Saudi Arabia Travel Advice

This page is designed to give you information and advice on Saudi Arabia. It includes general information, visa requirements, Saudi Arabia health insurance information and various other resources.

For a quote on your Saudi Arabia health insurance plan, please contact our advisors.

Saudi Arabia
The Kingdom of Saudi Arabia is the largest country on the Arabian Peninsula. It borders Jordan on the north, Iraq on the north and north-east, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the south and south-east, and Yemen on the south, with the Persian Gulf to its north-east and the Red Sea to its west.

It is called "the land of the two holy mosques", a reference to Mecca and Medina, Islam's two holiest places.

Saudi Arabian Economy
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. The region is known to be in possession of 260.1 billion barrels of oil reserves as of 2003, about 24% of the world's proven total petroleum reserves. It ranks as the largest exporter of petroleum and plays a leading role in OPEC. Moreover, the proven reserves increase gradually as more oil fields are discovered, unlike most other oil-producing countries.

The petroleum sector accounts for roughly 75% of budget revenues, 40% of the GDP, and 90% of export earnings. About 35% of the GDP comes from the private sector. Saudi Arabia was a key player in the successful efforts of OPEC and other oil producing countries to raise the price of oil in 1999 to its highest level since the Gulf War by reducing production.

Saudi Arabia announced plans to begin privatizing the electricity companies in 1999, which followed the ongoing privatization of the telecommunications company. The government is expected to continue calling for private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. There has also been a marked increase in the Saudi Arabia health insurance industry due to the increasing number of expatriates living in the region. Shortages of water and rapid population growth may constrain government efforts to increase self-sufficiency in agricultural products.

In recent years, Saudi Arabia has experienced a significant contraction of oil revenues combined with a high rate of population growth. Per capita income has fallen from $25,000 in 1980 to $8,000 in 2003, up from about $7,000 in 1999. The decline in inflation-adjusted per-capita income from 1980 to 1999 set a record, being by far the worst such decline suffered by any nation-state in history. Recently, with higher oil prices, however, Saudi Arabia's oil revenues have increased dramatically. Saudi Arabia's budget surplus has crossed $28 billion (SR110 billion) in 2005.

The Tadawul (The Saudi stock market Index) (TASI) finished 2004 with a massive 76.23 percent to close at 4437.58 points. Market capitalization was up 110.14 percent from a year earlier to stand at $157.3 billion (SR589.93 billion), which makes it the biggest stock market in the Middle East.‏

Working Life
For expats working in Saudi Arabia, making the move is probably the most difficult stage. Arriving in a new, unknown country can be daunting, but Saudi Arabia now has an established expatriate community that is continuing to grow.

Due to the increased number of expats living and working in the Kingdom, many expatriate related services are now available. This includes western style housing complexes, restaurants and bars, and financial services including Saudi Arabia health insurance. With health insurance becoming mandatory in January 2006 this is an area that is sure to boom; 8 foreign insurance companies have already applied for licenses to sell Saudi Arabia health insurance to individuals and groups whether they are expatriates or local Saudi Arabians.

For more information or a quote on health insurance in Saudi Arabia please contact our global medical consultants. We can help to solve your problems and also have great experience of working with both individual and company health plans.