Riyad Bank has officially announced the commencement of electronic voting for its General Assembly (the first Assembly), starting from 1:00 AM on Wednesday, April 9, 2025. This electronic voting will continue until the conclusion of the assembly meeting, allowing shareholders to participate conveniently from anywhere.
This initiative is part of Riyad Bank's efforts to enhance shareholder engagement and streamline the voting process. By adopting electronic voting, the bank aims to provide a more efficient and accessible way for its shareholders to express their opinions on key matters affecting the institution.
In a separate yet significant development, the Ministry of Tourism in Saudi Arabia has reported a remarkable achievement in the tourism sector, highlighting a surplus in tourist spending for the year 2024. The surplus is estimated to be around 50 billion riyals, marking a milestone in the country's economic diversification efforts under Saudi Vision 2030.
According to data released by the Ministry of Tourism, the annual surplus in the travel account of the balance of payments recorded a notable growth of 7.8%, reaching 49.8 billion riyals in 2024, compared to 46.2 billion riyals in 2023. This growth reflects an increase in spending by international tourists visiting the kingdom and a surge in interest in various tourist destinations within Saudi Arabia.
International tourist spending in Saudi Arabia during 2024 reached approximately 153.6 billion riyals, up from 135 billion riyals in 2023, representing a growth rate of 13.8%. This increase not only underscores the kingdom's rising appeal as a global tourist destination but also aligns with the broader objectives of Saudi Vision 2030, which seeks to diversify the national economy and enhance the tourism sector's contribution to the local product.
Dr. Abdullah Al-Merai, an associate professor in the Department of Media and Communication at King Khalid University and a member of the board of directors of the Saudi Association for Media and Communication, noted that this achievement is a testament to the government's successful policies aimed at stimulating international tourism. He emphasized that the growth in tourist spending is a clear indication of Saudi Arabia's commitment to developing its tourism infrastructure and services.
The upward trend in tourism spending is expected to continue, as the country invests in enhancing its offerings and attracting a diverse range of visitors. The government has been focused on improving facilities and experiences for tourists, which has contributed to the increased interest in Saudi Arabia as a travel destination.
In conclusion, both Riyad Bank's electronic voting initiative and the impressive growth in the tourism sector reflect the ongoing efforts within Saudi Arabia to modernize its economy and enhance engagement in various sectors. These developments not only signify progress towards achieving the goals set out in Saudi Vision 2030 but also highlight the kingdom's potential as a thriving hub for both business and tourism.
