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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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Emirates recruits UAE students to turn retired aircraft into new products

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Emirates Engineering has launched a new programme giving UAE university students the chance to transform retired aircraft materials into innovative products while gaining hands-on experience with the airline’s engineering teams.

Called Material Futures Studio, the six-week initiative is led by Emirates Engineering’s Upcycling department. It aims to inspire the next generation of aviation engineers by challenging students to find creative new uses for materials recovered from retired aircraft.

The first edition brings together 23 students from Khalifa University, Emirates Aviation University and the University of Sharjah.

Students began the programme with an orientation session and a behind-the-scenes tour of Emirates Engineering’s facilities in Dubai, where they met senior leaders, explored aircraft maintenance operations and visited the airline’s upcycling workshop to see how retired aircraft materials are already being turned into new products.

How the programme works

Over six weeks, participants will develop concepts and prototypes using materials recovered from retired aircraft, with guidance from Emirates Engineering specialists throughout the design and development process.

The programme will conclude with a showcase where students present their final ideas and prototypes.

According to Emirates, the initiative is designed to bridge the gap between academia and industry by giving students practical engineering experience while enabling the airline to tap into fresh ideas and emerging talent.

Part of Emirates’ sustainability efforts

Material Futures Studio builds on Emirates’ wider sustainability strategy and its multi-billion-dollar aircraft retrofit programme.

The airline is currently refurbishing 219 Airbus A380 and Boeing 777 aircraft, one of the largest retrofit projects in the aviation industry. Rather than discarding materials removed during the upgrades, Emirates Engineering has been repurposing them into new products through its in-house upcycling projects.

These include the Aircrafted by Emirates collection of limited-edition luggage, bags and accessories made from reclaimed aircraft materials, as well as Aircrafted KIDS, which transforms retired aircraft fabrics into backpacks for children. Emirates says more than 4,000 backpacks have already been donated to children in 11 countries.

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New Dh3 electric bus service launches in JLT this week

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Getting around Jumeirah Lakes Towers (JLT) is about to become much easier. A new fully electric bus service, JLT Link, launches on August 1, offering residents and visitors a convenient way to travel across the neighbourhood for just Dh3 per ride.

Replacing the existing bus service, the new network is designed to make short trips around JLT quicker, cheaper and more sustainable.

How does JLT Link work?

The service operates a fleet of turquoise electric buses across two circular routes:

  • Route 1: Clusters A to N
  • Route 2: Clusters O to Z

There’s no need to book. Simply head to the nearest bus stop, scan the QR code to pay and hop on.

Metro connections and 18 stops

JLT Link connects directly with both DMCC Metro Station and Sobha Realty Metro Station, making it easier to continue your journey across Dubai.

The network serves 18 stops across JLT and Uptown Dubai, with buses arriving every 20 minutes.

Sustainable and accessible

The fully electric buses are part of DMCC’s wider sustainability strategy and feature:

  • Low-floor boarding
  • Wheelchair accessibility
  • Space for standing passengers

The launch complements other sustainability initiatives across JLT, including solar-powered infrastructure, Dubai Can refill stations and community recycling facilities.

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UAE fuel prices: Will petrol get cheaper in August? Here’s what to expect

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UAE motorists could see petrol prices fall for a second consecutive month in August, although any reduction is expected to be modest as global oil markets remain volatile.

Experts are predicting lower crude oil prices during July will support another cut at the pump, but the ongoing geopolitical tensions and tight fuel inventories are likely to limit how much prices fall.

Based on current trends, experts estimate Special 95 could fall to around Dh3.13 per litre, while Super 98 could drop to about Dh3.24 per litre.

Oil markets continue to react to geopolitical developments, particularly tensions involving Iran and concerns over shipping routes in the Gulf.

However, prices are capable of moving up sharply if regional tensions escalate.

July fuel prices

  • Super 98: Dh3.40 per litre
  • Special 95: Dh3.29 per litre
  • E-Plus 91: Dh3.21 per litre
  • Diesel: Dh3.60 per litre

The UAE is expected to announce fuel prices for August this week, with many motorists hoping for another reduction to help ease the rising cost of living and daily commuting expenses.

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