Saudi Arabia, WEF launch initiative to reshape global travel landscape

Beyond Tourism initiative seeks to unlock the full potential of the industry while safeguarding cultural and natural heritage for generations to come. SPA
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Updated 11 November 2025
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Saudi Arabia, WEF launch initiative to reshape global travel landscape

  • ‘Beyond Tourism’ is global framework advancing sustainability, inclusivity, and resilience in the sector

RIYADH: Saudi Arabia has partnered with the World Economic Forum to launch the “Beyond Tourism” initiative, a global framework designed to drive a more sustainable, inclusive, and resilient future for the travel and tourism sector.

Announcing the initiative on his X account, Saudi Minister of Tourism Ahmed Al-Khateeb said he was “thrilled to announce the launch,” noting that it is “dedicated to shaping the future of travel and tourism and is built around 10 core principles.”

Al-Khateeb emphasized that Beyond Tourism underscores the sector’s vital role as “a bridge between cultures, a means to empower communities, and a source of opportunities for future generations.”

The initiative comes as the global travel and tourism industry undergoes a major structural shift — moving away from fragmented, business-as-usual models toward integrated, ecosystem-based strategies.

According to the World Economic Forum, the sector is projected to reach 30 billion tourist visits and contribute $16 trillion to global gross domestic product by 2034. Yet, it continues to face complex challenges including rising tension between visitors and residents, environmental pressures, workforce shortages, and exposure to geopolitical and climate disruptions.

“The global travel and tourism sector is entering a period of profound transformation, moving decisively from a fragmented, business-as-usual operating model to a holistic, ecosystem-based paradigm,” the WEF said in a statement.

The forum noted that past reliance on siloed policies — a weakness underscored during the COVID-19 pandemic — has proven insufficient to address today’s global challenges.

Its proposed ecosystem approach focuses on five key enablers: infrastructure, finance, technology and innovation, people and skills, and policy and governance. The model aims to convert systemic challenges into opportunities for inclusive and sustainable growth.

Several destinations have already demonstrated the benefits of this approach. Countries such as Portugal, New Zealand, Costa Rica, Singapore, and Indonesia have leveraged it to improve conservation outcomes, diversify economies, and strengthen sustainable tourism development.

By promoting global cooperation among governments, private-sector leaders, and local communities, the Beyond Tourism initiative seeks to unlock the full potential of the industry while safeguarding cultural and natural heritage for generations to come.


Stc posts record $20.7b revenue as net profit rises 12.5% 

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Stc posts record $20.7b revenue as net profit rises 12.5% 

RIYADH: Stc Group announced its consolidated financial results for 2025, recording the highest revenue in its history at SR77.8 billion ($20.7 billion), up 2.5 percent from the previous year. 

Net profit increased 12.5 percent after excluding non-recurring items, reflecting the strength of the group’s business model and the continued execution of its sustainable growth strategy. 

The group said gross profit rose to SR37.7 billion, while operating profit reached SR14.4 billion. Earnings before interest, taxes, depreciation, amortization and zakat totaled approximately SR24.5 billion, marking 6.1 percent growth after excluding non-recurring items, driven by improved operational efficiency and disciplined cost and capital expenditure management. 

The company announced a dividend of SR0.55 per share for the fourth quarter of 2025 in line with its approved dividend policy. 

stc Group emphasized its commitment to developing employee capabilities and skills. Over the past year, it reported qualitative progress in talent development through programs such as Partner Development, Job Attachment and the stc Academy. 

The group also sponsored the Human Capability Initiative conference, where it launched a public training platform aimed at equipping national talent with skills aligned with future labor market needs. The initiative underscores its commitment to building digital capabilities in the Kingdom and strengthening national competitiveness. 

stc plays a key role in supporting major international events and religious occasions such as Hajj and Umrah. It continues to support national forums and major events through a reliable digital infrastructure that enhances national identity and elevates the readiness of vital sectors with high efficiency.    

The group said its connectivity solutions and digital services meet international standards, contributing to the Kingdom’s position as a leading destination across sectors and reinforcing stc’s role as a regional digital enabler. 

CEO Olayan bin Mohammed Alwetaid said the results demonstrate the group’s ability to achieve sustainable profit growth while diversifying income sources and strengthening digital infrastructure. 

He said the company continues expanding its network to reach more than 10,800 5G sites and 3.75 million homes served by fiber, in addition to conducting the first regional trial in the 7 GHz band in preparation for 6G technologies.  

The group expanded STC Bank to more than 8 million customers and signed strategic partnerships to establish AI-focused data centers with capacity of up to 1 gigawatt. It also completed strategic digital infrastructure agreements worth billions and issued $2 billion in sukuk that were more than four times oversubscribed.  

In sustainability, the group’s MSCI rating rose to AA and it received a five-star EFQM certificate. It maintained its position as the strongest brand in the Middle East for the sixth consecutive year. 

According to the Brand Finance 2026 report, stc ranked as the strongest brand in the Middle East, third globally among telecommunications brands, and ninth in global telecom brand value, placing it among the world’s top ten telecom companies by brand strength.