Ivory Coast’s tourism share of GDP falls from 7.3% in 2019 to 1.8%, says minister

Siandou Fofana, minister of tourism and recreation.
Short Url
Updated 13 June 2022
Follow

Ivory Coast’s tourism share of GDP falls from 7.3% in 2019 to 1.8%, says minister

  • Country is planning to mobilize 2,000 billion West African CFA francs ($4 billion) to revive its tourism industry

JEDDAH: Ivory Coast is planning to mobilize 2,000 billion West African CFA francs ($4 billion) to revive its beleaguered tourism industry, which has witnessed a decline of 73 percent in its business activity in the tourism industry during the first year of the pandemic followed by a current decline of 63 percent, said its Minister of Tourism and Recreation Siandou Fofana.

Speaking to Arab News en Français on the sidelines of the 116th Executive Council meeting of the UN World Tourism Organization, Fofana said that tourism’s contribution to the gross domestic product declined from 7.3 percent in 2019 to 1.8 percent in 2022. The sector currently offers over 750,000 jobs.

“Ivory Coast has launched the Sublime Côte d’Ivoire recovery plan that will create an additional 450,000 jobs in the tourism sector, half of which will hold qualified positions,” said Fofana, who also holds the position of the chair of the Executive Council of UNWTO.

Echoing the council, he noted that “tourism is united to face future challenges.” He further emphasized the need to improve planning and policymaking as the sector emerges from the COVID-19 pandemic.

“In view of the pandemic, we must embark on the path of responsible tourism by integrating new criteria, including a sanitary framework. This type of criteria must be considered in the definition of major projects so that there is a better recovery of activity for our countries,” said Fofana.

Several topics were discussed during this meeting, including how to boost the sector’s activity and align good governance with the development needs of the industry.

“Efforts must be made by all to optimize and coordinate actions to move forward,” he added.

The UNWTO meet also saw Saudi Arabia and Spain playing a pivotal role in strengthening global tourism as both countries continue to share strong business relationships.

“Saudi Arabia is among the 30 most visited countries in the world. It is instantly noticeable with all the hotels and infrastructure that the country has developed. Whatever the Kingdom has managed to achieve is beautiful,” Fofana said.

Led under the leadership of Fofana, the 116th session was the largest meeting of the Executive Council since the start of the pandemic, with more than 200 participants and 32 countries represented.

It also marks the beginning of a new era where tourism is expected to become more sustainable, inclusive and resilient.

The next UNWTO meeting will continue on its African safari and will be in Marrakech, Morocco.


Diriyah Co. partners with Midad to develop Four Seasons hotel in Diriyah 

Updated 07 January 2026
Follow

Diriyah Co. partners with Midad to develop Four Seasons hotel in Diriyah 

RIYADH: Saudi Arabia’s sovereign wealth fund-backed developer, Diriyah Co., has signed a joint development agreement with Midad Real Estate Investment and Development Co. to construct the Four Seasons Diriyah Hotel and private residences. 

The partnership will strengthen collaboration between the two companies through the development of the luxury Four Seasons Diriyah, which will feature 159 rooms, alongside private Four Seasons residences, spanning approximately 235,000 sq. meters within Diriyah’s master plan. 

The project’s total value is projected at SR3.1 billion (approximately $827 million), encompassing both land acquisition and construction expenses. 

Midad is one of the Kingdom’s leading real estate developers, expanding its portfolio of high-end projects and maintaining numerous strategic partnerships with prominent global brands, reinforcing its reputation as a trusted name in luxury residential and hospitality development across Saudi Arabia. 

This partnership marks the first major collaboration between Diriyah Co. and Midad, supporting Diriyah’s plans to develop 40 luxury hotels across its two main projects: the 14-sq.-km Diriyah Project and the 62-sq.-km Wadi Safar Project, a premium destination that blends lifestyle, culture, and entertainment. 

Commenting on the agreement, Minister of Tourism and Secretary-General of Diriyah Co., Ahmad Al-Khatib, said: “The Kingdom continues to set new standards in developing tourism destinations, with Diriyah at the forefront.” 

He added that such partnerships enhance the world-class experiences Saudi Arabia offers and strengthen the Kingdom’s position as a leading destination in this sector. 

Diriyah Co. CEO Jerry Inzerillo commented that the Four Seasons Diriyah Hotel and Residences will be one of the Kingdom’s largest luxury hotels. 

“We are proud to announce this joint development with Midad, one of Saudi Arabia’s top real estate developers. This agreement reflects our ongoing commitment to enabling Saudi partners to contribute to Diriyah’s transformative journey and confirms Midad’s confidence in the opportunities the project presents,” Inzerillo added. 

Midad CEO Abdelilah bin Mohammed Al-Aiban said: “This project is a pivotal milestone for our company, allowing us to bring the Four Seasons experience to one of the Kingdom’s most prominent heritage destinations.” 

He added: “We are excited to deliver a project that embodies design excellence, world-class service, and sustainable value, while contributing meaningfully to Saudi Arabia’s tourism, cultural, and economic ambitions.” 

The collaboration comes amid rapid progress on the SR236 billion Diriyah project, which has awarded construction contracts worth more than SR101.25 billion to date. 

Diriyah is expected to contribute approximately SR70 billion directly to the Kingdom’s gross domestic product, create more than 180,000 jobs, accommodate 100,000 residents, and host around 50 million annual visitors. 

The development will feature contemporary office spaces accommodating tens of thousands of professionals across technology, media, arts, and education, complemented by museums, retail destinations, a university, an opera house, and the Diriyah Arena.  

It will also offer a diverse selection of restaurants and cafes, alongside nearly 40 world-class resorts and hotels distributed across its two primary master plans.