudi Arabia. Its portfolio includes leading brands such as Ashok Leyland, CMC, FAW Trucks, and YouCan Trailers. Complemented by a robust after-sales service, the company ensures optimal uptime and operational reliability for its fleet customers across the country. About Western Auto KSA Western Auto was established in 2000 in Saudi Arabia, delivering products and services to a diverse range of industries and commercial businesses across different sectors. Western Auto operates five Service Centres & Showrooms and is renowned for its exceptional after-sales services for all the reputed brands it represents in Saudi Arabia. Western Auto has expert technicians and a team of associates with one ultimate goal of giving satisfaction to all its customers. For more information, please visit: About Al Ghurair Al Ghurair is one of the largest diversified family business groups in the Middle East, with operations in five distinct strategic sectors: Foods, Mobility, Development, Infrastructure and Property Management. Established in 1960 as a trading business, Al Ghurair was one of the first pillars of industry and commerce in the United Arab Emirates. From modest beginnings, and with a proud history of innovation and entrepreneurship, the Al Ghurair family name is synonymous with the heritage, evolution, and vision of the UAE. Headquartered in Dubai, the business' diversified operations span more than 20 countries across the globe, employing approximately 28,000 people. Today, Al Ghurair continues to build on its enduring 60+ year legacy, guided by its purpose: 'In pursuit of better', as it strives to facilitate meaningful and sustainable change across the communities within which it operates. For more information, please visit: Media enquiries Indira Kasaeva | TishTash Communications indira@
Gulf Business
2 days ago
- Business
- Gulf Business
Saudi Arabia tops global tourism revenue growth in Q1 2025, shows report
Image: Getty Images Saudi Arabia ranked first globally in the growth of international tourism receipts in Q1 2025 compared to the same period in 2019, according to the latest The kingdom also placed third worldwide and second in the Middle East in growth of international tourist arrivals, highlighting its expanding role on the global tourism map. During Q1 2025, Saudi Arabia recorded a 102 per cent surge in international arrivals compared with Q1 2019, far exceeding the global average of 3 per cent and the Middle East's 44 per cent, the UN report showed. 'This outstanding growth underscores Saudi Arabia's position as a key player in both regional and global tourism and underlines its unwavering commitment to advancing the sector,' the report noted. Growth aligned with Saudi' Vision 2030 goals The gains reflect Vision 2030 strategy to diversify the economy and attract 100 million annual visitors by the end of the decade. The kingdom has significantly ramped up investment in tourism infrastructure, from mega projects like NEOM and the Red Sea to hosting major sporting and cultural events. A recent report by the World Economic Forum (WEF), produced in collaboration with Kearney and Saudi Arabia's Ministry of Tourism, said tourism is set to outpace global economic growth. The sector is forecast to contribute $16tn to global GDP by 2034 — more than 11 per cent of the world economy, according to WTTC estimates. Saudi Arabia is positioned at the forefront of this shift. 'With its bold Vision 2030, strategic leadership, and record-breaking visitor numbers, Saudi Arabia is redefining how countries can leverage tourism for inclusive prosperity, cultural diplomacy, and long-term resilience,' the Read:
Al Arabiya
2 days ago
- Business
- Al Arabiya
Saudi Arabia tops global tourism spending growth in Q1 2025: UN report
Saudi Arabia led the world in international tourism spending growth during the first quarter of 2025 and ranked third globally in tourist arrival gains, according to the latest UN World Tourism Organization (UNWTO) data. The Kingdom recorded a 102 percent surge in international visitor numbers and spending compared to the same period in 2019, significantly outpacing the global average of 3 percent and the Middle East's 44 percent. For more news on Saudi Arabia, visit our dedicated page. In its latest World Tourism Barometer, the UNWTO confirmed that Saudi Arabia placed first worldwide in tourism receipts growth and third globally in international arrivals. Regionally, the Kingdom ranked second in the Middle East for visitor growth. According to the Ministry of Tourism, foreign visitor spending in Q1 2025 reached $13.2 billion (SAR 49.4 billion) – an increase of nearly 10 percent over Q1 2024. The Kingdom's travel account surplus also rose 11.7 percent year-on-year. Saudi Minister of Tourism Ahmed al-Khateeb welcomed the results, saying they 'support the Kingdom's efforts to boost tourism as part of its Saudi Vision 2030.' The strong performance reflects the impact of Vision 2030 and the Kingdom's ambitious giga-projects – including NEOM, AlUla, the Red Sea Project, Amaala, and Sindalah – as well as streamlined visa policies and expanded tourism infrastructure, according to the Saudi Press Agency (SPA). Religious tourism continues to play a central role, with Mecca and Madinah drawing millions of pilgrims annually. Mecca alone attracted 9.4 million visitors in 2022. Meanwhile, heritage destinations like Hegra in AlUla – known for its ancient Nabatean tombs – are expanding Saudi Arabia's appeal to leisure and cultural tourists. The 'Quality of Life' Program has also contributed to this momentum, with $9.2 billion (SAR 34.6 billion) invested since 2018 in entertainment, festivals, and infrastructure improvements aimed at enhancing the visitor experience. With this upward trajectory in both receipts and arrivals, Saudi Arabia appears well on track to reach its Vision 2030 goal of 150 million annual visits and establish itself as a leading global tourism destination.
