Digital Research Company (DRC) received a letter of award from the Saudi Tourism Authority on August 28 to provide research and consulting services. This step reflects the Kingdom's commitment to supporting the research and consulting sector and enhancing the role of national companies in developing the tourism and economic landscape.
The value of the framework agreement exceeds 12% of the company's total revenues, according to the audited financial statements for the fiscal year 2024, including value-added tax. This represents a significant addition to revenues and contributes to strengthening the company's presence in the Saudi market.
The agreement comes as part of the Kingdom's efforts to expand the scope of consulting and research across various sectors, reflecting the drive to promote innovation and support local expertise. The agreement includes the provision of specialized research and consulting services related to tourism, in addition to supporting the Authority's future development plans in line with the goals of Saudi Vision 2030 to develop the tourism sector and transform the Kingdom into a global destination for tourism events and services.
Despite this positive step, the company recorded losses in the first half of this year amounting to SAR 3.46 million, compared to profits of SAR 3.19 million in the same period last year. This reflects the challenges it faced during the past months in light of economic changes and operational pressures.
The agreement represents an opportunity to enhance the company's business sustainability and achieve future growth, particularly with a focus on providing innovative research solutions that contribute to supporting tourism policies and promoting national events and programs held by the Kingdom.
This cooperation also reflects the Kingdom's role in encouraging strategic partnerships with the private sector, which enhances the position of national companies and motivates them to develop their services to achieve long-term economic and social benefits.
