Expo 2030 Accelerates Massive Tourism Projects in Riyadh

Diriyah Tourism Area (Diriyah Gateway Development Authority)
Diriyah Tourism Area (Diriyah Gateway Development Authority)
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Expo 2030 Accelerates Massive Tourism Projects in Riyadh

Diriyah Tourism Area (Diriyah Gateway Development Authority)
Diriyah Tourism Area (Diriyah Gateway Development Authority)

After Riyadh’s triumph in securing the hosting rights for Expo 2030, attention has shifted towards the Saudi tourism sector, poised to benefit significantly from millions of visitors worldwide during the exhibition period.
Concurrently, Riyadh is accelerating its tourism projects to capitalize on the exhibition's momentum.
On Tuesday, Riyadh surpassed the Italian capital Rome and the Korean city of Busan during the first round of voting held in France.
The Group CEO of Diriyah Company, Jerry Inzerillo, views Saudi Arabia’s victory in hosting Expo 2030 as a significant success for the kingdom's tourism sector.
According to Inzerillo, the announcement of the Kingdom of Saudi Arabia hosting Expo 2030 is a testament to the magnitude of the transformation and success achieved by the Kingdom.
He anticipated that the exhibition would attract no less than 28 million visitors immersing themselves in unique cultures across 246 astonishing pavilions.
Earlier, Saudi Arabia achieved a significant milestone in the tourism sector, ranking second globally in terms of tourist arrivals during the first seven months of 2023.
According to the Ministry of Tourism, the Kingdom witnessed a remarkable 58% growth in tourist numbers during the first seven months of this year when compared to the same period in 2019.
This data was sourced from the UNWTO World Tourism Barometer, published by the United Nations World Tourism Organization (UNWTO) in September.
“We aim to receive 50 million annual visits to Diriyah, create over 178,000 direct job opportunities, and contribute $18.6 billion to the gross domestic product by 2030,” said Inzerillo in a press release on Wednesday.
Diriyah, known as the cradle of the kingdom and one of Saudi Arabia's most important historical sites, symbolizes national pride and a source of Saudi identity.
Fahad Al-Rasheed, CEO of the Royal Commission for Riyadh City, told the Associated Press that the kingdom’s exhibition plan includes transforming Riyadh into an “open-ended art exhibition without borders.”
Saudi Arabia continues its global openness to welcome the largest number of visitors, aiming to achieve its targets of receiving 100 million tourists by 2030.
Recently, the Ministry of Tourism announced the electronic issuance of visit visas for citizens of six countries, bringing the total number of countries benefiting from this service to 63.

 

 



Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.