Tourist arrivals, spending rise in 2023

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WHAT WE’RE TRACKING TODAY

THIS MORNING: PMI data to be released today

Good morning, ladies and gentlemen. It’s a reasonably-paced Monday morning, although earnings season continues to lead the news cycle. We have updates on last year’s tourism figures — including tourist arrivals and spending habits — along with a potential new glass production facility in Jubail.

BUT FIRST- There’s still no word on whether Crown Prince and Prime Minister Mohammed bin Salman and Palestinian President Mahmoud Abbas met yesterday, after the Times of Israel reported on Friday that Abbas was due in town yesterday.

HAPPENING TODAY-

#1- It’s PMI day: S&P Global’s purchasing managers’ index for Saudi Arabia, the UAE, Egypt, and Kuwait is set to be released shortly after we hit “send” on this morning’s issue. We’ll have the full rundown in tomorrow’ morning’s edition of EnterpriseAM Saudi.

#2- The International Falcon Production Farms Auction 2024 kicks off today and runs through Saturday, 24 August, at the Saudi Falcons Club, according to a statement. The event is expected to feature over 35 farms from 16 countries, showcasing elite falcon breeds. In the past three years, the auction has booked over SAR 18 mn in sales.

⚠️WEATHER WARNING- Brace for varying degrees of torrential rains all over the Kingdom starting today and through to Friday, with expectations these conditions could persist until the end of next week, according to a warning issued by the National Center for Meteorology (pdf). Jizan already had its fair share of rain and flooding over the weekend.

HAPPENING TOMORROW-

Aramco is set to release its 1H 2024 results tomorrow, according to its website. You can tune into the audio webcast of its earnings call here. The oil giant’s net income dipped a bit more than 14% in 1Q 2024 to SAR 102.3 bn.

PSAs-

#1- The Saudi Embassy in Beirut is urging Saudi citizens to leave the country immediately as tensions rise and the outbreak of further violence on the Lebanon-Israel borders is imminent, according to a statement on X.

FOR EMERGENCIES: In case of emergency, you can reach Saudi’s embassy in Beirut on 009611762711 or 009611762712.

#2- Businesses have five more months to submit their tax returns if they want to take advantage of a fine waiver scheme put in place by the Zakat, Tax and Customs Authority, the authority said in a statement. It set a new deadline of 31 December, 2024 after a previous deadline expired on 30 June. For inquiries call 19993.

#3- Subscribers to the Real Estate Development Fund’s programs have until Saturday, 2 November to request a deadline extension to complete construction on their home, state news agency SPA reports. Beneficiaries of the fund’s self-build program and land-and-loan program can now extend their home building deadline for a period between 4 and 16 months through the fund’s electronic service. For inquiries call 199088.

OIL WATCH-

The Kingdom has increased the price of its flagship crude oil, Arab Light, for Asian markets for the first time in three months, Bloomberg reports, citing a price list it had seen. The September official selling price was raised by USD 0.2 to USD 2 / bbl above the regional Oman-Dubai benchmark. The story also got ink in Reuters.

What gives? This increase, although less than the USD 0.5 rise anticipated by a Bloomberg survey of traders and refiners, indicates Riyadh’s confidence in the demand from Asia, the world's largest importer of crude.

Selling at a markdown to others: The price for Arab Light crude in Europe was reduced by USD 2.75, marking the biggest cut since the pandemic. Similarly, the price for the US decreased by the most significant amount since February.

REMEMBER- OPEC said on Friday it would leave oil production unchanged as it continues to “monitor the impact of its [current output cuts] on global markets.”

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THE BIG STORY ABROAD-

It’s somewhat of a mixed bag in the international business press this morning, with front-page coverage split between one of two stories — an equity selloff on the back of US recession fears, and global concerns of escalation between Iran and Israel following Hamas leader Ismail Haniyeh’s assassination in Tehran.

Recession fears in the US after “alarming” US economy data — including a jump in unemployment rates to 4.3% — have thrown equity markets into a tailspin, with the S&P 500 and Nasdaq Composite both tumbling from their record highs. Markets are now pricing in a “near 70% chance” that the US Federal Reserve will move to cut interest rates come September, with some suggesting that it could move to cut rates by 50 bps next month. Analysts say the Fed will need to bring down rates “sharply, and quickly, to support growth.”

The sell-off isn’t remaining contained in the US, with Asia-Pacific markets approaching bear market territory after entering a third day of a sell-off triggered by a surging JPY, coupled with Middle East tensions and the Bank of Japan raising interest rates last week. (Bloomberg | CNBC | Reuters | Financial Times)

The market stability also isn’t being helped by rising tensions in our backyard, with leaders bracing for retaliatory attacks against Israel from Iran and Hezbollah “as early as Monday” following Israeli assassinations of senior leaders of both Hamas and Hezbollah last week. Hezbollah and Israel “exchanged limited fire” yesterday, with the Lebanon-based group saying it fired rockets into northern Israel, but it appears to be far from a full-fledged retaliatory attack. US and Arab leaders have called on Iran to “show restraint” and are pushing for a de-escalation. (Bloomberg | Wall Street Journal | New York Times)

MEANWHILE- Kamala Harris shot down Donald Trump’s pitch for a 4 September debate on Fox News, with Harris’ campaign claiming Trump is trying to avoid the originally scheduled debate on ABC. The ABC debate was penciled in with President Joe Biden before his withdrawal from the presidential race. Trump argued the debate on Fox would follow similar rules to his prior debate with Biden, featuring a full arena audience in Pennsylvania, and claimed Biden’s withdrawal effectively “terminated” the ABC debate — a point ABC has not confirmed. (Reuters)

OLYMPICS-

It was another busy day in Paris — here’s everything you need to know about day 9 of the 2024 Olympics.

Meet the world’s fastest man: Noah Lyles did not disappoint the Americans who have high hopes for him to restore the United States’ glory in short-distance track and field events. Lyles managed to nab the gold medal in the 100-meter dash, which was dramatically decided by a photo finish after both Lyles and Jamaican Kishane Thompson clocked a time of 9.79 seconds. The US also secured the bronze medal in the race through sprinter Fred Kerley.

A first for Africa: Algeria’s 17-year-old gymnast Kaylia Nemour won gold in the women’s individual event on the uneven bars — Nemour becomes the first Arab and African gymnast to secure an Olympic gold.

Djokovic secures his long-awaited Olympic gold: Serbian tennis legend Novak Djokovic completed the missing piece in his career by securing the gold medal in the men's singles after defeating Spain’s golden boy Carlos Alcaraz in a marathon match with two sets, both ending 7-6. With this game, Djokovic has become the oldest Olympic gold medalist in men’s singles at age 37. He is also the fifth player to complete a Golden Slam having earned all four Grand Slam titles and an Olympic gold, alongside Steffi Graf, Andre Agassi, Rafael Nadal, and Serena Williams.

China ended America’s 40-year monopoly of the men's swimming 4x100 medley relay with a perfect finish by the world record holder in the 100-meter freestyle, Pan Zhanle. Until yesterday, the US had never lost this race in the Olympics since it was introduced 64 years ago in the Rome Games, snagging the gold in every run of the games except in 1980, when it boycotted the Moscow Games.

Meanwhile, South Korea sweeps archery gold: The Koreans have secured all five available gold medals in archery after claiming the men's individual gold yesterday.

Egypt is heading to the quarterfinals of the men’s handball tournament, where it will face Spain on Wednesday at 10:30am. Egypt secured its spot in the quarterfinal after placing second in their group after defeating Argentina 34-27 yesterday.

The medal standings now at the Paris Olympics:

United States (19 gold, 71 overall)
China (19 gold, 45 overall)
France (12 gold, 44 overall)
Australia (12 gold, 31 overall)
South Korea (10 gold, 24 overall)

Want to see when your favorite sport is on? Check out the official schedule here.

CIRCLE YOUR CALENDAR-

Small and medium enterprises regulator Monsha’at will hold a franchise tour of five cities on 12-13 August (Monday and Tuesday). The tour, which starts in Khobar and includes stops in Abha, Qassim, Hail and Jeddah, will showcase success stories in the sector. The tour then picks up with seven stops scheduled for an installment next year.

Cybersecurity training event SANS Riyadh Cyber Leaders August 2024 will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya.

The eight-week Esports World Cup runs until Sunday, 25 August Riyadh’s Boulevard City. The world’s top esports clubs are competing for a pool of USD 60 mn — the largest purse in esports.

The two-day Middle East LPG Expo - Saudi Arabia 2024 will open on Tuesday, 10 September, bringing together upwards of 4k liquified petroleum gas (LPG) experts to discuss the future of the fuel gas in clean energy. Saudi accounts for 50% of demand for LPF in the Middle East and Africa.

The TotalEnergies CAF Super Cup Final 2024 between Egyptian rivals Al Ahly and Zamalek will be held in Riyadh on Friday, 27 September. The venue and kick-off time of the match will be announced at a later date.

This year’s edition of security-focused expo Intersec Saudi Arabia will run from Tuesday, 1 October to Thursday, 3 October at the Riyadh International Convention and Exhibition Center.

International food and beverage expo InFlavour is returning to Riyadh on Tuesday, 1 October. The three-day event — which will be organized in collaboration with the Environment, Water and Agriculture Minister, Tahaluf, Pepsico, Al Rabie, Arasco and Nadec — will take place in Riyadh’s Front Exhibition and Conference Center.

Saudi reels in SAR 255.6 bn from tourists in 2023

The Kingdom welcomed 27.4 mn foreign tourists in 2023 — up 64.8% y-o-y, according to the Tourism Ministry’s dashboard. Tourist spending from both domestic and inbound tourism also 24.3% y-o-y to SAR 255.6 bn over the same period, with domestic tourists accounting for SAR 114.4 bn and inbound tourists spending around SAR 141.2 bn during the year, the ministry’s statistics indicate.

GCC tourists came to Saudi in droves: Some 8.6 mn tourists came from neighboring Gulf countries, accounting for 31.5% of all inbound tourists. These tourists spent a little over SAR 15 bn in the Kingdom — around 10.6% of all inbound tourist spending. Tourists from Asia were a close second at 7.9 mn tourists, but spent the most in the country at SAR 55.1 bn. Middle East tourists were the second-highest spenders at SAR 32.9 bn.

Inbound tourist numbers peaked in December, with 2.9 mn people landing in the Kingdom and spending SAR 10.6 bn during the last month of the year. Spending, however, peaked in June with a total of SAR 30.3 bn in spending from the 2.85 mn inbound tourists during the summer month.

Religious tourism took the lion’s share of tourist spending and visits, with 11.6 mn pilgrims spending SAR 77.4 bn during their visits. Business travel brought in 1.9 mn visitors spending SAR 12.8 bn throughout the year.

REMEMBER- We have big tourism ambitions: The Tourism Ministry doubled its target for 2030 earlier this year, hoping now to be host to 150 mn tourist trips after it hit its target last year ahead of schedule. The new 2030 target sees 80 mn by domestic travelers and 70 mn by international travelers. The ministry also launched in May a program to make it easier for foreign and domestic investors to get licenses for a range of activities, with fees and procedures pegged to the type and scale of operations in the hospitality sector. The government is investing some USD 800 bn into the tourism sector under plans to build new future destinations, including Neom, the Red Sea, Diriyah, and Qiddiya, among others.

Zoujaj unit Gulf Guard eyes SAR 806 mn glass factory in Jubail

Saudi Guardian International Float Glass (Gulf Guard) is looking into setting up a SAR 806 mn plant to produce flat and insulating glass, parent company Zoujaj said in a disclosure to Tadawul. The company will begin to study the feasibility of the plant after earning approval from its board, and has yet to provide any information about the project’s prospective timeline and financing plans.

Location + production capacity: The new facility will be located in Jubail and will have a daily production capacity of 750 tons, the disclosure said.

What’s Gulf Guard? Gulf Guard is a majority-owned subsidiary of Tadawul-listed glass manufacturer National Company for Glass Industries (Zoujaj). The parent company revealed, in April, its plan to add a SAR 47 mn sixth production line, expected to go online in December 2024 with an annual production capacity of 25k tons. Zoujaj also holds a 50% share in The Saudi National Lamps and Electricals Company in Al Hofuf, and it’s a majority owner in Guardian Ras Al Khaimah in the UAE.

More glass plants are expected to go online this year: Tadawul-listed glass manufacturer Raoom Trading is looking to launch a laminated glass production line with Germany's Benteler with production expected to kick off at the end of October.

Earnings season is well underway

SABIC-

Saudi Basic Industries Corporation (Sabic) saw its net income grow 85% y-o-y in 2Q 2024 to SAR 2.18 bn, with revenues growing 5% y-o-y during the quarter to SAR 35.7 bn, it said in an earnings release (pdf). Net income was up 32% y-o-y to SAR 2.4 bn in 1H 2024, while revenues inched down 3% to SAR 68.4 bn. Sabic’s results were picked up by Reuters and Bloomberg.

Sabic did better than expected: The petrochemical giant’s latest results beat analyst expectations of SAR 904.3 mn in net income during the second quarter of the year, Reuters reported citing LSEG data. Sabic’s favorable results for 2Q 2024 may also serve as an indication that the global petrochemicals industry is seeing a turnaround after concerns over uncertain outlook in recent months, according to the business news information service.

We still don’t know the price tag of the Hadeed sale: The first-half results don’t account for the proceeds from the sale of Sabic’s steel unit Hadeed to the PIF, which was completed last quarter. Sabic said that “the final sales price will be known…during the 2H 2024,” according to a disclosure to Tadawul in May. Aramco’s unit had expected earlier this year the transaction to draw USD 1.7 bn-USD 1.9 bn in proceeds.

RIYAD BANK-

Riyad Bank reported net income of SAR 2.3 bn in 2Q 2024, up 17.9% y-o-y, it said in a disclosure to Tadawul. Its total income from financing rose 15.3% to SAR 5.2 bn, while total income from investments grew 8.6% to SAR 601.3 mn. The bottom line increase was attributed to growth in fee and commission income, exchange income, and other operating income. This is in addition to a decline in losses on disposal of non-trading investments, and a decrease in total operating expenses.

On a 1H basis: Riyadh Bank’s bottom line grew 10.2% y-o-y to SAR 4.4 bn in 1H 2024. Income from financing rose 19.2% to SAR 10.3 bn, while income from investments increased 11% to SAR 1.2 bn.

ACWA POWER-

Renewables player Acwa Power's net income increased 52% y-o-y to SAR 631 mn in 2Q 2024, according to its investor report (pdf ). Revenues also rose 10.7% to SAR 1.6 bn during the period.

Driving the rally: The company attributed the better performance in its bottom line to gains from divestments, higher margins from its subsidiaries, along with higher finance income (which usually includes income from interest, dividends, capital gains, and investment returns), according to a disclosure to Tadawul.

Acwa posted a 35.5% y-o-y rise in bottom line to SAR 926.8 mn in 1H 2024, while revenues grew 2.6% to SAR 2.8 bn.

RETAL URBAN DEVELOPMENT-

Real estate developer Retal Urban reported a SAR 72.2 mn net income for 2Q 2024, up 1.7% y-o-y, it said in a disclosure to Tadawul. The improved performance was driven by a 76% y-o-y increase in revenue to SAR 464 mn. Meanwhile, Retal Urban saw its bottom line rise 19.5% y-o-y to SAR 134.5 mn in 1H 2024, and its top line increased 65% to 964 mn.

Driving the growth: Retal pointed to growing revenues from investment funds and joint projects, coupled with “high completion rates” and growth in the number of units sold in its projects as major drivers for its higher topline. The company now has 16 ongoing projects, up from 11, according to the disclosure. Retal’s net income during the quarter grew y-o-y despite growing expenses, including sales and marketing, administrative expenses, and financing costs.

TASNEE-

National Industrialization (Tasnee) reported a 68.2% y-o-y increase in net income to SAR 52.8 mn in 2Q 2024, and revenues rose 13% to SAR 1 bn, it said in a disclosure to Tadawul. Meanwhile, the company recorded a net loss of SAR 19.2 mn in 1H 2024 — reversing a SAR 59.7 mn gain seen during the same period last year.

Al Baha wraps up due diligence for its full acquisition of subsidiary Elegant Centers. Plus: Debt, startup, infrastructure, real estate news

M&A WATCH-

Al Baha closes in on Elegant Centers acquisition: Al Baha Investment and Development signed an MoU with subsidiary Elegant Centers to acquire 13.06% of Elegant Centers, making Al Baha its sole owner, according to a disclosure to Tadawul. The two sides signed the agreement after Al Baha completed the due diligence process. The transaction is valued at SAR 19.6 mn.

REAL ESTATE-

Egyptian real estate developer Palm Hills Development has set up a Saudi branch and appointed Aldar Properties-owned SODIC’s former managing director Magued Sherif (LinkedIn) as its CEO, it said in an EGX disclosure (pdf).

Other Egyptian developers have also made their way to the Kingdom, including real estate giant Talaat Moustafa Group (TMG), which in May launched a smart residential development in Riyadh. The project has hit SAR 3.3 bn in sales since its launch.

AVIATION-

National carrier Saudia will operate four weekly flights between Medan in Indonesia and both Jeddah and Madinah starting Saturday, 31 August, it said in a statement. Indonesia has the largest Muslim population in the world, making the case for Saudia to double down on its presence there, to serve pilgrims.

DEBT WATCH-

Food maker Wafrah for Industry and Development has obtained SAR 50 mn one-year credit facilities from Saudi National Bank, it said in a disclosure to Tadawul. The credit facility is earmarked for financing the company’s credit lines, invoices, and working capital.

STARTUP WATCH-

A new Saudi-Chinese media accelerator in town: The Saudi Media Academy has launched a new media startup accelerator program in collaboration with eWTP Arabia, Saudi Cloud Computing Company (Alibaba Cloud Saudi), and China’s Fujian Youth Federation, state-owned news agency SPA reported. The initiative aims to support entrepreneurs working in the media sector by offering resources and mentorship covering the use of AI in media, digital content creation, data science, and interactive media.

INFRASTRUCTURE-

The National Water Company has broken ground on 17 projects in the Eastern Province costing a combined SAR 2.2 bn, state news agency SPA reported. The projects include water treatment plants, pumping stations, and sanitation infrastructure in Al Khobar, Al Ahsa, Al Khafji, Al Jubail, Al Qatif, Dammam, and Qaryat Al Ulya.

Investors are piling into Turkish assets as the country’s reform program bears tentative fruit

Turkey is getting accolades for its economic policy turnaround: Turkish President Recep Tayyip Erdogan turned heads last month with news that Turkey has returned a USD 5 bn central bank deposit to Saudi Arabia, a vote of confidence in the country’s economy. This came shortly after Moody’s raised Turkey’s credit rating two notches from B3 to B1 — its first raise in over a decade.

Investors have already taken note: Far from the emerging market menace of yore, Turkey has become the belle of the ball, with nearly USD 30 bn being channeled from abroad into Turkish stocks and bonds since May 2023, Bloomberg reports. There has been a 6.3% rise in TRY-denominated bonds in the same period — far outstripping the average of 1.1% in similar emerging markets — and the Borsa Istanbul100 stock index has been among the best performing in the world.

Turkey’s ascent to emerging market darling was not always in the cards: Decades of unorthodox monetary policy saw the Turkish central bank cut interest rates in the face of double-digit inflation and engage in market-confounding about-faces on policy that prompted foreign investors to run for the hills. Central bank attempts to challenge Erdogan’s unconventional economic views by raising interest rates saw offending technocrats fired and replaced by more pliable alternatives.

What’s changed? Most observers mark the June 2023 appointment of former economy chief Mehmet Simsek as treasury and finance minister as the inflection point that set the country on its current trajectory. Within nine months of his appointment, Simsek and new leadership at the central bank had hiked interest rates a whopping 41.5 percentage points, from 8.5% in June 2023 to 50% in March 2024. The timing of Simsek’s appointment was no accident either, coming one month after tight presidential elections saw Erdogan squeak his way into a third term.

Despite apparent commitment to reform, those in the know suggest taking the turnaround with a pinch of salt. Observers caution that the policy shift is still in its early days, with significant room for a reversal should electoral exigencies come into play. The country also continues to see inflation rates above 70%, with the fruits of newly-appointed Fatih Karahan ’s punishingly tight monetary policy yet to fully materialize.

MARKETS THIS MORNING-

Major Asian benchmarks are in the red this morning, which CNBC blames on investors adopting a wait-and-see approach as they wait for key trade data from China and Taiwan and interest rate decisions from the central banks of Australia and India due later this week. Japan’s Nikkei is down almost 6% at dispatch time — inching closer to bear territory, after falling near 20% since its high recorded on 11 July — the Kospi is down almost 5%, and the Hang Seng fell close to 1%.

Meanwhile, US stock futures fell last night after a particularly volatile week that pushed the Nasdaq into correction — it fell over 10% since 11 July.

TASI	11,754	-2.4% (YTD: -2.3%)
MSCI Tadawul 30	1,475	-2.5% (YTD: -5.5%)
NomuC	26,129	-1.8% (YTD: +6.7%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	28,504	-2.9% (YTD: +14.5%)
ADX	9,292	-0.8% (YTD: -3.1%)
DFM	4,237	-1.0% (YTD: +4.4%)
S&P 500	5,347	-1.8% (YTD: +12.1%)
FTSE 100	8,175	-1.3% (YTD: +5.7%)
Euro Stoxx 50	4,639	-2.7% (YTD: +2.6%)
Brent crude	USD 76.81	-3.4%
Natural gas (Nymex)	USD 1.97	-0.5%
Gold	USD 2,470	-0.4%
BTC	USD 58,903	-2.9% (YTD: +39.7%)

THE CLOSING BELL: TADAWUL-

The TASI dipped 2.4% yesterday on turnover of SAR 6.5 bn. The index is down 2.3% YTD.

In the green: Tawuniya (+8.0%), Amak (+4.0%) and Taleem Reit (+2.2%).

In the red: Kingdom (-10.0%), Talco (-10.0%) and Oasis (-10.0%).

THE CLOSING BELL: NOMU-

The NomuC closed down 1.8% yesterday on turnover of SAR 36 mn. The index is up 6.7% YTD.

In the green: Almohafza for Education (+9.0%), Naseej Tech (+6.8%) and Almuneef (+4.9%).

In the red: Mulkia (-7.9%), Saudi Top (-7.7%) and NGDC (-7.5%)

CORPORATE ACTIONS-

Al Hammadi Holding is set to distribute SAR 56 mn in dividends to shareholders for 2Q 2024, at SAR 0.35 per share, it said in a disclosure to Tadawul. Distribution will be on Wednesday, 21 August.

Sumou Real Estate plans to distribute SAR 25 mn in dividends to shareholders for 1H 2024, at SAR 0.5 per share, it said in a disclosure to Tadawul. Distribution will be on Monday, 30 September.

Zoujaj will distribute SAR 19.7 mn in dividends at SAR 0.6 per share, it said in a disclosure to Tadawul. Distribution is set for Thursday, 22 August.

Bawan has approved a SAR 36 mn dividend distribution at SAR 0.6 per share for 1H 2024, it said in a disclosure to Tadawul. The distribution date is set for Thursday, 10 October.

Catrion Catering Holding is set to distribute SAR 94.3 mn in dividends at SAR 1.2 per share for 1H 2024, it said in a disclosure to Tadawul. The distribution date is set for Sunday, 15 September.

CALENDAR

JULY

4 July-25 August: (Thursday-Sunday): Esports World Cup, Boulevard Riyadh City, Riyadh.

AUGUST

12-13 August (Monday-Tuesday): Monshaat Franchise Tour, Al-Khobar.

12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh.

18 August (Sunday): New academic year begins.

18-22 August (Sunday-Thursday): SANS Riyadh Cyber Leaders August 2024, Hyatt Regency Riyadh Olaya.

27-29 August (Tuesday-Thursday): Saudi Fashiontex Expo, Riyadh.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh.

2-4 September (Monday-Wednesday): Saudi Wood Expo, Riyadh.

3-5 September (Tuesday-Thursday): 24 Fintech, Front Exhibition & Conference Center, Riyadh.

9-11 September (Monday-Wednesday): International Manufacturing Congress, Riyadh.

10 September (Tuesday): Saudi Arabia Investors Forum, Riyadh.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh.

10-11 September (Tuesday-Wednesday): Middle East LPG Expo – Saudi Arabia 2024, Intercontinental Hotel, Riyadh.

10-12 September (Tuesday-Thursday): Saudi Sports Show, Riyadh.

10-12 September (Tuesday-Thursday): Global AI Summit, Riyadh.

11-12 September (Wednesday-Thursday): The Saudi Event Show, Riyadh.

16-19 September (Monday-Thursday): Foodex Saudi, Riyadh.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh.

17-19 September (Tuesday-Thursday): Hotel & Hospitality Expo, Front Exhibition & Conference Center, Riyadh.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam.

18-19 September (Wednesday-Thursday): IDC Saudi Arabia CIO Summit 2024, Riyadh.

24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, Riyadh International Convention and Exhibition Center, Riyadh.

23 September (Monday): National Day (national holiday).

27 September (Friday): CAF Super Cup Final 2024, Riyadh.

29 September-1 October (Sunday-Tuesday): Jeddah Construct Expo, Jeddah.

OCTOBER

1-3 October (Tuesday-Thursday): Intersec Saudi Arabia 2024, Riyadh.

5-7 October (Saturday-Monday): Middle East Education & Training Exhibition 2024, Jeddah.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh.

21-22 October (Monday-Tuesday): Aussie Expo, King Abdullah Financial District Conference Center, Riyadh.

21-23 October (Monday-Wednesday): Global Health Exhibition 2024, Riyadh.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires.

NOVEMBER

2-9 November (Saturday- Saturday): WTA Finals, Riyadh.

4-7 November (Monday-Thursday): Saudi Build, Riyadh.

26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh.

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh.

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Dammam.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam.

25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh.

DECEMBER

1 December (Sunday): Opec+ to meet.

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh.

3-5 December (Tuesday-Thursday): The International Business Exchange – IBEX EVENTS, Riyadh.

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.

11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034

23-26 December (Monday-Thursday): Aqarat Expo, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

FEBRUARY 2025

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference.

14-15 February (Friday-Saturday): Formula E, Diriyah.

JUNE 2025

26 June (Thursday): 2024-2025 academic year ends.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

2027

The World Water Forum takes place in Riyadh.

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