Strategy Note /
Saudi Arabia

Saudi revisited: Pilgrims back for Hajj, might investors return too?

  • Pilgrims back in Saudi to perform Hajj, a reminder of religious tourism sector's potential. Might investors revisit too?

  • Saudi PE back to 5-year average, sovereign finances stabilised, corporate and consumer confidence high, US detente

  • But reliance on oil revenue, youth unemployment, low productivity remain; so, top-down, still mainly a play on oil price

Saudi revisited: Pilgrims back for Hajj, might investors return too?
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
8 July 2022
Published byTellimer Research

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