Saudi tourism sector to create 1 m jobs by 2030, says official

Mayada Badr, CEO of the Culinary Arts Commission, told participants of the hospitality summit that young Saudi nationals were entering the culinary art sector in large numbers. (AN photo)
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Updated 25 May 2022
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Saudi tourism sector to create 1 m jobs by 2030, says official

  • American hospitality giant Hilton plans to grow olive oil locally in the Kingdom

RIYADH: Saudi Arabia’s tourism sector will create 1 million jobs by 2030 and the Kingdom will welcome 100 million visitors, said Qusai Al-Fakhri, CEO of the Saudi Tourism Development Fund.

The sector will create one of every three new jobs in Saudi Arabia in the next decade, as the nation focuses more on the growth of non-oil sectors, said Al-Fakhri.
Talking about the progress of the Saudi tourism sector at the Future Hospitality Summit in Riyadh, he said: “Last year, with the support of the tourism ecosystem, and the larger government ecosystem and enablers, Saudi Arabia achieved record levels of domestic tourism that is remarkable globally.”
Al-Fakhri also noted that the tourism sector is expected to contribute 10 percent to the Kingdom’s gross domestic product by the end of this decade.
The two-day event held under the theme “Reimagined Horizons” seeks to discuss the future of hotel development, destination impact, aviation, sustainability, restaurant investment and human capital.




Last year, with the support of the tourism
ecosystem, and the larger government
ecosystem and enablers, KSA achieved
record levels of domestic tourism, says Qusai Al-Fakhri, Saudi Tourism Development Fund, CEO

It is featuring a series of sessions covering topics such as the future of hotel asset management, the future of loyalty schemes, transparency and brand loyalty.

Unique food heritage

Mayada Badr, CEO of the Culinary Arts Commission, said Saudi Arabia has its own unique food heritage and there is no necessity to copy from other regions.
“We want to do a lot more in Saudi cuisine. We have our own heritage and we don’t want to copy it. We are using what we have,” she said at the summit.
She said young Saudi nationals are entering the culinary art sector in large numbers.
According to Badr, international brands have made their presence felt in the Saudi market along with local brands, which is ultimately resulting in healthy competition in the food and beverage industry.
Talking about the impact of Vision 2030 on the food and beverage sector, she added: “With Vision 2030, we Saudis decided to share more than ever. You go to those tiny towns and you feel welcomed. They share food and you get exposed to all sorts of traditional food.”

Government efforts

The efforts of the Saudi Tourism Ministry are a catalyst for the massive transformation of the hospitality sector in the Kingdom, said Sultan Bader Al-Otaibi.
the CEO of Dur Hospitality said Saudi Arabia’s tourism and hospitality sector is witnessing a massive transformation and lauded the Tourism Ministry’s efforts in this regard.

HIGHLIGHTS

• The sector will create one of every three new jobs in Saudi Arabia in the next decade, says CEO of the Saudi Tourism Development Fund.

• The tourism sector is expected to contribute 10 percent to the Kingdom’s gross domestic product by the end of this decade.

He also said events like Future Hospitality Summit are very productive gatherings that help in learning and growing together. 

More investment

American hospitality giant Hilton plans to grow olive oil locally in Saudi Arabia, as the hotel chain is encouraged by Saudi Arabia’s efforts to push for local sourcing as part of its strategy to develop non-oil sectors including tourism, a senior executive at the company revealed at the summit.
Emma Banks, vice president, F&B Strategy and Development EMEA, at Hilton also disclosed that the company has signed a deal with Nadec, one of the largest agricultural and food-processing companies in the Middle East, to purchase 200 tons of tomatoes.
She also affirmed Hilton’s commitment to protecting the community in which it operates.
Banks revealed that Hilton has been working hard to reduce carbon emissions by implementing strategic measures in its operations.


US pump prices surge as Iran war upends global energy supply

Updated 07 March 2026
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US pump prices surge as Iran war upends global energy supply

  • Fuel prices jump over 10 percent as oil prices surge
  • Analysts predict further price rises due to market conditions

MARIETTA/NEW YORK : US retail gasoline and diesel prices are soaring as the US-Israel war with Iran constrains oil and fuel exports, which could be a political test for President Donald Trump’s Republican Party ahead of midterm ​elections in November.
Fuel prices jumped more than 10 percent this week as oil rose above $90 a barrel, its highest in years, adding pain at the pump for consumers already strained by inflation.
Trump on Thursday shrugged off higher gasoline prices in an interview with Reuters, saying “if they rise, they rise.”
The president had vowed to lower energy prices and unleash US oil and gas drilling during his second term, but much of his tenure has been marked by volatility and uncertainty amid shifts in policies like tariffs and geopolitical turmoil.
The US is the world’s largest oil producer. It is a major exporter but also imports millions of barrels a day since it is the world’s largest oil consumer.
As of Friday, the national average prices for regular gasoline stood at $3.32 a gallon, up 11 percent from a ‌week ago and ‌the highest since September 2024, according to data from the motorists association AAA. Diesel was at $4.33, ​up ‌15 percent ⁠from a week ​ago, ⁠surging to the highest since November 2023.

Midwest, south feel the pinch
US motorists in parts of the Midwest and the South, including states that supported Trump, have seen some of the steepest increases in fuel costs since the conflict in Iran started.
In Georgia, a swing state, average retail gasoline prices rose 40.1 cents a gallon over the past week, according to fuel tracking site GasBuddy.
Andrenna McDaniel, a health care insurance worker in South Fulton, Georgia, said she was surprised to see prices skyrocket overnight.
“They jumped up so quickly,” she said on Friday, adding that she does not agree with the war at all.
McDaniel, a Democrat, said that for now she is only driving for the most important things, ⁠and feels lucky that she works from home so she does not have to drive as ‌much as other people do. Georgia voted for Donald Trump in the 2024 election.
Trump voter ‌Richard Soule, 69, a US Air Force veteran and a retired firefighter, said ​a little pain at the pump is worth Trump’s efforts to ‌protect America.
“When President Trump went in there and bombed out their nuclear, and they just thumbed their nose at it, ‌I believe he did the right thing at the right time,” Soule said on Friday as he filled up his Ford F-150 truck in Marietta, Georgia.
Other states, including Indiana and West Virginia have seen prices rise by 44.3 cents and 43.9 cents, respectively.

Prices may rise further
More pain may be on the way, analysts said, as oil prices continue to trend upward. On Friday, US oil futures settled at $90.90 a barrel, up nearly $10 and ‌the biggest single-day rise since April 2020.
“Given current market conditions, the national average price of gasoline could climb toward $3.50 to $3.70 per gallon in the coming days if oil continues rising and supply ⁠disruptions persist,” GasBuddy analyst Patrick De ⁠Haan said.
The disruptions in the Middle East and the Strait of Hormuz, a key trade conduit, have boosted demand for US oil abroad, which in turn has driven up prices for domestic refiners too.
“The US has weaned itself off of its dependence on Middle Eastern crude, but obviously Asian refineries, and to a lesser extent, European refineries have not,” Denton Cinquegrana, chief oil analyst with OPIS. “That’s what you’re seeing happen in the spot market, because the demand for US exports rise, and so the price rise.”
Seasonal factors could add further pressure. Gasoline prices typically go up in the spring and peak in the summer due to higher gasoline demand and production of summer-blend gasoline, which is more costly to produce. Diesel fuel saw an even more aggressive jump since Iran began retaliating against US and Israeli strikes, significantly disrupting shipping in the Strait of Hormuz.
Global diesel inventories have remained in tight supply due to heavy demand for heating and power generation during a prolonged winter in the US and other parts of the world and a structural tightness of refining ​capacity. Sticker prices of everything from food to furniture go up ​when the cost of diesel goes up, as the fuel is mainly used in freight transportation, manufacturing, agriculture, and global shipping, analysts said.
“In a world where buzzword seems to be ‘affordability’, that is certainly not going to help,” Cinquegrana said.