UNWTO Executive Director: It’s Time to Empower Women in the Region’s Tourism Sector

Natalia Bayona, who leads the innovation, education, and investments strategy of the UNWTO, believes that Saudi Arabia is positively heading towards greater empowerment of women in the tourism sector
Natalia Bayona, who leads the innovation, education, and investments strategy of the UNWTO, believes that Saudi Arabia is positively heading towards greater empowerment of women in the tourism sector
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UNWTO Executive Director: It’s Time to Empower Women in the Region’s Tourism Sector

Natalia Bayona, who leads the innovation, education, and investments strategy of the UNWTO, believes that Saudi Arabia is positively heading towards greater empowerment of women in the tourism sector
Natalia Bayona, who leads the innovation, education, and investments strategy of the UNWTO, believes that Saudi Arabia is positively heading towards greater empowerment of women in the tourism sector

The UN World Tourism Organization (UNWTO) is set to launch the “UNWTO Women in Tech Startup Competition: Middle East” on September 27 in the Saudi capital city of Riyadh.

The initiative aims to empower women in the tourism sector and increase their presence, while also supporting pioneering technological projects in the Arab region.

Furthermore, it seeks to financially support participating women by attracting investors from around the world.

The competition aligns with Saudi Arabia’s drive to develop its tourism system, injecting 3 trillion riyals ($800 billion) in the coming years to establish colossal projects that support its plan of attracting 100 million tourists by 2030.

Relevant authorities in the Kingdom have already begun enhancing their workforce and supporting Saudi entrepreneurs in developing their specialized companies within the sector.

Additionally, efforts are being made to empower women due to their low participation in the tourism industry in the Arab region compared to the global average.

Natalia Bayona, UNWTO Executive Director who is leading the innovation, education, and investments strategy of the UNWTO, told Asharq Al-Awsat that it is time to specifically focus on supporting talented women entrepreneurs in Saudi Arabia and the Middle East to shape the future of tourism in the region.

Women represent 34% of startup founders in the technology field in the region and over 50% of graduates in science, technology, engineering, and mathematics in the Arab world.

Therefore, the competition represents a convergence of empowering women, innovation, and tourism.

Tourism has a special impact on the lives of women and youth, as it is the primary sector in which they work at a global level, emphasized Bayona.

It is interesting to note that while women represent approximately 54% of the workforce in international tourism, they account for only 8% in the Middle East, she added.



3,000 Saudi SMEs Benefit from Loans Exceeding $2.1 billion

Cafes are among the small establishments witnessing growth in the Saudi market (SPA)
Cafes are among the small establishments witnessing growth in the Saudi market (SPA)
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3,000 Saudi SMEs Benefit from Loans Exceeding $2.1 billion

Cafes are among the small establishments witnessing growth in the Saudi market (SPA)
Cafes are among the small establishments witnessing growth in the Saudi market (SPA)

Around 3,000 Saudi SMEs benefited from The Small and Medium Enterprises Loan Guarantee Program (Kafalah) during the first half of 2024.

The program reported issuing 3,543 financing guarantees worth over SAR 8 billion, compared to SAR 7.2 billion last year, marking an 11.66% increase. The value of the guarantees provided exceeded SAR 6 billion, compared to SAR 5.7 billion in 2023, reflecting a 4.63% increase, according to a statement by Kafalah.

CEO and Board Member Homam Hashem stated that SMEs are the main economic driver and crucial for achieving economic development and income diversification, as emphasized by Vision 2030.

He highlighted the importance of government and private sector efforts to support SMEs and address their challenges, pointing to the program’s success as a public-private partnership model.

Kafalah program, in coordination with the SME Bank, aims to achieve Vision 2030 goals in all initiatives and products, helping SMEs obtain financing to grow and expand across the Kingdom, and encouraging financial institutions to engage with the SME sector.

Since its launch in fiscal year 2006, and until the end of the second quarter of 2024, the program has approved more than 63,000 guarantees benefitting 22,000 SMEs, with a total value of financing exceeding SAR 99 billion ($26.4 billion). The total value of issued guarantees amounted to SAR 70.5 billion.