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Saudi Arabia’s Economic Growth: A Non-Oil Driven Success

by News Editor

May 2, 2025

In the first quarter, Saudi Arabia’s economy experienced a notable upswing, propelled by strong activity in the non-oil sector. As the kingdom continues its strategic pivot away from hydrocarbons, the real Gross Domestic Product (GDP) grew by 2.7% year-on-year, according to flash estimates from the government’s statistical authority.

Increased Demand for Data-Driven Insights

The statistical authority responded to mounting local demand for detailed data by expanding its data collection efforts and updating the nominal and real GDP series. Fahad al Dossari, President of GASTAT, highlighted the hunger for comprehensive statistics among stakeholders.

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Non-Oil and Government Activities Drive Growth

With the weighting of the non-oil sector increased to align with international standards, non-oil activities surged by 4.2% in the first quarter, while government activities grew by 3.2%. Monica Malik, chief economist at Abu Dhabi Commercial Bank, noted the contribution of government activity, spurred by a supported oil price, although cautioning about a potential pullback in government spending in the subsequent quarters.

Challenges and Outlook

Despite the promising start, oil-related activities fell by 1.4%, underlining the challenges of diversifying away from oil. As part of Vision 2030, Saudi Arabia requires substantial investment to bolster the private sector and expand its non-oil economy. A Reuters poll suggests that Brent crude will average $68.99 a barrel in 2025, a decrease from earlier forecasts, placing pressure on Saudi fiscal plans, which rely on higher oil prices to balance the budget.

The Future Forbes Realty Global Properties

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

by THEFUTURE.TEAM

August 15, 2025

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

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Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.