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Red Sea National Academy to Support Saudi Tourism Sector

The academy's objective is to train 10,000 participants by 2030, preparing young Saudis for diverse roles within the tourism sector. SPA
The academy's objective is to train 10,000 participants by 2030, preparing young Saudis for diverse roles within the tourism sector. SPA
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Red Sea National Academy to Support Saudi Tourism Sector

The academy's objective is to train 10,000 participants by 2030, preparing young Saudis for diverse roles within the tourism sector. SPA
The academy's objective is to train 10,000 participants by 2030, preparing young Saudis for diverse roles within the tourism sector. SPA

The establishment of "the Red Sea National Academy" (TRSNA) was announced during the Human Capability Initiative held in Riyadh to implement joint programs between the Technical and Vocational Training Corporation, Colleges of Excellence and Red Sea Global, to qualify trainees with technical specializations that align with the demands of the labor market in the region.

The announcement of the establishment was made under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom.

TRSNA will be established and operated in Al-Wajh and develop joint training programs that are aligned with the needs of the labor market.

The academy's objective is to train 10,000 participants by 2030, preparing young Saudis for diverse roles within the tourism sector. The signing of the agreement was sponsored by Minister of Education Yousef Al-Benyan.

The agreement involved the Vice Governor of Planning & Business Development at the Technical and Vocational Training Corporation, Reem Al-Muqbel, CEO of Colleges of Excellence, Eng. Ayman Al-Abdullah, and Group CEO of Red Sea Global John Pagano.

Al-Muqbel underscored the Technical and Vocational Training Corporation's commitment to developing national human resources through various training programs and building strategic partnerships with the private sector to address the labor market's needs for qualified human resources.

Al-Abdullah expressed confidence in TRSNA's ability to supply the tourism sector with qualified Saudis. He emphasized that TRSNA will create a stimulating training environment to enhance creative and innovative skills among trainees, becoming a leading center for education and training in the field of tourism, thereby enhancing the Kingdom's position as a global tourist destination.

Highlighting TRSNA as part of the Strategic Partnership Institutes in the Kingdom emphasizes its commitment to providing high-quality training programs tailored to the evolving demands of the labor market.

Pagano commented that, as one of the core projects in making Vision 2030 a reality, RSG is at the forefront of the Kingdom's growing tourism industry.

It has two hotels open, with an additional four resorts scheduled to open by the end of this year and 19 hotels across The Red Sea and Amaala opening next year.

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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.