Red Sea Global continues to upskill Saudi talent in line with Vision 2030  

RSG’s CEO John Pagano speaking at the Real Estate Future Forum. Screenshot
Short Url
Updated 22 January 2024
Follow

Red Sea Global continues to upskill Saudi talent in line with Vision 2030  

RIYADH: In line with Vision 2030, Red Sea Global is making significant strides in training and upskilling young Saudis to tap into the opportunities this initiative presents.   

During the Real Estate Future Forum held in Riyadh, RSG’s CEO John Pagano emphasized the company’s commitment to developing local talent as a cornerstone of their contribution to the national vision.  

“We are spending an enormous amount of effort on training and upskilling young Saudis to benefit from the opportunities that Vision 2030 is creating,” he said.   

This focus extends beyond higher education, targeting jobs across the spectrum in the tourism sector.  

A significant effort in this direction is RSG’s vocational program, conducted in partnership with the Human Resources Development Fund.   

The program has already yielded results. “We graduated our first 480 students in the summer, and all 480 found jobs at Red Sea Global,” Pagano shared.   

These graduates have been employed across various hospitality partners, including airport services, engineering, and renewable energy sectors.  

Highlighting the company’s broader employment goals the CEO stated: “Ultimately, between Red Sea and AMAALA alone, we are going to create 120,000 jobs, 60,000 direct and 60,000 indirect.”   

Moreover, the company also runs an elite graduate training program which saw 70 graduates chosen from 60,000 applications.   

Pagano further stressed the importance of nurturing young talent as he foresees that one of these individuals will eventually lead the business forward.  

In addition to its human resource initiatives, RSG is also committed to sustainable development.   

The CEO mentioned that the company has taken the approach of developing 22 out of 90 islands, leaving 75 percent untouched, and limiting visitor numbers to maintain ecological balance.   

“This is all part of respecting our ecological ceiling and not stressing this valuable environment so that future generations can enjoy,” he explained.   

This approach aligns with the company’s goal to enhance the net conservation value of its destinations by 30 percent in the next decade, demonstrating a commitment to regenerative tourism.  

Pagano stated that the company’s sustainability efforts have been evident as it built the biggest tourism destination powered by renewable energy.  

“We have installed 760,000 solar panels to power the destination. We are completely off gird, meaning we do not connect to the national grid, and we have the largest battery storage system in the world to date,” the CEO added.  


Saudi unemployment eases to 3.4% in Q3: GASTAT  

Updated 8 sec ago
Follow

Saudi unemployment eases to 3.4% in Q3: GASTAT  

RIYADH: Saudi Arabia’s overall unemployment rate stood at 3.4 percent in the third quarter of this year, marking a 0.3 percentage point decline compared with the same period in 2024, official data showed. 

According to the General Authority for Statistics, the annual improvement came despite a 0.2 percentage point increase from the previous quarter. 

Saudi Arabia’s unemployment rate fell to a record low of 2.8 percent in the first quarter of the year before edging up to 3.2 percent in the second quarter and rising further in the third. 

The Kingdom’s strengthening labor market aligns with its Vision 2030 agenda, which aims to expand employment opportunities for citizens and support long-term economic growth. Reducing unemployment remains a central pillar of the broader socio-economic reform program. 

In its latest release, GASTAT stated: “The overall labor force participation rate (for Saudis and non-Saudis) reached 66.9 percent, showing a decrease of 0.2 percentage points compared to second quarter of 2025 and a yearly increase of 0.3 percentage points compared to the third quarter of 2024.”  

Among Saudi nationals, the rate of joblessness reached 7.5 percent in the third quarter, representing an annual decrease of 0.3 percentage points and a quarterly rise of 0.7 percentage points.  

Compared to the second quarter, the employment-to-population ratio for Saudis decreased by 0.6 percentage points to reach 45.3 percent. On a yearly basis, the ratio fell by 2.1 percentage points. 

“The labor force participation rate for Saudis in the third quarter of 2025 decreased by 0.2 percentage points compared to the second quarter, reaching 49 percent, and a decrease of 2.5 percentage points compared to the third quarter of 2024,” GASTAT said.  

Labor force participation of Saudi women stood at 33.7 percent in the third quarter, representing a 0.8 percentage point decline compared to the previous three months.  The employment-to-population ratio of Saudi women decreased by 0.9 percentage points to reach 29.7 percent.  

During the same period, the unemployment rate among Saudi women rose by 0.8 percentage points to 12.1 percent, compared with the previous quarter. 

Among Saudi men, the labor force participation rate increased by 0.3 percentage points to 64.3 percent. 

GASTAT also reported that 95.3 percent of unemployed Saudis are willing to work in the private sector. About 70.6 percent of unemployed Saudi women and 86.7 percent of unemployed Saudi men said they were open to working eight hours or more per day. 

The survey found that 61 percent of unemployed Saudi women and 42.7 percent of unemployed Saudi men were willing to commute for at least one hour to reach their workplaces. 

Among job seekers, the most common active search method was directly applying to employers, used by 73.3 percent of respondents in the third quarter. About 59.4 percent used the National Employment Platform, known as Jadarat, while 50.5 percent searched for jobs by posting or updating CVs on social media platforms.