Latest news with #SR22
Arab News
24-04-2025
- Business
- Arab News
Saudi Arabia launches major dairy cluster in Al-Kharj
JEDDAH: Saudi Arabia has launched a major dairy industrial cluster in Al-Kharj, reinforcing its ambition to become the region's leading hub for dairy production and food manufacturing. Announced during the Saudi Dairy Forum in Al-Kharj — located approximately 90 km southeast of Riyadh — the initiative is a strategic component of the Kingdom's broader National Industrial Strategy. The cluster spans 1 million sq. m and is equipped with advanced infrastructure tailored to support dairy manufacturing and related industries. Minister of Industry and Mineral Resources Bandar Alkhorayef, speaking at the forum, underscored the project's role in attracting high-value investments and enhancing the Kingdom's food security. He revealed that the dairy sector reached a market size of SR22 billion ($5.87 billion) in 2024, with exports totaling SR4.8 billion and imports at SR8.9 billion. According to the IMARC Group, the market is projected to grow to $8.4 billion by 2033, with a compound annual growth rate of 3.8 percent from 2025 to 2033. 'This project aligns with the goals of the National Industrial Strategy to position Saudi Arabia as a regional hub for food industries,' Alkhorayef stated, as reported by the Saudi Press Agency. He said it will offer investors access to fully developed industrial land, modern facilities, storage solutions, and a comprehensive support system. In a statement on social media, Alkhorayef expressed gratitude to Riyadh Governor Prince Faisal bin Bandar for his patronage of the forum and for inaugurating the country's first dairy industrial cluster in Al-Kharj Industrial City. The minister noted that Saudi Arabia has achieved 129 percent self-sufficiency in dairy production, underscoring the sector's resilience and capacity for growth. Al-Kharj alone contributes over 70 percent of the Kingdom's total dairy output, supplying both local and regional markets. The new cluster is part of a broader initiative by the Saudi Authority for Industrial Cities and Technology Zones to establish specialized food industry hubs throughout the Kingdom. The project is expected to foster synergies across the value chain, including animal feed, food additives, packaging, and machinery manufacturing. The Saudi Dairy Forum, hosted by the Al-Kharj Chamber in cooperation with the National Industrial Development Center, brought together industry leaders, policymakers, and agricultural stakeholders. It was held under the patronage of Riyadh Gov, Prince Faisal bin Bandar and attended by Al-Kharj Gov. Prince Fahd bin Mohammed bin Saad bin Abdulaziz. As Saudi Arabia accelerates its push to diversify the economy and achieve food security, the Al-Kharj dairy cluster stands as a milestone in the Kingdom's industrial and agricultural evolution.
Arab News
08-04-2025
- Business
- Arab News
Saudi tourism license applications up 390% after World Cup announcement: vice minister
RIYADH: Tourism license applications in Saudi Arabia have surged nearly fourfold since the Kingdom secured hosting rights for the 2034 FIFA World Cup, a senior official has revealed. Speaking at a panel discussion during the Sports Investment Forum in Riyadh, taking place from April 7 to 9, the Kingdom's Vice Minister of Tourism, Princess Haifa bint Mohammed Al-Saud, said applications had surged by 390 percent — highlighting the growing interest of international tourists and boosting economic growth, according to local broadcaster Al-Ekhbariya. The increase comes as Saudi Arabia ramps up investments in sports infrastructure as part of Vision 2030, the Kingdom's strategic framework to diversify the economy and reduce dependence on oil. It also aligns with the growing recognition that sports tourism is a key driver of economic development, accounting for 10 percent of global tourism expenditure and projected to grow by 17.5 percent by the end of this decade. 'Sports tourism has no limits. The number of tourists who came solely to attend sporting events reached 14 million by last year, spending nearly SR22 billion ($5.86 billion),' Princess Haifa said, according to a post on Al-Ekhbariya's X account. 'In 2018, visitors from 70 nationalities visited the Kingdom to attend sporting events, and today the number has exceeded 160 nationalities, thanks to various facilities,' she added. During the session, the vice minister emphasized the role of the broader tourism ecosystem in supporting the Kingdom's sporting ambitions and contributing to sustainable economic development through public-private collaboration. The inaugural edition of the three-day Sports Investment Forum sees local and international leaders, officials, investors, and entrepreneurs exploring opportunities in the Kingdom's evolving sports landscape. The forum aims to expand the scope of sports investment in Saudi Arabia by fostering effective partnerships, attracting capital, and launching initiatives to drive growth across the sector.
Trade Arabia
08-04-2025
- Business
- Trade Arabia
KSA sporting events draw 14m tourists in 2024
Saudi Deputy Minister of Tourism Princess Haifa Al-Saud said that sporting events have attracted 14 million tourists with a total spending of SR22 billion ($5billion) in 2024, reported Saudi Gazette. Attending a panel discussion at the 2025 Sports Investment Forum in Riyadh, Princess Haifa emphasised the growing role of sports tourism in the Kingdom. She noted that the Kingdom has welcomed visitors from more than 160 different nationalities to attend sporting events. The opportunities that are opened up by sports tourism and sporting events are limitless, Princess Haifa said, while emphasising that there is a strong desire among people to come to Saudi Arabia and explore it. According to Princess Haifa, applications for licenses to carry out tourism activities have shot up by 390 percent since the announcement that the Kingdom would host the World Cup in 2034.
Zawya
08-04-2025
- Business
- Zawya
Sporting events draw 14mln tourists with $6bln spending in 2024: minister
RIYADH — Deputy Minister of Tourism Princess Haifa Al-Saud said that sporting events have attracted 14 million tourists with a total spending of SR22 billion in 2024. Attending a panel discussion at the 2025 Sports Investment Forum in Riyadh on Monday, Princess Haifa emphasized the growing role of sports tourism in the Kingdom. She noted that the Kingdom has welcomed visitors from more than 160 different nationalities to attend sporting events. The opportunities that are opened up by sports tourism and sporting events are limitless, Princess Haifa said, while emphasizing that there is a strong desire among people to come to Saudi Arabia and explore it. According to Princess Haifa, applications for licenses to carry out tourism activities have shot up by 390 percent since the announcement that the Kingdom would host the World Cup in 2034. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
07-04-2025
- Business
- Saudi Gazette
Princess Haifa: Sporting events draw 14 million tourists with SR22 billion spending in 2024
Saudi Gazette report RIYADH — Deputy Minister of Tourism Princess Haifa Al-Saud said that sporting events have attracted 14 million tourists with a total spending of SR22 billion in 2024. Attending a panel discussion at the 2025 Sports Investment Forum in Riyadh on Monday, Princess Haifa emphasized the growing role of sports tourism in the Kingdom. She noted that the Kingdom has welcomed visitors from more than 160 different nationalities to attend sporting events. The opportunities that are opened up by sports tourism and sporting events are limitless, Princess Haifa said, while emphasizing that there is a strong desire among people to come to Saudi Arabia and explore it. According to Princess Haifa, applications for licenses to carry out tourism activities have shot up by 390 percent since the announcement that the Kingdom would host the World Cup in 2034.
