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Saudi Arabia Showcases Strategic Tourism at IHIF Asia

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Saudi Arabia is rapidly establishing itself as a global leader in tourism, with the Kingdom’s remarkable achievements in 2023 setting a new benchmark for the industry. This progress was on full display at the IHIF Asia International Hospitality Investment Forum in Hong Kong, where the Saudi Ministry of Tourism highlighted the vast potential for international investors to capitalize on the Kingdom’s rapidly expanding and diverse tourism sector.

Saudi Arabia’s strategic location at the crossroads of three continents and its strong economic ties with Asia underscore its potential as a global tourism hub. In 2023, the Kingdom welcomed over 20.9 million tourists from Asia, who collectively spent $25.7 billion. This significant influx highlights the increasing confidence Asian markets have in Saudi Arabia’s tourism potential and the lucrative opportunities it presents for investors. The Kingdom’s appeal to Asian travelers is further evidenced by the substantial growth in tourism receipts, reflecting the strong demand for Saudi Arabia as a diverse and culturally rich destination.

To capitalize on this momentum, the Kingdom has introduced the Tourism Investment Enablers Program (TIEP), with the Hospitality Investment Enablers (HIE) initiative serving as a cornerstone. HIE is designed to significantly boost accommodation capacity in key tourism areas, driving private investments up to $ 11 billion and increasing the annual GDP by $4.3 billion by 2030. The initiative also aims to create 120,000 new jobs, supporting Saudi Arabia’s broader economic diversification goals. Key incentives include corporate tax exemptions, VAT reductions, and access to government-owned land under favorable terms, making it easier and more cost-effective for investors to enter the market.

A highlight of Saudi Arabia’s participation at IHIF Asia was the panel discussion titled “Invest, Enable, Prosper: Empowering Tourism Destinations.” This fireside chat, led by Mr. Tareq Al-Shaghrood, General Manager of Investment Planning & Attraction at the Saudi Ministry of Tourism, explored the Kingdom’s strategic approach to developing a world-class, diverse tourism ecosystem. “Saudi Arabia’s commitment to creating a wide array of tourism experiences—from cultural heritage and adventure tourism to luxury and eco-tourism—is underpinned by a robust framework of incentives and support for investors. Our vision is to enable and empower those who join us in this transformative journey, ensuring prosperity for all stakeholders,” Al-Shaghrood stated.

Saudi Arabia’s international tourism performance in 2023 was impressive, ranking 14th globally in international arrivals—an improvement of 11 positions since 2019. The Kingdom also ranked 12th globally in international tourism receipts, moving up 15 positions compared to 2019. According to the UN Tourism Barometer (May 2024), Saudi Arabia ranked first among the best-performing large tourism destinations in terms of the growth rate of international arrivals and tourism receipts compared to pre-pandemic levels.

As Saudi Arabia continues its ascent as a leading tourism destination, the Kingdom invites investors worldwide to seize the opportunity to be part of this extraordinary transformation. With its robust infrastructure, strategic location, and unwavering commitment to sustainable growth, Saudi Arabia offers unmatched prospects for those looking to invest in a rapidly evolving and highly rewarding market.

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KHDA and Parkin team up to make school parking faster and more affordable

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Parking around schools in Dubai could soon become far less stressful after the Knowledge and Human Development Authority (KHDA) signed a major new partnership with Parkin Company PJSC to simplify parking subscriptions across the emirate.

The new collaboration introduces a digitally integrated system designed to make parking applications faster, smoother, and more convenient for students, teachers, and educational staff.

Goodbye paperwork, hello instant verification

Until now, applicants had to rely on:

  • Manual approvals from schools
  • Document submissions
  • Eligibility checks handled separately

Under the new system, KHDA and Parkin will integrate their platforms to allow real-time eligibility verification, dramatically reducing administrative steps while maintaining strict data privacy standards.

Parking discounts of up to 80%

The initiative also includes heavily discounted parking packages for educational institutions and students:

  • Dh100 per month
  • Dh1,000 annually

According to Parkin, this represents savings of up to 80% compared to standard parking subscriptions.

Support beyond just parking

The company said the partnership also strengthens support around schools during:

  • Peak pick-up and drop-off times
  • School events
  • High-traffic periods

For parents, teachers, and students navigating Dubai’s busy school zones, the latest move could mean one thing: less paperwork, smoother parking, and fewer daily headaches.

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Business

New UAE wage law explained: What workers and employers need to know

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The Ministry of Human Resources and Emiratisation has unveiled strict new rules requiring private sector companies to pay employee salaries on the first day of every month starting June 1, 2026.

The move, introduced under Ministerial Resolution No. 340 of 2026, is part of a wider push to strengthen wage protection and improve labour compliance across the UAE.

Salaries must be paid on time

Under the new regulation:

  • Salaries for the previous month must be transferred through the approved Wage Protection System (WPS) or another authorised payment platform.
  • Any payment made after the due date will officially be considered delayed.

The ministry also stated that companies must provide proof and documentation confirming salary transfers.

What happens if companies delay salaries?

Authorities outlined escalating penalties that become more severe the longer salaries remain unpaid.

From Day 2:

  • Companies enter electronic monitoring
  • Warning notices are issued

From Day 5:

  • Suspension of new work permits may begin
  • Employers are formally notified to clear the unpaid wages

From Day 11:

  • Administrative fines apply for repeat violations
  • Companies may be downgraded to the third business classification category

From Day 16:

  • Labour disputes may be automatically registered for workers
  • More permit restrictions could follow, especially for larger companies and sectors such as:
    • Construction
    • Transport
    • Cleaning
    • Security
    • Recruitment services

From Day 21:

For companies employing 50 or more workers, repeated violations could lead to:

  • Referral to public prosecutors
  • Asset seizure orders
  • Travel bans on company officials

When is a company still considered compliant?

The ministry clarified that businesses remain compliant if they transfer:

  • At least 85% of total wages are on time

Employees also won’t be classified as unpaid if missing amounts are linked to legally documented deductions.

Some sectors exempt

The decision excludes:

  • Short-term permits under three months
  • Fishing boats
  • Citizen-owned taxis
  • Banks
  • Places of worship

The UAE has long pushed for stronger worker protections, but this marks one of the toughest enforcement frameworks yet for salary delays.

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UAE announces Eid holidays for private sector

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Residents across the UAE are preparing for an extended holiday after authorities officially announced the Eid Al Adha break for both private and public sector employees.

The Ministry of Human Resources and Emiratisation confirmed that private sector workers will receive a four-day paid holiday starting Tuesday, May 26, through Friday, May 29. Normal work will resume on Monday, June 1. A five-day paid holiday was announced earlier for public sector employees.

Moon sighting officially confirmed

The holiday announcement follows the UAE’s official confirmation of the Dhu Al Hijjah crescent moon sighting on Sunday evening.

Authorities said the sighting was verified through specialised committees and observatories using advanced astronomy technology, officially declaring Monday, May 18, as the first day of Dhu Al Hijjah 1447 AH.

As a result:

  • Day of Arafah will fall on May 26
  • Eid Al Adha will begin on May 27

Schools could enjoy up to 10 days off

There’s more good news for families.

The Ministry of Education confirmed that schools will close from May 25 to May 29 for the third-term midterm break, with classes resuming on June 1.

Private schools in Dubai will follow the same calendar, while some schools in Sharjah could see breaks stretching up to 10 days, including weekends.

Travel rush expected

With long weekends lining up for offices and students alike, travel demand is expected to surge as residents begin planning holidays, family gatherings, and Eid celebrations.

For many across the UAE, the countdown to one of the year’s biggest holidays has officially begun.

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