Tag Archives: Issam Abousleiman

Saudi Arabia pledges USD 100 million to proposed World Bank fund to drive Tourism Community Initiative

Saudi Ministry of Tourism, the World Bank, and the World Tourism Organization (UNWTO) signed a Memorandum of Understanding (MoU) outlining their commitment to collaborate on the activation of the Tourism Community Initiative. This collaboration is aimed at building an inclusive and resilient tourism ecosystem that leads to job creation, the development of the private sector, and economic growth through a range of demand-driven investments in line with country needs, development strategies, and global sustainable development objectives. The signing of the MoU took place in Riyadh during the official opening of the first UNWTO regional office outside of the Madrid HQ. His Excellency Ahmed Al Khateeb, Saudi Minister for Tourism, said: “Tourism is a significant force for good, contributing more than 10 percent of global GDP and supporting one in every ten jobs worldwide. Yet, many countries that have not been able to benefit from tourism to build their economies, communities and livelihoods,” “At last year’s G20 meeting we pressed for a global commitment to support communities with high tourism potential in taking advantage of the opportunities that sustainable and inclusive tourism can offer. That commitment was enshrined in UNWTO’s AlUla Framework for Inclusive Community Development Through Tourism. The collaboration and the envisioned global World Bank fund as mentioned in the signed MoU are aligned with that Framework,” he added. “This initiative has support at the highest levels of all three organization and we are committed to working together towards the advancement of the tourism sector globally” said Issam Abousleiman, Regional Director for the Gulf Cooperation Council Countries at the World Bank. “Cross-border, multi-lateral collaboration is essential to rebuilding and enhancing the global tourism sector, especially after the impact that the …

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