Saudi Arabia jumps 10 places in entrepreneurship index as startups make their mark

Saudi Arabia jumps 10 places in entrepreneurship index as startups make their mark

DUBAI: Saudi Arabia has jumped 10 places in a global entrepreneurship index as the Kingdom looks to encourage startups. It reached 7th place overall by the end of last year, according to the Global Entrepreneurship Monitor report 2020/2021, which noted that the Kingdom ranked 41st in 2018, Al Arabiya reported. Saudi Arabia has witnessed significant progress in encouraging new businesses to take flight over the last three years. It has led to a flurry of new startups emerging in recent years, some of which have been featured by Arab News. These include Mine Bags, which allows people to change the the look of items by switching between different brooches and straps, and Vegan Street “” the Jeddah restaurant started by three young Saudis, which was the first Saudi restaurant to be approved by BeVeg, the world's leading vegan certification company. The boss of the Abu Dhabi-based carrier also expects prices to fall as competition forces carriers to cut fares. "I expect the prices of airline tickets to decrease, as all carriers will be eager to return to the market, and the whole sector will want to motivate travelers to return to travel," Varadi said. Regional airlines have axed thousands of