SAUDI-MINISTRY-TOURISM
The Saudi Ministry of Tourism is participating in the 46th Annual NYU International Hospitality Investment Conference, highlighting the Kingdom's exceptional progress and vast investment opportunities within its booming tourism sector. This conference presents a unique platform for Saudi Arabia to share its transformative journey towards becoming a premier global tourism destination while diversifying its economy.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240606244256/en/
Saudi Ministry of Tourism Deputy Minister for Tourism Destination Enablement Mahmoud Abdulhadi Speaking at the "Invest Saudi & Prosper in Tourism" Networking Lunch (Photo: AETOSWire)
At the forefront of the conference, Mahmoud Abdulhadi, Deputy Minister of Tourism Destination Enablement, delivered a keynote speech to the attendees. He discussed the abundant opportunities in Saudi Arabia, providing insights on investing in tourism to develop new destinations. Mahmoud emphasized how international investors can benefit from the opportunities created, underlining the Kingdom’s commitment to becoming a leading global tourism destination.
Complementing the keynote, the "Invest Saudi & Prosper in Tourism" Networking Lunch, hosted by the Ministry of Tourism, offered a deep dive into Saudi Arabia's investment potential under Vision 2030. The event featured speakers from the Saudi Ministry of Tourism and Ministry of Investment, focusing on the transformation and development in the market, sector performance, and investment opportunities. The government’s support for investors through the Tourism Investment Enablers Program (TIEP), which focuses on enhancing the ease and cost of doing business in the tourism sector, provides incentives, and opens up this untapped market, was also discussed in detail.
The TIEP is designed to lower investment barriers, reduce government fees by 22%, and offer significant incentives. The program includes the flagship Hospitality Investment Enablers (HIE) initiative, which aims to generate USD 11.2 billion in private-sector investments and create 120,000 jobs in identified tourism destinations with high potential. These initiatives make Saudi Arabia an attractive and lucrative destination for investors.
Mahmoud Abdulhadi, Deputy Minister of Tourism Destination Enablement, said, "Saudi Arabia stands at the threshold of an unprecedented transformation in its tourism sector, offering unparalleled opportunities for investors. Our commitment to Vision 2030 is not just a blueprint for development; it's an open invitation for global partners to be part of a historic journey. By investing in Saudi Arabia, you are investing in a future where innovation, culture, and hospitality converge to create extraordinary experiences. The Tourism Investment Enablers Program and the Hospitality Investment Enablers initiative are designed to provide you with the support, incentives, and reduced barriers needed to succeed in this thriving market. Together, we can build a world-class tourism destination that benefits not only our economy but also the global community."
As part of the Ministry of Tourism’s participation at the event, Gloria Guevara Manzo, Chief Special Advisor at the Ministry of Tourism, Saudi Arabia, took part in a fireside chat titled "The Travel and Tourism Trends Driving the Market." The session examined the trends that hospitality investors and other stakeholders need to consider to drive their strategies, providing valuable insights into the evolving landscape of global tourism.
This discussion underscored Saudi Arabia’s significant strides in its tourism sector, notably attracting 100 million international visitors in 2023, seven years ahead of schedule. This success sets the stage for the Kingdom’s new target of 150 million tourists, reflecting its growing global appeal.
Further highlighting its success, Saudi Arabia rose nine places to 41st in the World Economic Forum's Travel & Tourism Development Index 2024, demonstrating the impact of its strategic investments and robust regulatory framework. Recognized as one of the safest countries to visit in the Middle East, the Kingdom’s appeal to international investors continues to grow.
With an investment of USD 800 billion into its tourism sector, Saudi Arabia is creating 1.6 million job opportunities and adding 500,000 hotel rooms. These investments are driving the Kingdom’s economic and social transformation, focusing on developing cultural sites, sports venues, theme parks, and nature reserves. Additionally, the Ministry of Tourism’s efforts to simplify the e-visa process for 66 countries further boost tourism inflows and investment opportunities, making the Kingdom more accessible to international visitors.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240606244256/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Equiduct Expands into the Swiss Market15.5.2025 08:00:00 CEST | Press release
Equiduct, the leading pan-European retail-focused exchange, today announced the launch of its Swiss equity segment, providing retail brokers using Apex with access to 138 of the most liquid Swiss-listed stocks — all priced in Swiss francs (CHF). The newly available securities include heavily traded household names such as Nestlé S.A., Novartis AG, UBS Group AG, and ABB Ltd. Liquidity on the Swiss segment of Equiduct is supported by Apex market makers Virtu Financial, Hudson River Trading, and Optiver. As with all executions on Equiduct, trades on the Swiss segment will benefit from fully interoperable clearing via Equiduct’s pan-European network of CCPs: LCH Ltd, Cboe Clear, and the local Swiss CCP SIX x-clear. This expansion follows formal approval from the Swiss Financial Market Supervisory Authority (FINMA), which recognises Börse Berlin and Equiduct as a regulated market under Article 41 of FinfraG. This status also paves the way for Swiss banks and brokers to join Equiduct as dire
Allianz Reports Record Operating Profit and Is Fully on Track to Achieve Full-Year Outlook15.5.2025 07:26:00 CEST | Press release
May 15, 2025 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250514121549/en/ Oliver Bäte, Chief Executive Officer of Allianz SE (Photo: Allianz SE) 1Q 2025 Total business volume advances 11.71 percent to 54.0 billion euros reflecting sustained momentum across all segments Operating profit increases 6.3 percent to 4.2 billion euros, reaching 26 percent of our full-year outlook midpoint Shareholders’ core net income is stable at a very good level of 2.6 billion euros. Adjusted for a one-off tax provision related to the forthcoming sale of our stake in our Indian Joint Ventures, shareholders’ core net income is up 5 percent Core earnings per share grow 2.9 percent and reach 6.61 euros. Adjusted for the above-mentioned one-off tax provision, core earnings per share are up 7 percent Annualized core RoE is robust at 16.6 percent, or 17.2 percent adjusted for the effect of the one-off tax provision Solvency II capitalization ratio
Corona Global Named Most Valuable Beer Brand in Kantar BrandZ Rankings for Second Consecutive Year15.5.2025 06:01:00 CEST | Press release
Michelob ULTRA Moves Into Top 5 Most Valuable Beer Brands GloballyAB InBev Brands Represent 8 of the Top 10 Most Valuable Beer Brands Globally Corona has been recognized as the most valuable beer brand in the world for the second consecutive year in Kantar's BrandZ 2025 Most Valuable Global Brands report, released today. Eight out of the 10 most valuable global beer brands belong to AB InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD), according to the report ranking the top brands in the world. In 2024 AB InBev produced all-time high revenue and 15% Underlying EPS growth. The year marked double-digit growth for Corona outside of its home market of Mexico and triple-digit growth of its no-alcohol brand Corona Cero. Corona Cero is the first beer brand to sponsor the Olympic Games making its debut in Paris 2024. In 2025, Corona is celebrating its 100-year anniversary with events all over the world through its “Corona 100” platform. Corona is followed by Budweiser, the second most valuab
Forrester Opens Nominations For Its 2025 B2B Awards In EMEA And APAC15.5.2025 06:00:00 CEST | Press release
Awards honor B2B organizations that drive revenue growth through effective alignment of marketing, sales, and product strategies Forrester (Nasdaq: FORR) today opened calls for nominations for its 2025 B2B Return On Integration Honors and B2B Programs Of The Year Awards in Asia Pacific (APAC) and Europe, Middle East, and Africa (EMEA). These awards will recognize B2B organizations based in both regions for achieving functional excellence and outstanding alignment across marketing, sales, and product — the B2B revenue engine — to improve customer experience and drive growth. Nominations for both award categories are open to organizations of all sizes in each region. B2B leaders across APAC and EMEA — including chief marketing officers, chief sales officers, chief product officers, and other marketing, sales, and product leaders — are invited and encouraged to apply. To be eligible, programs need to be developed by leaders and teams based in the APAC or EMEA regions. The nomination crite
Microba Announces Landmark GI Study Results From Over 4,600 Patients15.5.2025 04:12:00 CEST | Press release
Results at a glance:71.4% of MetaXplore™ reports from 4,616 patients identified actionable results41.9% tested positive for abnormal microbiome markers linked to gastrointestinal health9.9% tested positive for gastrointestinal markers, including inflammation, pancreatic insufficiency, or blood in stool19.6% of reports tested positive for multiple markers (microbiome and gastrointestinal)65% of patients reported health improvements following clinician-directed recommendations informed by MetaXplore Microba Life Sciences Limited (ASX: MAP) (“Microba” or the “Company”), a precision microbiome company, today announces preliminary results from the analysis of over 4,600 MetaXplore™ GI Plus test results, a comprehensive test for the assessment and management of lower gastrointestinal disorders, spanning symptoms including chronic pain, bloating, constipation, or diarrhea. This study demonstrates that MetaXplore can support clinicians to identify and address underlying gut issues that often g
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom