Connect with us

News

Saudi Arabia Showcases Strategic Tourism at IHIF Asia

Published

on

Spread the love

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.

Continue Reading
Advertisement

News

Suqia UAE donates 700,000 water bottles to support workers to beat summer heat

Published

on

Spread the love

Suqia UAE, under the umbrella of Mohammed bin Rashid Al Maktoum Global Initiatives, has contributed 700,000 bottles of cold water to the second edition of the Al Freej Fridge campaign, helping protect workers from the harsh summer heat across Dubai.

The community campaign, launched by Ferjan Dubai in collaboration with the UAE Food Bank, aims to distribute 2 million bottles of water, juices, and frozen treats by August 23. The initiative targets construction workers, delivery drivers, and outdoor staff, supporting their well-being and reducing heat-related risks.

Mohammed Abdulkareem Al Shamsi, Acting Executive Director of Suqia UAE, said the initiative reflects the UAE’s values of compassion and solidarity, and reaffirms Suqia’s commitment to sustainable, community-driven projects, especially in the Year of the Community.

The water is distributed via refrigerated vehicles and fixed fridges at workers’ accommodations. Ibrahim Al Balooshi of MBRGI thanked Suqia for its crucial support, highlighting the importance of government and private sector partnerships in expanding the campaign’s reach.

Ferjan Dubai, the organiser behind the campaign, is a local social enterprise focused on strengthening neighbourhood engagement and civic values through volunteer-driven initiatives.

Continue Reading

News

Sharjah Police: 99.7 per cent of residents feel safe aross Emirate

Published

on

Spread the love

Sharjah has achieved a remarkable milestone in public safety, with 99.7 per cent of residents reporting they feel safe across the emirate, according to the latest 2024 data released by Sharjah Police.

Major General Abdullah Mubarak bin Amer, Commander-in-Chief of Sharjah Police, announced the results, highlighting the community’s growing trust and satisfaction with the emirate’s security efforts. Public confidence in Sharjah Police now stands at 97 per cent

, reflecting strong institutional performance and community engagement.

Key findings from the report:

  • 99.7% feel safe during the day
  • 99.3% feel safe at home at night
  • 99.3% feel safe in public areas at night
  • 98.6% feel safe walking alone at night
  • 98.9% feel safe on the road, whether driving or using public transport
  • 96.7% trust their local police station

Major General bin Amer credited the achievement to the visionary leadership of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, whose support has been instrumental in enhancing the emirate’s safety and quality of life.

He thanked the Executive and Consultative Councils of Sharjah and praised the Department of Statistics and Community Development for its scientific approach in collecting public safety data.

According to Brigadier General Omar Ahmed Boualzoud, Director-General of Criminal Security and Ports, the impressive safety figures reflect the effectiveness of the Sharjah Police’s advanced preventive strategies, which prioritise public well-being at the heart of all operations.

Officials stressed that this success is not just a result of internal policing efforts but also the active cooperation of the public, which continues to play a vital role in maintaining safety and community harmony in Sharjah.

Continue Reading

News

No Golden Visas for crypto Investors, UAE authorities confirm

Published

on

Spread the love

The UAE has officially denied rumours that digital currency investors are eligible for the country’s coveted Golden Visa.

In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA) clarified that cryptocurrency investments do not qualify for Golden Visa residency.

The ICP stressed that Golden Visas are granted under specific, approved criteria, including real estate investors, entrepreneurs, exceptional talents, scientists, top students, frontline workers, and humanitarian pioneers, but not digital asset holders.

The SCA reaffirmed its commitment to globally recognised regulatory standards and investor transparency. It noted that while virtual assets are regulated in the UAE, they are entirely separate from visa eligibility processes.

Meanwhile, VARA urged the public to steer clear of false claims and only engage with licensed and regulated virtual asset service providers. It also clarified that TON, a company mentioned in some of the misleading reports, is not licensed or regulated by VARA.

All three authorities warned against unverified social media posts and websites that spread misinformation. They urged investors and residents to refer only to official UAE government portals for accurate updates.

For official Golden Visa criteria, visit: www.icp.gov.ae

Continue Reading

Popular

Exit mobile version
https://headline.ae/