Saudi Arabia to witness ‘a golden era of hospitality’ in next 10 years: Knight Frank

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Updated 26 May 2022
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Saudi Arabia to witness ‘a golden era of hospitality’ in next 10 years: Knight Frank

  • Saudi Arabia, Dubai and Qatar are putting the region on the international global tourism map more strongly and forcefully

RIYADH: The next 10 years will be a golden era for Saudi hospitality as the country has laid down the foundation of transformation in the sector, according to a top official of Knight Frank in the Middle East and North Africa.

“You can call the coming 10 years of Saudi Arabia the golden era of its hospitality. It will not happen again in the coming years and years to come. It will lay the foundation for hospitality in the long term,” Turab Saleem, head of hospitality, tourism and leisure consultancy at Knight Frank in the Middle East and North Africa, told Arab News in an exclusive interview on the sidelines of the Future Hospitality Summit in Riyadh.

MENA affirms top spot on global tourism map

Saleem added that the entire Middle East and North Africa region is becoming a tourism hotbed, as each country is flowering its own tourism plan to elevate the industry.

“Saudi Arabia, Dubai and Qatar are putting the region on the international global tourism map more strongly and forcefully. You got half-a-million keys under development within Egypt, UAE and KSA. Where else is this happening?” asked Saleem.

The advent of Saudi cuisine

Saleem predicted that Riyadh would soon become one of the top five food destinations globally and added that the flavors of the Saudi capital would mesmerize the world.

“Riyadh will be among the top five-six destination in the world. It is going to emerge from Riyadh and is happening. Three or four very talented chefs and entities are doing it, and one or two are ahead of others. I can’t share the name, though,” pointed out Saleem.

He further added: “It’s a matter of a few months. Soon, you will see some great Saudi cuisines launched from Riyadh that will reach out to London, New York, and other international destinations.”

Saleem lauded the Kingdom’s lofty ambitions to attract 100 million tourists by the end of this decade as part of its Vision 2030 blueprint.

“It’s a very ambitious target. We will reach it. Even if we reach it partially, it’s still a big success. Let the world know we are at par with them,” said Saleem.

 


The Family Office to host global investment summit in Saudi Arabia

Updated 4 sec ago
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.