This week’s Saudi Round-Up shines a light on the $306B 2026 budget, the unveiling of $133M in cybersecurity investments, increased tourism spending, and non-oil GDP growth.
General Economy & Business
Saudi Approves 2026 Budget With $306Bn In Projected Revenues
Saudi Arabia approved its 2026 budget with projected revenues of $306 billion (SR1.15 trillion), representing a 5.1% increase over the 2025 estimate, underscoring gains from the Kingdom’s ongoing economic diversification. Crown Prince Mohammed bin Salman approved the budget during a Cabinet meeting in Dammam, setting total expenditure at $349.3 billion (SR1.31 trillion), slightly below the $357.3 billion (SR1.34 trillion) planned for 2025.
Water Chemicals Sector Attracts $266M Of Foreign Investment
Foreign investments in the water chemicals sector at the Saudi Water Authority have reached approximately $266.4 million, according to Deputy Governor for Strategic Companies and Local Content Mohammed Al-Sheikh. The authority aims to localize more than 18 strategic commodities in the coming phase, with plans to establish three specialized chemical manufacturing facilities in the northern, eastern, and western regions, producing chemical washing materials and anti-scalant products for export.
Saudi Seeks To Localize Veterinary Vaccine, Drug Production To Support Food Security
Saudi Arabia is prioritizing the localization of the veterinary vaccine and drug industry as part of the National Livestock and Fisheries Development Program. The initiative stems from the fact that animal vaccines significantly impact food security, given that 75% of animal diseases can be transmitted to humans, making localization essential. Several agreements were signed on the sidelines of the Future of Veterinary Biotechnology conference with pharmaceutical companies specializing in the veterinary field to empower, develop, and localize their operations in the Kingdom.
Classic Car Market Investments In Saudi Arabia Reach $26.7M
Saudi Arabia has emerged as the world’s largest importer of classic cars and one of the Gulf’s biggest markets, with investments exceeding $26.7 million (SR100 million), driven by growing local interest in vehicle customization. The trend reflects the expanding value of the market and the depth of opportunities it offers. In fact, there is now a move toward local manufacturing and customization of classic cars, rather than relying on overseas services, with some scrap cars in Saudi Arabia having been auctioned in the US for record prices reaching up to $30 million per vehicle.
New Website To Record All Real Estate Deals By Non-Saudis
Saudi Arabia has launched the ‘Saudi Properties’ platform to record all real estate ownership transactions involving non-Saudis, the Real Estate General Authority announced during Cityscape Global. The portal will serve as the official gateway for all ownership processes, enabling non-Saudis to browse real estate opportunities, communicate with developers, submit applications, verify eligibility, and connect with relevant entities. From January 22, 2026, non-Saudis will be able to purchase property in all of the Kingdom’s cities as the Non-Saudi Property Ownership Law takes effect
Trade & Investments
Global Trade Up 8.6% Annually, Reaching $144bn In 3Q 2025
Saudi Arabia’s international trade totaled around $144 billion (SR540.5 billion) in the third quarter of 2025, representing an 8.6% year-on-year increase of $11.5 billion (SR43 billion) from SR497.5 billion in Q3 2024. According to the quarterly international trade bulletin released by the General Authority for Statistics, merchandise exports accounted for 56.1% of total trade at $80.9 billion (SR303.3 billion), while imports represented 43.9% at $63.3 billion (SR237.2 billion), resulting in a trade surplus of $17.6 billion (SR66.1 billion).
Gulf Investors Forum 2025 Concludes With Launch Of Saudi-Georgia Investment Platform
The Global Investors Forum 2025 concluded its sessions in Tbilisi, Georgia, with the launch of the Saudi-Georgian Investment Platform, marking a significant milestone amid high-profile international participation from senior government officials, business leaders, policymakers, and entrepreneurs representing more than 40 countries. The platform emerged as a direct outcome of two days of discussions, bilateral business networking meetings, and sessions aimed at creating common ground for cooperation between Saudi and Georgian sectors.
Business Expansions
Asset Manager Guggenheim Plans Saudi Presence As Part Of Gulf Investment Push
US-based Guggenheim Investments, with approximately $357 billion in assets under management, is actively considering establishing an office in Saudi Arabia as part of its Gulf region expansion strategy. The asset manager aims to capitalize on investment opportunities in infrastructure and transportation sectors in the Kingdom.
Lucid Expands Footprint In Saudi Arabia With New Al Khobar Studio
Lucid Group announced the opening of its new studio in Al Khobar, marking a significant expansion that strengthens its growing presence in Saudi Arabia. The new facility completes Lucid’s three-city network across Riyadh, Jeddah, and the Eastern Province, offering customers the opportunity to experience the award-winning Lucid Air and the new Lucid Gravity SUV firsthand.
Saudi Arabia Named as the Top Destination for Hong Kong Companies’ Expansion
HSBC research reveals that Hong Kong businesses are now choosing Saudi Arabia as their preferred market for expanding production and supply chain diversification, as nearly 20% of Hong Kong companies preferred expanding into Saudi Arabia, compared to only 14% who opted for China.
Technology
Saudi Launches Major Cybersecurity Investment Package At Black Hat 2025
The Ministry of Investment unveiled over $133 million (SR500 million) in new cybersecurity investments during Black Hat Middle East and Africa 2025. During its participation, the ministry unveiled a range of investments by leading international and local cybersecurity firms, including opening regional headquarters, establishing operational branches, signing exclusive partnerships, and expanding into overseas markets.
Tourism
Domestic Tourism Spending Hits SAR 105 Billion In Q3
Saudi Arabia’s tourism sector achieved remarkable milestones in 2025, with total spending reaching $73.3 billion (SR275 billion) and visitor numbers surpassing 116 million, according to Vice Minister of Tourism Princess Haifa bint Mohammed bin Saud bin Khalid. Speaking at the Budget Forum 2026, she highlighted that domestic tourist spending exceeded $28 billion (SR105 billion) by the end of the third quarter of 2025, marking an 18% increase year-on-year.