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The other comments are talking about oil, but because of COVID-19, Hajj and Umrah are not taking place this year. The Hajj and the Umrah add around $12 billion
by TempHNAcc 7y ago
The other comments are talking about oil, but because of COVID-19, Hajj and Umrah are not taking place this year.
The Hajj and the Umrah add around $12 billion per year to KSA's GDP (7% of the GDP).
The closing of the Haramayn (the Mosques of Makkah and Madina) crippled internal tourism which amounts to lots of money.
- JumpCrisscross 7y ago> The Hajj and the Umrah add around $12 billion per year to KSA's GDP Much of that revenue is FX. That increases its value, riyal for riyal, to the fixed-rate currency Kingdom.