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RIYADH: Saudi Investment Minister Khalid Al-Falih underscored the deepening strategic alignment between ������Ƶ and France during his address at the French-Saudi Economic Roundtable in Paris.  

He highlighted the significant progress achieved in fostering bilateral economic cooperation, particularly in the realm of foreign direct investment. 

������Ƶ and France are strengthening economic ties, with non-oil trade surpassing SR20 billion ($5.33 billion) in 2024. The partnership was further reinforced during President Emmanuel Macron’s visit in December, when both sides endorsed a strategic partnership roadmap and signed a memorandum of understanding to establish a Strategic Partnership Council. 

On his official X account, Al-Falih wrote: “I delivered the opening speech at the French-Saudi Economic Roundtable in Paris, in which I spoke about the strategic alignment in visions and the achievements accomplished.” 

He added: “What confirms the strength of our investment relations is the 180 percent increase in the volume of French direct investments in ������Ƶ over 5 years, reaching €16 billion ($18.79 billion).” 

The surge in French investment follows a flurry of deals and opportunities across multiple sectors. In June, Saudi and French entities outlined potential investments exceeding SR10 billion ($2.6 billion) in the aviation sector, including airport infrastructure, air navigation, ground support technology, workforce training, and digital solutions. 

During the Saudi-French Investment Forum in December, Al-Falih noted that bilateral trade exceeded €10 billion, with roughly €3 billion in French investment inflows in 2023, bringing total accumulated French FDI to around €17 billion.  

This growth reflects the success of ������Ƶ’s Vision 2030 economic reforms, which have streamlined the investment environment and encouraged foreign firms to diversify into industrial, commercial, and service sectors.   

The collaboration between ������Ƶ and France spans various sectors, including energy, infrastructure, and technology.  

Notably, during French President Emmanuel Macron's visit to Riyadh in December, TotalEnergies and EDF Renewables were awarded significant solar energy contracts, totaling 1.7 gigawatts in capacity. These projects are part of ������Ƶ's ambitious goal to achieve 130 GW of renewable energy capacity by 2030. 

RIYADH: Two years after its initial approval, the Gulf Cooperation Council’s long-awaited unified visa has entered its final approval phase  — and ������Ƶ is positioned to emerge as its biggest winner, experts told Arab News.

The new permit, which will allow seamless travel across all six Gulf states, promises to revolutionize regional tourism and business mobility.

But while the entire bloc stands to benefit, the Kingdom’s unique advantages — from its booming religious tourism sector to its aggressive Vision 2030 economic reforms — could make it the visa’s prime beneficiary. 

First proposed in 2023 and officially approved last year, the unified GCC visa will enable travelers to move freely between Bahrain, Kuwait, Oman, Qatar, ������Ƶ, and the UAE under a single permit. 

GCC Secretary General Jassem Al-Budaiwi confirmed earlier in September that the visa is in its final stages, marking a major leap toward a Schengen-style system for the Gulf.

For ������Ƶ, the timing couldn’t be better. The Kingdom has been expanding its tourism infrastructure as part of Vision 2030, with mega-projects such as Neom, the Red Sea resorts, and AlUla’s cultural oasis. 

The new visa will amplify these efforts by making it easier for travelers to combine Saudi stops with visits to Dubai’s luxury hubs and Qatar’s cultural landmarks — turning the Gulf into a multi-destination hotspot.

������Ƶ’s strategic edge 

������Ƶ has a strong religious tourism base. As home to Islam’s two holiest sites in Makkah and Madinah, the Kingdom already hosts millions of Hajj and Umrah pilgrims each year. The unified visa creates an opportunity to extend their stays and attract them to explore ������Ƶ’s growing cultural and leisure offerings.

In an interview with Arab News, Raymond Khoury, partner and head of technology and innovation management practice at Arthur D. Little Middle East, said: “The GCC unified visa system offers to enhance the experiences of these visitors by encouraging longer stays and facilitating travel to other cultural and historical sites, such as AlUla, Neom, and Diriyah to name a few.” 

He added: “Major airports such as Riyadh and Jeddah can serve as transit hubs offering short-stay cultural excursions to nearby sites like Diriyah or Qiddiya. The Kingdom can also promote multi-country itineraries — such as Jeddah to AlUla to Dubai or Muscat — using regional rail and low-cost air travel.”

The unified visa comes at a pivotal moment in ������Ƶ’s Vision 2030 tourism drive, aligning with the goal of attracting 150 million visitors a year by 2030.

Vijay Valecha, chief investment officer at Century Financial, told Arab News: “The Kingdom’s exceptional scale of tourism infrastructure, advanced digital and visa capabilities, and a calendar of globally recognized events collectively provide it with a competitive edge over its regional peers.”

He cited the “marquee events” of Formula 1 in Jeddah, Riyadh Season, and the Asian Winter Games in Trojena, as elevating the Kingdom’s global profile.

Khoury added that the unified visa is expected to accelerate ������Ƶ’s tourism and business diversification goals by attracting a larger number of international visitors. This would help fast-track the target of 150 million annual visits by 2030.

He noted that as traveling between various Gulf nations became easier, ������Ƶ would likely capture a greater share of regional tourism, positively impacting non-oil revenue growth. 

Geographic primacy as a regional hub is rooted in ������Ƶ’s central location in the Arabian Peninsula and its extensive land borders with multiple GCC states, making it the natural nexus for regional travel itineraries.

Khoury said: “Combined with its diversified offerings — from religious and cultural tourism to futuristic mega-developments — the Kingdom is set to gain the most from increased regional mobility and multi-country travel enabled by the GCC unified visa.”

Valecha noted that ������Ƶ’s strategic location enhanced its connectivity to the GCC and the Middle East and North Africa regions, being bordered by the UAE, Qatar, Bahrain, Oman, and the Red Sea — serving as a vital link to Egypt and Africa.

“Thus, KSA is well-positioned to capitalize on the GCC Unified Visa by serving as an indispensable connector between critical trade locations, tourism magnets, and other strategically significant destinations in the region,” Valecha added. 

Infrastructure boost

The successful implementation of the unified visa’s potential requires substantial infrastructure development, and ������Ƶ is making unprecedented investments in this area. 

“The unified visa is expected to accelerate flagship initiatives such as the GCC Railway, smart borders, and regional transport corridors. The aviation sector will play a central role in enhancing KSA’s hub status,” said Valecha.

He added that King Salman International Airport aims to attract 120 million passengers by 2030. He also noted that Riyadh Air’s first commercial flight is set to launch this year, and maintaining high-frequency connections to major GCC hubs will be key to facilitating cross-border travel.

Khoury said: “Critical infrastructure developments, such as enhanced aviation networks and rail systems, within the Kingdom and across the GCC, will be essential for capitalizing on this opportunity, allowing seamless travel between major locations.”

He added: “This includes developing Riyadh, Jeddah, and Dammam airports into regional connectors, launching Riyadh Air in 2025, and enhancing low-cost carrier networks to support short-haul intra-GCC travel.”

Khoury stated that completing the GCC Railway and connecting it with domestic lines such as Haramain and ������Ƶ Railways would enable seamless land mobility across the Kingdom and Gulf states.

Economic ripple effects 

The implementation of the unified visa is expected to create widespread economic benefits extending far beyond the tourism sector. 

“The tourism and hospitality sector is poised to witness significant growth due to heightened demand across hotels, transportation, and dining, boosting occupancy rates and spending per visitor,” Valecha said. 

He noted that the new visa would directly boost international arrivals, citing a UN Tourism report showing ������Ƶ’s 102 percent increase in the first quarter of 2025 in tourist arrivals compared to 2019.

Khoury added: “Beyond hospitality, sectors like logistics and entertainment stand to benefit significantly. The anticipated spike in travel will lead to increased demand for hotel capacity and mid-tier accommodations in key Saudi cities.”

He added that Saudi airlines and regional transport networks would likely expand routes and frequency, improving domestic and regional connectivity. 

The ADL official also noted that integrated travel platforms, covering bookings, visas, and itinerary planning, would create opportunities for tech innovation, highlighting potential growth in experience-based tourism, with rising demand for curated cultural, wellness, adventure, and religious-leisure packages.

Strategic business opportunities 

The unified visa presents numerous opportunities for investors and businesses positioned to capitalize on the expected surge in regional travel. 

Valecha noted the visa reforms would ease business travel for multinationals across GCC states, boosting trade and regional logistics. 

“The faster mobility of residents and nationals within the region would be conducive for business travel, significantly promoting the ease of doing business of GCC states globally,” he said.

Khoury emphasized the strategic implications, noting that businesses that deliver “seamless, cross-border offerings” will be best positioned to lead in this new era of regional tourism integration. 

“Additionally, the unified visa can significantly advance the Kingdom’s broader strategic ambitions over the next decade by enhancing talent mobility, regional economic integration, and soft power positioning.”

He added that the visa would attract global professionals, easing cross-border recruitment of skilled talent for key sectors like tech, healthcare and finance, directly supporting ������Ƶ’s Vision 2030 goals to become a regional innovation hub.

Long-term implications

The unified visa’s impact may extend well beyond immediate tourism and business benefits, potentially reshaping the Gulf’s geopolitical and economic landscape. 

On the economic front, Khoury explained, smoother cross-border access will facilitate trade, joint ventures, and supply chain integration, especially in logistics, manufacturing, and small and medium-sized enterprises, reinforcing the Kingdom’s push to lead in varied and resilient regional manufacturing and supply frameworks.

“Politically, ������Ƶ can strengthen its geopolitical influence by positioning itself as the central node of a more interconnected, mobile, and economically unified Gulf — further amplifying its leadership in regional policy, investment flows, and digital infrastructure alignment,” he added.

As the GCC unified visa moves from concept to reality, ������Ƶ stands at the threshold of a transformative opportunity to cement its position as the Gulf’s premier tourism and business hub. 

With its unique combination of religious significance, geographic centrality, and visionary economic planning, the Kingdom is uniquely positioned to emerge as the primary beneficiary of this historic regional integration initiative.