Tag Archives: investment

Saudi Arabia hosted the inaugural edition of TOURISE bringing together over 50 tourism ministers, private investors, and NGOs from around the world. The event aims to create a platform where governments, private businesses, and organisations can collaborate on the future of global tourism. Saudi Minister of Tourism HE Ahmed Al Khateeb said the idea for TOURISE came from the need for a venue where regulators and investors can meet, plan, and build together. “The public sector regulates the industry, and the private sector invests and operates. We found no place where both could collaborate effectively and that’s why TOURISE was created,” he said He highlighted that tourism is more than travel, it includes airlines, airports, accommodations, mobility, food and beverage, and technology supporting the sector. “We found a gap,” he said, “a place where the public and private sectors can meet, invest, and innovate together. The conference comes as the tourism industry faces a projected global job gap of 40 million by 2034, with 357 million people currently employed worldwide. Saudi Arabia alone plans over $200 billion in tourism investments over the next five years, developing destinations like Neom, Red Sea, Iddiya, Dera’iya, and Jeddah. Speaking about technology and AI, he emphasised that while AI can digitalise services, human-to-human interactions remain essential. Al Khateeb stressed the sector’s potential for creating jobs for women and youth, particularly in smaller nations, cities, countries and islands. He encouraged private sector leaders to propose solutions for sustainable growth and employment.

The value of MENA’s hospitality market is set to grow from US$310 billion in 2025 to more than US$487 billion by 2032, according to data released ahead of the Future Hospitality Summit – FHS World, Madinat Jumeirah Dubai, 27-29 October. The travel and tourism sector is projected to contribute US$367 billion to the Middle East economy and support 7.7 million jobs this year, says the World Travel and Tourism Council. International visitor spending is expected to reach nearly US$194 billion, up nearly a quarter from 2019, pre-pandemic levels, with domestic spending forecast to hit US$113 billion. As of Q2 2025, the Middle East’s hotel construction pipeline reached an all-time high of 650 projects with 161,574 rooms. At the end of June, 337 projects, with almost 86,500 rooms, were under construction, with 147 projects due to start by Q2 2026. Saudi Arabia tops the Middle Eastern hotel construction chart, with more than 92,000 rooms across 342 projects. Next is Egypt with 127 projects and a record-high room count of over 28,000, followed by the UAE with 100 projects (25,470 rooms); Oman with 27 projects (4,709 keys) and Qatar with 16 projects (nearly 3,500 rooms). The unprecedented hospitality, tourism and infrastructure expansion reinforces the region’s position as a global magnet for investment, say experts. Amr El Nady, Head of Hotels & Hospitality MEA and Managing Director, Global Hotel Desk at Jones Lang Lasalle, said: “Saudi Arabia is targeting 150 million tourist arrivals annually by 2030, while Egypt aims for 30 million international visitors by 2028. Both nations are seeking to significantly increase tourism’s contribution to their GDP, with KSA targeting 10% and Egypt 15%. This strategic focus is driving substantial hospitality investment, …