Morgan Stanley estimates that raising Saudi Arabia's 49% foreign ownership ceiling to 75% would draw about $4.3 billion in passive inflows, and that removing the cap entirely would draw about $7.4 billion. Saudi Arabia is the last major Gulf market keeping a blanket 49% limit.
The difference between $4.3 billion and $7.4 billion represents the cost of fully removing the cap. Most passive funds are released when the ceiling is eliminated, rather than when it is raised to 75%.
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Cash falls, cards rise
Saudi consumer spending reached SAR 144.95 billion in July 2026, up 8% from SAR 134.51 billion in July 2025. Point-of-sale spending was SAR 62.85 billion, up 7%, across 1.096 billion transactions on 2.5 million terminals. E-commerce through Mada cards rose 26% to SAR 37.63 billion across 197.6 million transactions, while cash withdrawals from 14,400 ATMs fell 3% to SAR 44.47 billion. There are 70.12 million issued bank cards.
The change involves switching from one channel to another, which means that if you are running a business aimed at consumers you should shift your investments from cash handling to digital acceptance rather than considering both as part of growth.
SR 180M to keep the machines running
Al-Moammar Information Systems (MIS) was awarded a SR179.8M contract by King Saud Medical City covering maintenance and repair of medical devices and equipment together with IT works and services.
This is recurring revenue in a quarter when project revenue is under pressure. If your business is capex-dependent, the strategic question this award poses is what part of your offering could be sold as an annual service instead.
Saudi carries half of Gulf tourism
Saudi Arabia's travel and tourism sector contributed $178 billion to the economy in 2025, 46% of the entire Middle East's travel and tourism economy, growing 7.4%, nearly double the global rate of 4.1%, with international visitor spending up 8.2% against a 3.2% global rate.
Nearly half of the entire region's tourism economy now lies in Saudi Arabia, growing at twice the global rate, a shift large enough that the map of Middle Eastern travel needs to be redrawn before the guidebooks catch up.
