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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

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    The increased prices of driver’s licenses, number plates set to take effect

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    • Nigeria
    • Africa
    • World
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    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

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    List of Dividends announced in 2024, qualification and payment dates

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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Saudi Arabia offers airlines incentives to link it to the world

Friday, 10 June 2022, 10:50 am
in News, World
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Saudi Arabia offers airlines incentives to link it to the world
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Saudi Arabia has proposed a subsidy for airlines as an incentive to operate unprofitable routes that link it to global cities in a bid to boost arrival of tourist in the Kingdom.

Saudi aims to attract 100 million visitors annually by 2030. In an interview, Tourism Minister Ahmed Al Khateeb said the subsidy is part of its Air Connectivity Program, Bloomberg reported.

“The main purpose is to create direct flights to our main target markets,” the minister said in Jeddah. “The program will compensate airlines to cover their losses from flying direct flights to these very important hubs for us.”

“We have to negotiate with every carrier to size it,” Al Khateeb said,

Saudi Arabia has signed an agreement with the national carrier Saudia, to fly Zurich in Switzerland and Barcelona in Spain as part of the program, according to the report.

Al Khateeb said that the details of the program’s  budget will be available next year.

This is the latest step in Crown Prince Mohammed bin Salman’s strategy to reduce the Kingdom’s dependence on oil and turn Riyadh into a global business center.

Saudi Arabia started offering tourist visa in late 2019. Saudi government plans to invest $147 billion in projects that will turn the Kingdom into a transport and logistics hub. This includes development of a new airport in Riyadh, launching an airline and increasing direct destinations from the Kingdom to 250 from about 100.

This year Saudi Arabia targets 12 million foreign visitors and 4% of the economic output from the tourist sector. This will increase to 10% of economic output by 2030.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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