Saudi Arabia, the biggest Arab economy, will deliver on all of its announced mega-tourism projects, the head of Saudi Tourism Authority said.
There has been an increased push from Saudi Arabia’s Crown Prince Mohammed bin Salman and the kingdom’s sovereign wealth fund, the Public Investment Fund, to commit to investment in the local economy, chief executive Fahd Hamidaddin told a panel discussion at Arabian Travel Market on Monday.
All of the major projects announced to date have “great feasibilities” and there is no reason why they should not materialise, he said.
Arabian Travel Market latest
“Let me tell you what is different this time. I think this not about tourism. This is not about those projects; this is about the new Saudi Arabia," said Mr Hamidaddin
"Has there been any project that was announced within the past four years that has not materialised or not progressed? We have a new central leadership that tracks KPIs [key performance indicators], progress, deliveries and what is different about these giga-projects versus all what was announced before is that these are committed to by the government.”
Saudi Arabia, Opec’s biggest oil exporter, is radically transforming its economy under its Vision 2030 programme to cut its dependence on oil. Developing the tourism sector and opening it to foreign investment is a key part of the kingdom's economic overhaul agenda.
The PIF is backing a number of projects, including the $500 billion futuristic city Neom, the Red Sea Development Project containing islands off the city's western coast, Qiddiya entertainment city near Riyadh, Diriyah Gate, Al Ula and others.
In January, the fund unveiled a five-year strategy amid plans to double its assets to $1.07 trillion.
It will invest a minimum of $40bn a year into the domestic economy until 2025 and grow assets under management to over $2tn by 2030.
In February, the fund also launched a new venture that will invest $3bn in tourism and infrastructure projects in a mountainous area of the Asir region.
In total, there are more than dozen major tourism projects being built in the kingdom.
Domestic tourism in the kingdom has grown significantly in the past year and is expected to strengthen further this year, Mr Hamidaddin said.
“There was a lot done [last year] but I would say domestic tourism was our greatest success,” he said.
The rise in domestic travel has also helped the kingdom’s flag-carrier Saudia to boost operations, Ibrahim Koshy, chief executive of Saudia Air Transport Company told the panel.
“We have our 28 domestic [airports] that have been operating close to 80 per cent of our 2019 levels and demand exceeded capacity at times,” he said.
The reopening of the country's borders to international tourists on Monday means tourism numbers are set to "pick up even further”, with a rise in both leisure and business travel expected this year, Mr Koshy said.
The airline will be able to handle any additional demand from the recently upgraded King Abdulaziz Airport in Jeddah.
“This [the Jeddah hub] is something which we did not have. It is our new home and it is the growth of [our] connectivity, growth of the kingdom.”
Asked about when the airline will return to profitability, Mr Koshy said he expects this will be achieved by 2024.
He said there was great potential for Saudi Arabia’s aviation market to grow as the country intends to attract 100 million tourists by 2030 and boost overall airport users to 330 million.
“Don’t be too surprised if you see aircraft orders to meet some of that demand and capacity,” he said. “There is a lot of growth and lot of capacity requirement, which we are going to have to factor in.”
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Saturday's schedule at the Abu Dhabi Grand Prix
GP3 race, 12:30pm
Formula 1 final practice, 2pm
Formula 1 qualifying, 5pm
Formula 2 race, 6:40pm
Performance: Sam Smith
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
LAST 16
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Real Madrid, Tottenham, Atalanta, Atletico Madrid, Napoli, Borussia Dortmund, Lyon, Chelsea
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
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EGYPT SQUAD
Goalkeepers: Ahmed El Shennawy, Mohamed El Shennawy, Mohamed Abou-Gabal, Mahmoud Abdel Rehem "Genesh"
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Midfielders: Walid Soliman, Abdallah El Said, Mohamed Elneny, Tarek Hamed, Mahmoud “Trezeguet” Hassan, Amr Warda, Nabil Emad
Forwards: Ahmed Ali, Mohamed Salah, Marwan Mohsen, Ahmed "Kouka" Hassan.
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Match info
Bournemouth 0
Liverpool 4 (Salah 25', 48', 76', Cook 68' OG)
Man of the match: Andrew Robertson (Liverpool)
It
Director: Andres Muschietti
Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor
Three stars
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Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
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Results
Light Flyweight (49kg): Mirzakhmedov Nodirjon (UZB) beat Daniyal Sabit (KAZ) by points 5-0.
Flyweight (52kg): Zoirov Shakhobidin (UZB) beat Amit Panghol (IND) 3-2.
Bantamweight (56kg): Kharkhuu Enkh-Amar (MGL) beat Mirazizbek Mirzahalilov (UZB) 3-2.
Lightweight (60kg): Erdenebat Tsendbaatar (MGL) beat Daniyal Shahbakhsh (IRI) 5-0.
Light Welterweight (64kg): Baatarsukh Chinzorig (MGL) beat Shiva Thapa (IND) 3-2.
Welterweight (69kg): Bobo-Usmon Baturov (UZB) beat Ablaikhan Zhussupov (KAZ) RSC round-1.
Middleweight (75kg): Jafarov Saidjamshid (UZB) beat Abilkhan Amankul (KAZ) 4-1.
Light Heavyweight (81kg): Ruzmetov Dilshodbek (UZB) beat Meysam Gheshlaghi (IRI) 3-2.
Heavyweight (91kg): Sanjeet (IND) beat Vassiliy Levit (KAZ) 4-1.
Super Heavyweight ( 91kg): Jalolov Bakhodir (UZB) beat Kamshibek Kunkabayev (KAZ) 5-0.
Killing of Qassem Suleimani
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Global state-owned investor ranking by size
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Origin
Dan Brown
Doubleday
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
