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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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Dubai gold market news: Exclusive UAE commemorative coins now available

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A new limited-edition collection of gold and silver commemorative coins has been launched in the UAE, celebrating national unity while supporting community development efforts across Dubai.

The initiative, led by Emirates Minting Factory in collaboration with Dubai Gold District, is inspired by the ‘Proud of UAE’ campaign and is available exclusively within the district. The collection offers collectors and investors a chance to collect a symbolic piece tied to a defining moment in the nation’s recent history.

Beyond its collectable value, the project carries a philanthropic dimension. Proceeds from the sale of the coins will go to Ferjan Dubai, a social enterprise focused on strengthening community life and enhancing social well-being across neighbourhoods.

Officials say the initiative reflects a broader message of unity and resilience. Essa Al Falasi, Chairman of Emirates Minting Factory, described the coins as symbols of “gratitude and solidarity,” noting that the project aims to combine tangible value with meaningful impact. As a UAE-founded company, he added, the factory sought to contribute in a way that resonates with both national pride and social responsibility.

Each coin is crafted with investment-grade 1 oz gold and silver, reflecting the UAE’s heritage through detailed design and high-quality minting. The collection is positioned not only as a commemorative keepsake but also as a long-term asset for collectors.

The launch comes amid a growing trend of purpose-driven luxury products in the region, blending investment appeal with social impact.

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UAE mosques to deliver Friday sermon on national security, loyalty and vigilance

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The General Authority of Islamic Affairs, Endowments and Zakat has announced that the upcoming Friday sermon in the UAE will urge worshippers to uphold national loyalty and report activities that may threaten security, while warning against actions that undermine national unity.

Delivered under the title “Whoever betrays our nation is not one of us”, the sermon will emphasise that honesty and trust are core Islamic values, describing betrayal as a grave sin.

Worshippers, particularly youth, will be urged to remain vigilant and not be misled by narratives. The message will stress unity, adherence to authentic teachings, and respect for the country’s laws and leadership.

It will also highlight the role of security services in safeguarding stability and urge individuals to report suspicious behaviour through official channels, noting that concealing wrongdoing is itself a serious offence.

The sermon will pay tribute to the UAE Armed Forces ahead of their unification anniversary on May 6, and conclude with prayers for the nation’s safety, leadership and continued prosperity.


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AI Is taking over half of UAE government services: What you need to know

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The UAE will transition 50 per cent of its government services, operations and sectors to autonomous artificial intelligence systems within the next two years, under directives issued by President Sheikh Mohamed bin Zayed Al Nahyan.

The major shift was announced on Thursday by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who said the country would move half of its government services to AI-driven systems as part of a new governance model.

Describing the initiative as a next-generation government system, Sheikh Mohammed said the UAE aims to become the first country in the world to adopt ‘agentic AI’ models capable of independently executing tasks, managing processes and supporting decision-making without direct human intervention.

He noted that advanced AI technologies are now able to monitor changes, analyse data, provide recommendations and carry out sequences of actions autonomously, adding that such systems would function as an executive partner to government entities. The move is expected to enhance efficiency, improve service delivery and enable real-time evaluation and optimisation across public sector operations.

Sheikh Mohammed also said that ministers, directors-general and federal entities would be assessed over the next two years based on how effectively they keep pace with the transformation, including the speed at which they adopt AI tools and implement new operational standards.

As part of the initiative, all federal government employees will undergo specialised training in artificial intelligence to build the capabilities required to support what has been described as one of the largest government transformation projects globally.

How AI shift could affect daily life

  • Applications, approvals, and renewals could be processed much quicker.
  • Expect fewer in-person visits and more services handled online.
  • AI systems don’t sleep, some services may become available 24/7.
  • Real-time tracking and instant status updates on requests.
  • Policies and services may improve based on data-driven insights.
  • Basic processes (like renewals or payments) could be fully automated.
  • Problems or delays in services may be identified and fixed sooner.
  • Increased reliance on digital systems may bring stronger data controls, but also higher awareness around privacy.

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