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Global Companies Compete to Expand Investments in Saudi Defense Expo

Sauidi Crown Prince Mohammed bin Salman during his tour at the previous edition of the World Defense Show (Asharq Al-Awsat)
Sauidi Crown Prince Mohammed bin Salman during his tour at the previous edition of the World Defense Show (Asharq Al-Awsat)
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Global Companies Compete to Expand Investments in Saudi Defense Expo

Sauidi Crown Prince Mohammed bin Salman during his tour at the previous edition of the World Defense Show (Asharq Al-Awsat)
Sauidi Crown Prince Mohammed bin Salman during his tour at the previous edition of the World Defense Show (Asharq Al-Awsat)

Multiple local, regional, and international companies are in fierce competition to participate in the second edition of the “World Defense Show,” set to take place in February 2024 in the Saudi capital, Riyadh.

Their aim is to expand their investments. Participating entities have hurried to reserve 93% of the exhibition’s space, which is estimated to be around 47,000 square meters, nearly six months ahead of the event.

The second edition of the World Defense Shoe is sponsored by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.

It will be held on February 4-8, 2024, embodying the Saudi government’s aspirations to organize a specialized exhibition among the world’s finest defense and security expos.

The second edition of the global exhibition targets 750 exhibiting entities from 45 countries, along with approximately 115 official delegations and 100,000 visitors from both within and outside the kingdom.

Among the largest pavilions at the show are those of China, Turkey, the US, and the UAE.

Others will be distributed among countries like South Korea, Russia, Croatia, Austria, Poland, Estonia, Greece, Ukraine, and more.

The second edition of the defense exhibition will feature new programs, including the “Future of Defense Platform,” the “Future of Defense Forum,” and the “Space Platform.”

The exhibition will also offer interaction and networking sessions.

These additions will complement the core programs witnessed in the previous edition.

The first day of the exhibition will be dedicated to important figures, delegations, exhibitors, and media, alongside the organization of the “Future of Defense Forum.”

This forum will take place at a high level, featuring prominent speakers who will present their insights and ideas, discussing the future of defense and security.

The Saudi government aims for the exhibition to become one of the top three defense and security expos in the world by 2030, with the country playing an effective role within the global supply chains related to land, maritime, aerial, space, and security defense sectors.

The exhibition supports international business tourism by hosting high-level global delegations, exhibitors, and visitors. It also aligns with the Kingdom’s objectives of localizing over 50% of government spending on defense and military products and services by 2030.

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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 

Emerging tourism markets are carving out space on the global travel map, drawing attention for their dynamic participation at the Arabian Travel Market (ATM) in Dubai, while Gulf nations—particularly Saudi Arabia and the United Arab Emirates—are accelerating their expansion in the tourism sector.

As global travel gathers momentum, Gulf-based airlines are eyeing new investment opportunities despite lingering global economic uncertainty, driven by shifting trade patterns and evolving consumer behavior in the international travel landscape.

The 32nd edition of ATM opened in Dubai with more than 2,800 exhibitors and nearly 55,000 industry professionals from 166 countries. Held under the theme “Empowering Innovation: Transforming Travel Through Entrepreneurship,” the event emphasized building a more sustainable and globally integrated travel industry.

The exhibition reflects the profound changes shaping global tourism, with cross-border and sustainable connectivity now central to the industry’s development. It also highlights the growing influence of emerging markets and the increasing role of Gulf investments in tourism and aviation.

During its participation in ATM, the Saudi Tourism Authority showcased the Kingdom’s accelerating tourism growth, revealing it had attracted approximately 116 million visitors in 2024—a 6.4% increase from the previous year. Fahd Hamidaddin, the authority’s CEO, said Saudi Arabia aims to strengthen its position as a unique summer destination through a robust calendar of events and strategic private-sector partnerships. The focus is on key source markets across the Middle East, Asia, and Africa.

UAE Tourism Supports Economic Diversification

UAE Minister of Economy and Chairman of the Emirates Tourism Council, Abdulla bin Touq Al Marri, emphasized the country’s growing stature as a global tourism hub. He pointed to the launch of major national initiatives that align with best international practices, support economic diversification, and attract investment in hospitality, aviation, and travel.

According to bin Touq, the UAE’s tourism sector continued to deliver strong performance in 2024. Hotel revenues rose to AED 45 billion (USD 12.2 billion), up 3% from 2023, while occupancy rates reached 78%, among the highest globally. The country added 16 new hotels last year, increasing the total to 1,251, with room capacity growing 3%. Hotel guests rose 9.5% year-on-year to 30.8 million, achieving 77% of the UAE’s 2031 national tourism target seven years ahead of schedule.

Gulf Airlines Gear Up for Growth

Etihad Airways CEO Antonoaldo Neves said the airline has yet to feel any major impact from global trade tensions, with seat occupancy remaining strong despite global uncertainty. Etihad plans to add 20 to 22 aircraft in 2025, with the goal of expanding its fleet to more than 170 aircraft by 2030. Neves also noted that the euro’s recent appreciation could boost European travel to the Gulf.

Etihad, which currently operates a fleet of around 100 aircraft, has significant financial flexibility, with 60% of its fleet debt-free. “If a crisis arises, we can ground planes and save up to 75% of operating costs,” he noted.

The airline plans to receive 10 Airbus A321XLR jets starting in August, in addition to 6 Airbus A350s and 4 Boeing 787s. Neves said while delays in aircraft delivery remain a challenge, they have not altered Etihad’s growth strategy. He also confirmed ongoing discussions with manufacturers and signaled interest in Boeing aircraft originally designated for China but now potentially available due to trade restrictions.

Riyadh Air Nears Major Aircraft Deal

Tony Douglas, CEO of Saudi Arabia’s Riyadh Air, said the new airline is open to acquiring Boeing jets initially built for the Chinese market if trade disputes disrupt those deliveries.

Douglas said global economic headwinds have not affected demand and announced plans to finalize a major widebody aircraft deal soon. The airline aims to expand its workforce to around 1,000 employees in the coming year, as it prepares to begin operations in the fourth quarter of 2025.

Commenting on broader regional developments, Douglas said the resumption of flights from the UAE to Syria and the use of Syrian airspace “may be an early sign that conditions are improving.”