Oil Updates — crude extends losses on lower Middle East supply risk
Oil Updates — crude extends losses on lower Middle East supply risk/node/2605609/business-economy
Oil Updates — crude extends losses on lower Middle East supply risk
Update
Concerns were growing that any disruption to maritime activity through the Strait of Hormuz would catapult oil prices. Getty
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Updated 24 June 2025
Reuters
Arab News
Oil Updates — crude extends losses on lower Middle East supply risk
Brent and WTI benchmarks down more than 3%
Analysts see less risk to Middle East oil supplies
Updated 24 June 2025
Reuters Arab News
LONDON: Oil prices extended losses on Tuesday to hit a two-week low on what the market viewed as lower risk of supply disruptions in the Middle East, though US President Donald Trump accused both Israel and Iran of violating a ceasefire he helped to broker.
Brent crude futures were down $3.52, or 4.92 percent, at $67.96 a barrel by 4:22 p.m. Saudi time. US West Texas Intermediate crude fell $3.42, also 4.99 percent, to $65.09.
Both contracts lost as much as 5 percent in early trade after Trump announced a ceasefire agreement between Israel and Iran.
Trump accused both countries of violating the ceasefire hours after he announced it, expressing particular frustration with Israel.
“I didn’t like the fact that Israel unloaded right after we made the deal. They didn’t have to unload and I didn’t like the fact that the retaliation was very strong,” Trump told reporters on Tuesday.
Prices also fell as Trump posted on social media platform Truth Social that China can now continue to purchase oil from Iran.
Israeli Defense Minister Israel Katz had said that he had ordered its military to mount new strikes on targets in Tehran in response to what he said were Iranian missiles fired in a “blatant violation” of the ceasefire. Iran denied launching any missiles.
The 12-day war has triggered high volatility in oil prices, with Brent crude trading in an $11.86 range on Monday, its widest since July 2022.
Both oil contracts settled more than 7 percent down in the previous session, having rallied to five-month highs after the US attacked Iran’s nuclear facilities over the weekend.
“Oil prices fell sharply, as US strikes on Iranian nuclear facilities failed to trigger a wider conflict that could pose a threat to regional supplies,” Barclays said in a note on Tuesday.
The direct US involvement in the war also focused investors on the Strait of Hormuz, a narrow waterway between Iran and Oman, through which between 18 million and 19 million barrels per day of crude oil and fuels flow, accounting for nearly a fifth of global consumption.
“The geopolitical premium has deflated, but tensions between Israel and Iran remain unresolved – and the risk of missteps and renewed escalation still lingers,” said SEB analyst Ole Hvalbye.
MENA sovereigns stable as reforms, fiscal strength cushion risks: Fitch
Updated 43 min 10 sec ago
Nirmal Narayanan
RIYADH: Sovereign ratings in the Middle East and North Africa remain resilient despite regional conflicts and softer oil prices, supported by ongoing reforms and strong fiscal buffers, Fitch Ratings said.
In its latest regional peer review, the credit rating agency said there are currently no sovereigns rated below CCC+ for the first time since July 2019, with only Israel and Bahrain carrying a negative outlook.
The report also noted that the average rating for the region has slightly improved over the past year, with no downgrades recorded since early 2023.
Ƶ is among the countries successfully advancing diversification efforts under Vision 2030 to reduce reliance on oil. Fitch rates the Kingdom A+ with a stable outlook, reflecting strong fiscal and external balance sheets.
“Deep and broad social and economic reforms implemented under Vision 2030 are diversifying economic activity, albeit at a meaningful cost to the balance sheets,” Fitch said.
The agency noted that oil prices have remained surprisingly stable amid geopolitical tensions, as OPEC+ spare production capacity continues to support the market despite higher output levels.
Fitch expects oil to average $70 per barrel in 2025 and projects almost all Gulf Cooperation Council sovereigns to post fiscal surpluses next year.
Egypt has also shown solid growth, driven by recovering domestic demand. Fitch affirmed the country’s B rating with a stable outlook.
Israel and Bahrain are the only sovereigns in the region with a negative outlook. Fitch maintained Israel’s A rating but cited rising public debt, political and governance challenges, and uncertainty over the Gaza conflict as key risks.
For Bahrain, the negative outlook reflects persistent large deficits, high and rising interest costs, elevated debt-to-gross domestic product levels, and a difficult environment for fiscal consolidation.
Oman remains the only sovereign with a positive outlook in the region, underpinned by continued deleveraging by the government and state-owned entities, improved fiscal resilience to lower oil prices, and a stronger external balance sheet.
Kuwait holds an AA- rating with a stable outlook, supported by exceptionally strong fiscal and external positions, though constrained by weaker governance, heavy oil dependence, and an expansive welfare system.
Qatar is rated AA with a stable outlook, reflecting expectations that additional gas production will strengthen its public finances.
Fitch cautioned that regional growth prospects could come under pressure if conflicts escalate, particularly in the event of renewed hostilities between Iran and Israel.
Ƶ hits 79% digital transactions in its cash to code journey
SAMA has leveraged its core mandate to position Ƶ as a global fintech hub
Updated 19 October 2025
MOHAMMED AL-KINANI
JEDDAH: Ƶ has achieved a major milestone in its financial transformation, reaching a 79 percent cashless transaction rate in 2024 — surpassing its 2025 target ahead of schedule, according to an official.
In an exclusive interview with Arab News, Khaled Al-Dhaher, vice governor for supervision and technology at the Saudi Central Bank, also known as SAMA, said: “By the end of the second quarter of 2025, the number of fintech companies operating in the Kingdom reached more than 280.”
Explaining the sector’s progress, the senior official said the country has seen a remarkable transformation, evolving from a traditional, bank-centric model to one of the most dynamic financial ecosystems in the region.
Ƶ’s fintech sector is growing rapidly, driven by regulatory reforms, digital innovation, and investment in financial infrastructure. Through initiatives supporting startups, digital payments, and open banking, the Kingdom is building a future-ready ecosystem that advances inclusion, efficiency, and Vision 2030 goals.
Strategic leadership
Al-Dhaher highlighted how SAMA has leveraged its core mandate of monetary and financial stability to position Ƶ as a global fintech hub, building its strategy on four pillars: resilience, excellence, influence, and development.
“This means enhancing structured and adaptive regulations through controlled sandboxes, clear licensing pathways, and supervisory expectations that foster responsible innovation,” he said.
He added that with top-class infrastructure, Ƶ is well positioned to roll out fintech solutions to its digitally enabled population while deepening international engagement with regulators, financial institutions, and global platforms.
SAMA has implemented several measures to foster fintech growth, starting with the establishment of Fintech Saudi in 2018 by SAMA and the Capital Market Authority, acting as a springboard to support common infrastructure for the sector.
“As a continuation of these efforts, SAMA and the CMA announced the Fintech Enablement Program, ‘Makken’ in 2023 to empower entrepreneurs and startups in the fintech industry by providing support with advanced technology, cloud, and cybersecurity capabilities,” he added.
SAMA’s priority is to ensure fintech innovation is purposeful and well-regulated. (AFP)
He emphasized that SAMA’s strategy aligns closely with the Fintech Strategy, part of the Financial Sector Development Programs under Vision 2030. The strategy, approved by the Council of Ministers in 2022, sets ambitions to transform the Kingdom into a leading global fintech hub by enhancing innovation, deepening financial inclusion, and ensuring financial services are accessible, efficient, and competitive.
“Through this approach, and in alignment with the Fintech Strategy, SAMA ensures that fintech growth is both well-regulated and impactful, positioning Ƶ as a credible and resilient hub within the global fintech landscape,” he said.
Financial Inclusion
Al-Dhaher noted that national payment systems and regulatory frameworks have facilitated mobile wallets, real-time payments, and streamlined digital onboarding.
“On the financing side, SAMA has established frameworks for microfinancing and debt crowdfunding, ensuring that innovative solutions are deployed safely while extending services to individuals and SMEs that were previously underserved,” he said.
He added that for consumers, innovations such as open banking and micro-savings tools are making financial services more accessible, personalized, and inclusive.
Global integration
Al-Dhaher also highlighted the role of international fintech entrants, emphasizing that their participation enhances the competitiveness of the domestic market and aligns Ƶ’s payment infrastructure with the highest international standards.
He pointed to recent developments as evidence, including the launch of Google Pay at Money20/20 Middle East, enabled through the national payment system, MADA, and the agreement with Ant International to enable Alipay+ payments by 2026.
He said these initiatives reflect how global platforms are partnering with national infrastructure to better serve both residents and international visitors, contributing to a robust, future-ready financial ecosystem.
“SAMA continues to encourage global participation with clear rules and regulations, ensuring technical interoperability with national systems, and implementing strong consumer-protection frameworks,” he said.
Innovation frameworks
Al-Dhaher explained that SAMA’s approach is rooted in structured adaptiveness noting that a core example is their Regulatory Sandbox, which allows fintechs to test new business models in a safe and controlled environment, while providing SAMA with real-time insights.
To date, he added, over 70 fintechs have been admitted, with more than 25 successfully graduating into fully licensed providers.
HIGHLIGHT
To date, over 70 fintechs have been admitted, with more than 25 successfully graduating into fully licensed providers.
“Several key regulations, including EMIs, crowdfunding, and digital payments, have been shaped directly through sandbox engagements,” he said.
Beyond the sandbox, the official said, SAMA has developed frameworks like the Open Banking initiative, balancing innovation with strict governance, privacy, and security standards. “This combination of phased approvals, outcome-based supervision, and strong safeguards allows us to foster innovation while ensuring stability and consumer trust.”
Operational resilience
The SAMA official emphasized that maintaining resilience and competitiveness amid global technological disruption is a key priority.
He stressed that financial institutions and third-party providers are required to comply with regulations on operational resilience, cyber-risk management, and business continuity, ensuring consistent governance, security, and accountability.
“By enforcing these requirements and maintaining close supervisory oversight, SAMA ensures that the domestic fintech ecosystem is well-prepared to manage technological disruption and global market volatility, while remaining competitive and positioned for regional and international growth,” he said.
With the rise of AI, big data, and digital finance, SAMA is leveraging emerging technologies to drive innovation while protecting privacy, security, and consumer trust.
Responsible fintech innovation
Al-Dhaher explained that the central bank follows national best-practice guidelines for AI adoption, placing reliability, security, and privacy at the core of its initiatives.
He added that SAMA also maintains “close dialogue with industry stakeholders, using surveys, on-site interviews, and partnerships to gather timely insights. This collaboration helps to foster a culture of prudent innovation.”
Discussing fintech’s broader impact, Al-Dhaher said solutions can broaden financial access, support underserved segments such as SMEs, and boost efficiency and competitiveness across the economy.
“These outcomes are directly aligned with Vision 2030, where sustainable growth, diversification, and financial inclusion are central objectives,” he said.
He emphasized that SAMA’s priority moving forward is to ensure fintech innovation is purposeful and well-regulated, advancing technology while meeting genuine market needs, protecting consumers, and reinforcing financial stability.
“We are focused on enabling an environment where fintech can thrive, talent and investment are nurtured, and innovation addresses real market needs while ensuring financial stability and consumer protection,” he said.
Riyadh leads Kingdom’s industrial rental growth in first quarter
Warehouse demand in Riyadh is increasingly shifting toward specialized facilities: Knight Frank
Updated 19 October 2025
Nirmal Narayanan
RIYADH: Strong demand for warehouse space saw occupancy levels reach 98 percent in Riyadh in the first half of 2025 as industrial rents increased 16 percent, according to Knight Frank.
Average industrial rents in the capital rose to SR208 ($55) per sq. meter, the consultancy’s Ƶ Industrial and Logistics Market Review – Autumn 2025 showed.
The surge underscores Riyadh’s growing dominance in Ƶ’s logistics market, as the Kingdom strengthens its industrial sector — a key pillar of Vision 2030’s aim at reducing the economy’s reliance on oil revenues.
The Kingdom added 1.3 million sq. meters of new warehouse space in the first half of 2025, as the industrial and logistics sector recorded double-digit rental growth and near-full occupancy across major cities, Knight Frank noted.
Faisal Durrani, partner – head of research, MENA at the company, said: “Despite this influx of new supply, average rental rates across Riyadh, Jeddah and the DMA (Dammam Metropolitan Area) have risen significantly, underscoring persistent growth in demand, especially for high-quality, modern facilities.”
He added: “In addition to the existing supply, a substantial pipeline of serviced industrial land within logistics masterplans signals continued expansion ahead.”
Collectively, these initiatives are strengthening industrial capacity, stimulating export growth, and creating a more resilient and competitive economic base.
Amar Hussain, associate partner, research at Knight Frank for MENA
Knight Frank said warehouse demand in Riyadh is increasingly shifting toward specialized facilities, including cold storage for pharmaceuticals and food supply chains, as well as large-scale data centers supported by the expansion of global tech giants such as Google, Oracle, and Huawei.
Affirming Riyadh’s status as a regional industrial hub, the report added that key strategic zones — including the 3 million sq. meters Special Integrated Logistics Zone at King Salman International Airport — have attracted major international tenants such as Apple and Shein.
Significant expansion is also anticipated in districts like Taibah, where warehouse capacity is forecast to grow by 50 percent over the next three years.
In Jeddah, occupancy rates reached 97 percent in the first half of 2025, while average warehouse rents increased 8 percent year on year.
Growth in the port city was led by the submarkets of Al Kawthar and Al Nakheel, which saw rental gains of 18 percent and 16 percent respectively, signalling strong demand for well-connected, high-quality warehousing.
The report also cited DP World’s SR3 billion investment in Jeddah Islamic Port, which doubled capacity at the South Container Terminal, streamlining freight flows and reinforcing the city’s role as a key regional trade link.
The Dammam Metropolitan Area remains a strategic hub on the Arabian Gulf coast but continues to face supply shortages. Average lease rates in DMA rose 9 percent year on year to SR231 per sq. meter, while occupancy remained tight at 96 percent.
HIGHLIGHT
Affirming Riyadh’s status as a regional industrial hub, the report added that key strategic zones — including the 3 million sq. meters Special Integrated Logistics Zone at King Salman International Airport — have attracted major international tenants such as Apple and Shein.
Pipeline developments in the region include an 850,000 sq. meter logistics zone in Dammam’s Second Industrial City, expected to deliver 900 light industrial units by the end of 2025.
“Dammam’s position on the Gulf continues to underline its importance within regional supply chains. Improved connectivity through the rail link and ongoing port expansion are expected to unlock significant potential, drawing in a new generation of better-quality industrial and logistics assets to cater to demand,” said Adam Wynne, partner, Occupier/Landlord Strategy and Solutions for the Middle East at Knight Frank.
He added: “The market is steadily shifting toward modern, purpose-built facilities that meet the evolving requirements of occupiers.”
Riyadh reinforced its position as the Kingdom’s main logistics hub, with warehouse stock rising 3.5 percent to 28.9 million sq. meters. Industrial and manufacturing facilities in the capital also expanded 1.4 percent to 16.2 million sq. meters.
In Jeddah, total warehouse supply increased 1.4 percent to 20.1 million sq. meters, while DMA saw a 0.7 percent rise to 8 million sq. meters.
In addition to the existing supply, a substantial pipeline of serviced industrial land within logistics masterplans signals continued expansion ahead.
Faisal Durrani, Partner – head of research, MENA at Knight Frank
Knight Frank said Ƶ’s expanding industrial market is being propelled by Vision 2030 initiatives aimed at diversifying the economy.
The National Industrial Development and Logistics Program and the National Strategy for Industry target tripling industrial GDP and doubling industrial exports to SR557 billion by 2030. The goal is also to increase the logistics sector’s contribution to GDP to 10 percent by the end of the decade, up from 6 percent now.
Government initiatives are reshaping the industrial landscape, including the expansion of the White Land Tax to undeveloped industrial and commercial plots, with a 10 percent annual levy designed to accelerate development and curb land banking.
“Collectively, these initiatives are strengthening industrial capacity, stimulating export growth, and creating a more resilient and competitive economic base,” said Amar Hussain, associate partner, research at Knight Frank for MENA.
He added: “Ƶ’s aggressive expansion of its manufacturing sector saw the Kingdom issue 585 new industrial licenses in the first half of 2025 alone, representing SR13.5 billion in new capital investment.”
Hussain added that the total number of licensed factories stands at 12,840 and is expected to reach 36,000 by 2035.
SMEs secure fresh capital and strategic partnerships
Startups across MENA are accelerating growth through new funding rounds
Updated 18 October 2025
Nour El-Shaeri
RIYADH: Startups across the Middle East and North Africa are accelerating growth through new funding rounds, regulatory milestones, and technology deployments, with companies in fintech, legal tech, and health tech attracting strong investor interest.
From Morocco to the UAE, founders are scaling operations, expanding regionally, and enhancing product capabilities as demand for digital and artificial intelligence-driven services continues to rise across key sectors.
UAE-based legal tech startup Oqood has secured $1 million in seed funding from a group of angel investors, a significant step in its drive to modernize legal services through AI.
The startup, founded by Khaled Al-Rasheed, develops AI-powered tools designed to automate repetitive legal tasks, streamline documentation, and improve communication between clients and legal professionals.
“This round reflects the growing investor interest in legal technology, a sector valued at more than $31 billion in 2024 and projected to grow at an annual rate of 9.4 percent,” said Al-Rasheed, founder and CEO of Oqood.
With the new capital, the company plans to expand across the Gulf Cooperation Council and further develop its AI legal solutions, aiming to support firms in their transition toward more efficient and digital-first operations.
Chari closes $12m series A
Moroccan e-commerce and fintech startup Chari has raised $12 million in a series A round led by SPE Capital and Orange Ventures.
The round, which is the largest series A raised by a Moroccan startup, also drew support from Verod-Kepple, Global Founders Capital, Plug and Play, and other prominent investors, including angels such as Property Finder’s Michael Lahyani and InstaDeep’s Karim Beguir. Chari’s total funding now stands at $17 million.
The startup has also received a payment institution license from Bank Al-Maghrib, Morocco’s central bank, making it the first VC-backed startup in the country to achieve this regulatory milestone.
“This is a unique opportunity to turn traditional grocery stores into local points of sale for financial services,” said Sophia Alj, co-founder of Chari.
Co-founder and CEO Ismael Belkhayat added: “Now that our rails are fully operational and supporting Chari’s needs, we are opening them to third parties. This marks the beginning of Chari’s Banking-as-a-Service offering.”
Tabby deploys NVIDIA HGX systems to build local AI infrastructure
Riyadh-based fintech Tabby has announced its investment in NVIDIA HGX systems to accelerate the development of AI applications across customer service, fraud detection, and personalized shopping experiences.
The deployment will support Tabby’s efforts to host and train its AI models locally, ensuring data is managed in compliance with regional regulations.
“AI is now central to how we create exceptional experiences for our customers and a safer payment ecosystem,” said Daniil Barkalov, chief operations officer and co-founder of Tabby.
The company, which serves over 20 million users and 40,000 retail partners across the GCC, is strengthening its AI capabilities to provide more secure, faster, and personalized financial services.
Marc Domenech of NVIDIA added: “NVIDIA HGX systems and NVIDIA software provide Tabby with the secure, high-performance infrastructure needed to advance AI capabilities in financial services while ensuring data is processed locally.”
Kuunda raises $7.5m to expand fintech footprint
UK-headquartered fintech Kuunda has raised $7.5 million in a pre-series A funding round led by Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, and others.
The company provides embedded credit solutions for mobile money platforms and aims to unlock short-term liquidity for agents, merchants, and small businesses across emerging markets.
“We are unlocking access to finance for Africa’s productive class — the agents, merchants, and small businesses that are the backbone of these economies,” said Andy Milne, co-founder and co-CEO of Kuunda.
PAYDAY secures funding to scale in Tunisia
Tunisian fintech and insurance tech startup PAYDAY has closed its pre-seed funding round at a $3 million valuation.
The round was led by UGFS North Africa with participation from TALYS Group and BioProtection SA.
Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari enables small retailers to access embedded financial services. (Supplied)
PAYDAY offers salary-backed financing combined with micro-Takaful products to promote financial inclusion.
“This alliance strengthens PAYDAY’s ability to develop its services and ensure the scalability of this innovative solution, serving businesses and their employees,” said Mohamed Gadhoum, co-founder and CEO of PAYDAY.
With more than 10,000 transactions recorded since its 2024 launch, the startup is now expanding into a financial aggregator model, integrating banks, insurers, and microfinance providers to offer inclusive financial services.
Nanovate raises $1m to scale Arabic-first AI solutions across MENA
Egyptian AI startup Nanovate has secured $1 million in a pre-seed funding round led by angel investors.
Founded by Nancy Madbouly and Ahmed Gamal just nine months ago, the company builds Arabic-native AI chat and voice agents, automation tools, and customized AI systems tailored to local dialects.
“This isn’t just another AI startup — it’s a movement to put Arabic at the center of global innovation,” said Ahmed Gamal, co-founder and CEO of Nanovate.
The funding will be used to expand operations in Ƶ and the UAE, scale the AI ecosystem, and deepen integration with business software platforms.
Nanovate, which has built its own LLM models, recently launched a beta dashboard allowing companies to deploy Arabic-language AI agents with emotion and speech recognition capabilities.
TachyHealth raises $5m series A to advance AI in healthcare
UAE-based health tech startup TachyHealth has raised $5 million in a series A round led by Saudi insurance giant Tawuniya, with participation from other investors.
The company develops AI-driven healthcare solutions to support payers and providers with smarter, value-based decision-making tools.
Founded by Osama AbouElkhir, Amr Fawzy, and Jamal Al-Naser, TachyHealth aims to reduce costs, enhance patient experience, and improve operational efficiency through AI.
With the new funding, it will scale its solutions across health care and insurance markets, strengthen partnerships, and further its mission to align clinical outcomes with financial performance.
How ecotourism is growing and attracting investment in Ƶ
Kingdom aims to tap into a global market expected to hit $901 billion by 2026
Updated 18 October 2025
SALEH FAREED
JEDDAH: Ecotourism has gained significant traction in recent years as more people become aware of the environmental impact of their travel choices.
The growing trend of ecotourism presented a unique opportunity for investors to not only profit but also contribute to sustainable development and conservation efforts.
Additionally, the market is expanding across all regions, driven by rising environmental awareness and government-backed sustainability initiatives.
According to Global Growth Insights, the market size was valued at $629.85 billion in 2024, projected to reach $753.43 billion in 2025, and expected to climb to $901.25 billion by 2026.
Interestingly, Middle Eastern countries are emerging as key destinations for luxury ecotourism and desert conservation experiences. Among those nations is Ƶ.
Cave resorts in Al-Baha's Shada Al-Asfal Mountain are emerging as favorite destinations in the southwestern region's tourism destinations. (SPA)
Through Vision 2030, the Kingdom is investing in sustainable tourism mega-projects and ecotourism. Sustainable tourism has emerged as a significant segment within Ƶ’s vast tourism industry, given its importance and impact.
Over the past few years, there has been increasing interest in Ƶ, much of it attributed to the Kingdom’s diverse eco-tourist destinations.
Indeed, Ƶ recognizes the potential of ecotourism and is working to become the region’s destination of choice.
Farasan islands in Jazan region is one of the Kingdom's favorite ecotourism destinations. (SPA file photo)
With its vast and varied landscapes, the Kingdom has several high-priority regions, including Asir and Jazan in the south and the Red Sea islands in the west. If all goes well, ecotourism is projected to contribute to the Kingdom’s target revenue of $133 billion in tourism by 2030.
From initiatives to preserve natural landscapes to projects to repopulate regions with native wildlife, the country is gearing up to open its doors to a world of nature lovers and travelers seeking the next breathtaking ecotourism spot.
Opinion
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Speaking to Arab News during the 27th session of the Near East Forester and Range Commission, Hoda Al-Bugami, general director of investment at the Saudi National Center for Vegetation Cover Development and Combating Desertification, said that there are numerous investment opportunities within the center’s plan to enhance environmental sustainability and open new horizons for natural tourism in the Kingdom.
“Ecotourism is a promising sector growing at a rate of 3-5 percent annually. Consider the camping and caravan market in national parks, which represents a vital economic sector with annual spending estimated at approximately $48 billion,” Al-Bugami said.
Sustainable tourism has emerged as a significant segment within Ƶ’s vast tourism industry, given its importance and impact. (Supplied)
In addition, she noted that direct ecotourism spending in Canada amounts to $7.5 billion, while annual nature tourism spending in Europe reaches $40 billion.
She added: “The center works to prepare sites in several aspects, including protecting vegetation cover and preventing environmental violations such as logging and overgrazing, developing natural resources and biodiversity, and creating natural environments and habitats.
“All of these factors attract investors, offering seasonal investment opportunities of up to three months and long-term investment opportunities that provide flexibility for investments of up to 25 years.”
DID YOU KNOW?
• Ecotourism can help reduce people’s negative impact on the environment through raising their awareness and appreciation for nature.
• The IUCN defines ecotourism as environmentally responsible visits to relatively undisturbed natural regions to enjoy and appreciate nature.
• Tourism is a billion-dollar industry, and many countries are investing in it, including countries in Europe as well as Australia.
She also affirmed that investment in ecotourism within Ƶ’s natural reserves strengthens the economy, bolsters local communities, and aligns with the strategic vision for a sustainable green economy.
“Forests and rangelands are the backbone of improving livelihoods for the local community and increasing the gross domestic product,” she said.
Ecotourism offers more than an opportunity to explore unique landscapes. Ƶ is home to various locations that make it special to explore, such as AlUla with its beautiful and ancient oasis, Asir with its mountains and coastline, the wonders of the Red Sea, and Al-Ahsa Oasis, which is the World’s largest oasis.
From initiatives to preserve natural landscapes to projects to repopulate regions with native wildlife, the country is gearing up to open its doors to a world of nature lovers and travelers seeking the next breathtaking ecotourism spot. (Supplied)
Ecotourism investment opportunities are abundant for local investors seeking to align their financial goals with sustainable development objectives.
Whether it is through supporting green accommodations, wildlife conservation initiatives, community-based tourism projects, or renewable energy infrastructure, these investment opportunities not only foster long-term profitability but also position business owners as leaders in the vital transition towards more sustainable tourism practices.
