Tag: Saudi Arabia
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Saudi Arabia Q1 2026 GDP Grows 3%: Financial Services Surge 5.4% as Non-Oil Economy Leads Vision 2030 Momentum
Saudi Arabia's real GDP expanded 3% year-on-year in Q1 2026, with financial services registering the highest sector growth at 5.4% and manufacturing rising 4%, as Vision 2030's economic diversification continues to outperform expectations.
Middle East Hotel Pipeline Hits Record 177,000 Rooms as Saudi Giga-Projects Lead Global Development
The Middle East closed the first quarter of 2026 with a record hospitality development pipeline of 717 projects totalling 177,110 rooms — up 12 per cent year-on-year — led by Saudi Arabia's giga-project portfolio as UAE hotel demand softens amid regional tensions.
GCC Achieves World’s Lowest Solar Costs at $0.01 Per kWh as Region Eyes Green Hydrogen Leadership
GCC countries are achieving record-breaking solar electricity costs of between 1.04 and 1.32 US cents per kWh — the lowest in the world — driven by exceptional solar irradiation and government-backed investment, as the region positions itself as a future green hydrogen exporter.
Saudi Arabia’s Vision 2030 Enters Final Phase With $1.31 Trillion Economy and 123 Million Tourists
Saudi Arabia has launched the third and final phase of Vision 2030 with its GDP exceeding $1.31 trillion and non-oil activities accounting for 55 per cent of the economy, while tourism has surpassed its original 100 million visitor target three years ahead of schedule.
GCC Fintech Enters New Era as Saudi Arabia Issues First Open Banking Licences and Blockchain Payments Go Live
Saudi Arabia's SAMA has issued its first live open banking licences, transitioning from sandbox to full commercial operations, while Riyad Bank and Bahrain have completed live blockchain payment pilots — marking a turning point for GCC financial services innovation.
