Riyadh to be capital of global tourism industry: Tourism Minister

Saudi Arabia’s Tourism Minister Ahmed Al-Khateeb said, "Saudi Arabia achieved a historical number this year in terms of the number of visitors.” (Supplied)
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Updated 26 October 2022
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Riyadh to be capital of global tourism industry: Tourism Minister

RIYADH: Riyadh is set to become the capital of the global tourism industry as the Kingdom steadily diversifies its economy in line with the goals set out in Saudi Arabia's Vision 2030 strategy, Saudi Arabia’s Tourism Minister Ahmed Al-Khateeb said. 

Speaking at the Future Investment Initiative in Riyadh on Oct. 25, Al-Khateeb said in order to give incoming travelers the best experience possible, the nation is building spectacular destinations which will operate in a sustainable manner. 

“We have the vision, we put the plan, and we put all the resources, especially the financial resources to deliver the plan,” said Al-Khateeb. 

Al-Khateeb further noted Saudi Arabia’s tourism sector is strongly rebounding after the pandemic. 

“We recovered about 60 percent versus pre-pandemic. People have started to travel. Saudi Arabia achieved a historical number this year in terms of the number of visitors,” said Al-Khateeb. 

He added: “We are almost half way to delivering our plan, we’re achieving many successes. We will see more destinations in the near future that will put Saudi Arabia at the top.” 

Despite the World Bank’s prediction of a global slowdown, Al-Khateeb noted that the tourism industry will not face any negative effects, and predicted that the number of arrivals to Saudi Arabia will soar by 300 percent and the spending in the sector will grow by 320 percent by 2030. 

As a part of the National Tourism Strategy, Saudi Arabia has allocated $100 million to train young Saudis to work in the sector. 

For her part, Julia Simpson, president of the World Tourism and Travel Council, lauded Al-Khateeb and said that she has never seen such ambition for tourism in any other country. 

“I really applaud the work of his Excellency Al Khateeb because I have never ever seen an ambition for tourism quite like I am seeing here. The investment, the commitment, the energy, the drive. After this wonderful conference, we will hold a summit here on November 28,” added Simpson.


SAL agrees $30m Aviapartner Liege acquisition to expand into Europe

Updated 58 min 54 sec ago
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SAL agrees $30m Aviapartner Liege acquisition to expand into Europe

RIYADH: SAL Saudi Logistics Services Co. has agreed to acquire Belgium-based Aviapartner Liege SA for €28 million ($30.3 million), giving the Saudi logistics firm a foothold at one of Europe’s major air cargo hubs. 

Under a sale and purchase agreement signed with Aviapartner Belgium NV and Aviapartner Holding NV, SAL will acquire 100 percent of the company’s share capital on a cash-free, debt-free basis, according to a filing on Saudi Exchange. 

The acquisition gives SAL a full operational presence at Liege Airport in Belgium, a key European cargo hub, and is expected to support the company’s long-term growth strategy. 

SAL, which provides cargo handling and logistics services across Saudi airports, has been expanding its service portfolio as the Kingdom invests heavily in aviation and supply-chain infrastructure under Vision 2030. 

In the Tadawul filing, the company stated: “This acquisition supports SAL’s international expansion strategy by establishing an operational footprint at a key European cargo hub, expanding its cargo ground handling and logistics service offerings at international airports, geographically diversifying its revenue streams, and leveraging operational synergies through access to established infrastructure, airline relationships, and a mature operating environment.” 

The deal is strategically significant because Liege Airport has emerged as one of Europe’s most important air cargo hubs and a rapidly expanding gateway for global freight flows. 

The Belgian airport is the fifth-largest cargo airport in Europe and has recorded strong growth in recent years, handling more than 1.3 million tonnes of cargo in 2025 as volumes rose about 14 percent year on year. 

The transaction will be financed through the company’s available cash resources and remains subject to customary closing conditions and regulatory approvals. 

Aviapartner Liege, based in Liege, Belgium, primarily provides ground handling and cargo services. 

Financial disclosures show Aviapartner Liege generated revenues of €24.7 million in 2023, rising to €28.6 million in 2024 before declining to €24.3 million in 2025. 

SAL said it expects the transaction to have a positive long-term impact on its financial performance following completion and consolidation of the acquired company’s financial results.  

The company added that no related parties were involved in the transaction, which was signed on March 4.