Saudi Arabia Launches Int’l Center for Sustainable Travel, Tourism Research

Countries including the US, China, France, Spain and the Netherlands will be involved in the research, in what is viewed as a key step toward worldwide tourism sustainability (Asharq Al-Awsat)
Countries including the US, China, France, Spain and the Netherlands will be involved in the research, in what is viewed as a key step toward worldwide tourism sustainability (Asharq Al-Awsat)
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Saudi Arabia Launches Int’l Center for Sustainable Travel, Tourism Research

Countries including the US, China, France, Spain and the Netherlands will be involved in the research, in what is viewed as a key step toward worldwide tourism sustainability (Asharq Al-Awsat)
Countries including the US, China, France, Spain and the Netherlands will be involved in the research, in what is viewed as a key step toward worldwide tourism sustainability (Asharq Al-Awsat)

The Sustainable Tourism Global Center (STGC) has unveiled a new global research hub on the sidelines of the Middle East and North Africa (MENA) Climate Week in Riyadh.

This initiative, spearheaded by the Saudi Ministry of Tourism, aims to serve as a reference for applied research, best practices, and practical tools designed to expedite the travel and tourism sector's transition towards achieving zero carbon neutrality.

The establishment of this center is a response to the fact that the travel and tourism sector has been responsible for over 8% of global greenhouse gas emissions since 2019.

Without measures to curb these emissions, carbon emissions in the sector are expected to increase by 20% by 2030.

The center has stated its intention to address this issue by forming partnerships with 100 universities and international organizations from around the world by 2030.

These collaborations will focus on investing in practical tools and resources that will promote sustainability within the sector.

Notably, prestigious academic institutions in the US, China, France, Spain, and the Netherlands have already joined the research hub to realize this vision on the ground.

Ahmed Al-Khateeb, Saudi Arabia’s tourism minister, hailed the launch of the center.

“Our objective is clear. With the support of the Sustainable Tourism Global Center and the Ministry of Tourism, we aim for the (new) center to be an indispensable hub of solutions and tools, benefiting every stakeholder,” he said.

The Saudi Tourism Ministry’s special adviser, Gloria Guevara, highlighted the importance of trustworthy tourism data in empowering sustainability projects.

The research hub can serve as a “beacon of modern, trustworthy information” targeted to the particular needs of small and medium-sized businesses, tourists and local communities, she added.

As part of its launch, the research hub showcased a variety of sustainable solutions for the industry, including solar thermal water heaters and sustainable food options.



Egypt’s Central Bank Reports $26 Billion in Remittances in 11 Months

General view of the new headquarters of the Central Bank of Egypt, at the New Administrative Capital (NAC) in the east of Cairo, Egypt, March 18, 2024. REUTERS/Mohamed Abd El Ghany/File Photo
General view of the new headquarters of the Central Bank of Egypt, at the New Administrative Capital (NAC) in the east of Cairo, Egypt, March 18, 2024. REUTERS/Mohamed Abd El Ghany/File Photo
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Egypt’s Central Bank Reports $26 Billion in Remittances in 11 Months

General view of the new headquarters of the Central Bank of Egypt, at the New Administrative Capital (NAC) in the east of Cairo, Egypt, March 18, 2024. REUTERS/Mohamed Abd El Ghany/File Photo
General view of the new headquarters of the Central Bank of Egypt, at the New Administrative Capital (NAC) in the east of Cairo, Egypt, March 18, 2024. REUTERS/Mohamed Abd El Ghany/File Photo

The Central Bank of Egypt (CBE) has announced that November 2024 saw a substantial 65.4% year-over-year increase in remittances, which reached approximately $2.6 billion compared to $1.6 billion in November 2023.

In a statement released on Wednesday, the bank said there has been a remarkable rise in remittances, with Egyptians working abroad sending home $26.3 billion during the first 11 months of 2024—up from $17.9 billion in the same period of 2023. This marks an impressive growth rate of 47.1%.

The CBE attributed the significant increase in remittances to the economic reforms implemented in March 2024.

Between July and November last year, remittances grew by 77%, reaching around $13.8 billion —up from $7.8 billion in the same period of 2023.

Remittances from Egyptians abroad have long been one of Egypt’s most vital sources of foreign currency.