عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Tourism Minister: Kingdom to Provide 250,000 Jobs while Hosting Expo 2030

In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019. SPA
In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019. SPA
TT
TT

Saudi Tourism Minister: Kingdom to Provide 250,000 Jobs while Hosting Expo 2030

In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019. SPA
In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019. SPA

Saudi Minister of Tourism Ahmed Al-Khateeb said Thursday the Kingdom will provide 250,000 jobs during its hosting of the Expo 2030 in Riyadh.

He stressed the importance of sustainable jobs that the Kingdom will provide, including 1,000 hotel rooms on the sidelines of the exhibition.

In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019, which will take the domestic product in this sector from 3% to 10% in 2030, which requires providing one million additional jobs by 2030.

The minister referred to the Kingdom's chairmanship of the Executive Council of the United Nations World Tourism Organization and its hosting of the forthcoming General Assembly of the council under three priorities: the sustainability of the planet and the environment; the assurance of suitable jobs for human beings, tourism growth, travel and double the number of services; and the importance of maintaining place in any tourist destination.

He explained that the world's population will reach 8.5 billion by 2030, noting that there is a digitization process for many services, including the labor market, especially in terms of trade and manufacturing that have been digitized since decades, which has had a negative impact on the labor market.

Al-Khateeb added that the travel and tourism sector represented 10% of the global labor market, and provided 330 million jobs in 2019 before the pandemic, and that airlines and hotels were the most affected sectors globally by losing 60 million jobs, saying: "We are back in the pre-pandemic according to figures by the United Nations World Tourism Organization, and the World Travel and Tourism Council, which is good."

He noted that the tourism sector globally provides 10% of jobs in the labor market, so it is an important sector for growth in the future, stressing the importance of maintaining the human component of the tourism sector as it plays an essential and central role in sharing the cultures from different countries that we travel to.

Most Viewed

 
 
Business

Oil Falls on Demand Growth Concerns, Robust Dollar

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
TT
TT

Oil Falls on Demand Growth Concerns, Robust Dollar

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down nearly 3%.
Brent crude futures fell by 33 cents, or 0.45%, to $72.55 a barrel by 0730 GMT. US West Texas Intermediate crude futures eased 32 cents, or 0.46%, to $69.06 per barrel, Reuters said.
Chinese state-owned refiner Sinopec said in its annual energy outlook released on Thursday that China's crude imports could peak as soon as 2025 and the country's oil consumption would peak by 2027 as diesel and gasoline demand weaken.
"Benchmark crude prices are in a prolonged consolidation phase as the market heads towards the year-end weighed by uncertainty in oil demand growth," said Emril Jamil, senior research specialist at LSEG.
He added that OPEC+ would require supply discipline to perk up prices and soothe jittery market nerves over continuous revisions of its demand growth outlook. The Organization of the Petroleum Exporting Countries and allies, together called OPEC+, recently cut its growth forecast for 2024 global oil demand for a fifth straight month.
Meanwhile, the dollar's climb to a two-year high also weighed on oil prices, after the Federal Reserve flagged it would be cautious about cutting interest rates in 2025.
A stronger dollar makes oil more expensive for holders of other currencies, while a slower pace of rate cuts could dampen economic growth and trim oil demand.
JPMorgan sees the oil market moving from balance in 2024 to a surplus of 1.2 million barrels per day (bpd) in 2025, as the bank forecasts non-OPEC+ supply increasing by 1.8 million bpd in 2025 and OPEC output remaining at current levels.
In a move that could pare supply, G7 countries are considering ways to tighten the price cap on Russian oil, such as with an outright ban or by lowering the price threshold, Bloomberg reported on Thursday.
Russia has circumvented the $60 per barrel cap imposed in 2022 using its "shadow fleet" of ships, which the EU and Britain have targeted with further sanctions in recent days.