PIF’s AviLease secures investment-grade ratings from Moody’s, Fitch

JEDDAH: Qatar recorded 50 million riyals ($13.8 million) in new industrial investments and a 32 percent rise in commercial registrations in the first quarter of 2025, underscoring momentum in its economic diversification and reform agenda.

At its quarterly meeting held on April 28 and chaired by Minister of Commerce and Industry Sheikh Faisal bin Thani Al-Thani, the ministry reviewed key performance indicators and introduced several policy updates aimed at bolstering the business environment.

Among the major reforms highlighted were streamlined company registration procedures for foreign investors and simplified environmental permitting processes.

“The meeting also discussed cooperating with the Ministry of Transport to include logistical activities under a single commercial registration; and announcing the automatic issuance of a tax card upon issuing a commercial registration,” the ministry said in a press release.

In January, Qatar unveiled two major policy frameworks: the Ministry of Commerce and Industry Strategy and the Qatar National Manufacturing Strategy 2024–2030. Under the theme “Achieving Sustainable Economic Growth,” the initiatives are aligned with Qatar National Vision 2030 and aim to enhance private sector participation, expand manufacturing capabilities, and attract foreign direct investment.

The strategies target a 3.4 percent compound annual growth rate in non-oil sectors by 2030 and aim to secure $100 billion in foreign investment, while promoting an innovation-driven economy.

As part of its efforts to support local industry, the ministry launched a new “National Product” webpage to promote fair competition and improve product quality. The verification period also began for factories seeking benefits under the In-Country Value Plus policy.

“The meeting further discussed the key performance indicators for various sectors and administrative units. Results showed that the contribution of the manufacturing sector to real gross domestic product reached 52.4 billion riyals in 2024,” the ministry said.

Qatar also made notable gains in global competitiveness, climbing from 18th in 2022 to 11th in 2024 in the International Institute for Management Development’s business efficiency rankings.

During the first quarter, the ministry conducted 39,558 inspection campaigns and reported significant progress under the Third National Development Strategy.

“The meeting also reviewed the progress of projects under the Third National Development Strategy – concluding that 17 percent of the ministry’s projects were completed and work is ongoing on 23 percent of projects,” the report said.

Efforts to reduce service fees and simplify business registration for overseas investors have contributed to an 87 percent increase in new commercial licenses compared to the same period in 2024. The time required to issue commercial registrations has also decreased significantly.

“Furthermore, the increase of permissible activities for home-based businesses from 10 to 63 activities led to a 54 percent surge in the number of home business licenses,” the ministry noted.

The Single Window platform introduced three new e-services in the first quarter, with 38 additional services scheduled for rollout later this year, supported by strong user satisfaction.

“Local patent applications, trademark registration applications, and copyright registration applications grew by more than 18 percent compared to the first quarter of 2024,” the statement added.

On the industrial front, eight new factories were launched in Q1, and non-hydrocarbon industrial exports reached approximately 29.8 billion riyals. The ministry also began reviewing six potential public-private partnership opportunities.

In consumer affairs, authorities ramped up inspection and awareness campaigns to deter trade violations and reviewed the nation’s strategic stockpile and food and fodder security.

The meeting was attended by Minister of State for Foreign Trade Affairs Ahmed bin Mohammed Al-Sayed, Undersecretary Mohamed bin Hassan Al-Maliki, assistant undersecretaries, and department directors.

It concluded with a review of project milestones and discussions on overcoming implementation challenges while improving operational performance.

RIYADH: Saudi travel bookings surged in the first quarter, 2025, with regional demand up 14 percent driven by mobile-first convenience, flexible payments, and value-focused accommodations, a new report showed. 

Released by Almosafer, a Saudi travel firm under Seera Group, the report also highlighted a rise in international bookings, with a 11 percent year-on-year increase. 

Domestic reservations grew by 4 percent annually, along with strong expansion in the Middle East and North Africa region and long-haul international travel. 

The findings reflect a shift in Saudi travelers’ preferences, as they increasingly explore both local and global destinations, with a growing emphasis on adaptability, ease of booking, and affordability. 

This comes as Saudi Arabia’s airports handled 128 million passengers in 2024, a 45.8 percent increase since the launch of Vision 2030 in 2016, according to the Kingdom’s latest annual report on the initiative.  

Muzzammil Ahussain, CEO at Almosafer, said: “The continued growth in travel demand across domestic, regional, and international markets reflects a robust appetite and confidence for exploration among Saudi travelers.” 

He added: “We’re seeing a clear shift toward value, flexibility, and personalized experiences, whether it’s through choosing alternative accommodations, mixing and matching flight options, or leveraging mobile-first payment methods like Apple Pay and flexible options like buy now, pay later.” 

The report noted that flight bookings grew across all markets, with the MENA region leading at a 12 percent increase, while international flights rose by 5 percent.  

Room nights booked for domestic stays surged by 14 percent, and international trips climbed 13 percent.  

Saudi travelers are benefiting from a wave of local tourism initiatives and enhanced international airline connectivity. 

Government-backed events and infrastructure projects are fueling domestic exploration, while expanded flight routes and eased visa policies are making global travel more accessible. 

Almosafer noted that the strong demand for domestic stays was fueled by a growing range of events and unique experiences within the Kingdom.  

Payment preferences shifted notably, with BNPL options representing 25 percent of all bookings, up from 14 percent the previous year, the findings showed.  

Popular regional destinations for Saudi travelers included Dubai, Doha, Cairo, and Manama. 

For longer-haul travel, Istanbul, London, Paris, and Phuket remained top choices, while newer destinations like Bangkok, Amman, and Milan as well as Moscow, Madrid, and Prague also gained traction. 

Domestically, cities such as Makkah, Jeddah, and Riyadh, as well as Alkhobar, and Madinah dominated, alongside rising interest in Taif, AlUla, and the Red Sea, the report showed. 

Saudi traveler profiles also evolved, with solo travelers representing 53 percent of flight segments, particularly toward long-haul destinations.  

Family trips major driver

Family travel accounted for 16 percent of flight segments but saw a 23 percent increase in the average trip length within the MENA region.  

Families were a major driver behind the 22 percent rise in domestic stays, while solo traveler stays beyond the region grew by 23 percent. 

In the air travel segment, full-service carriers grew in the domestic market by 24 percent year on year, while low-cost carriers saw a 6 percent decline.  

Within the MENA region, both full-service and low-cost carriers experienced growth. For international long-haul travel, low-cost carrier volumes surged by 35 percent amid the launch of new routes, even as full-service carrier volumes fell by 8 percent. 

Booking flexibility became a notable trend, with 24 percent of travelers opting to mix and match airlines for round-trip journeys.  

Accommodation preferences also diversified, with more than 75 percent of room nights booked in 4- and 5-star hotels.  

However, 3-star and below properties saw a 12 percent rise in international bookings, and bookings for serviced apartments and holiday homes increased by 15 percent in the MENA region and 21 percent beyond, reflecting growing demand for value-driven options. 

Alternative accommodations accounted for 8 percent of total room nights, offering an average 37 percent savings per night compared to hotel stays. This shift is particularly evident among international travelers seeking flexibility and affordability.