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Saudi Tourism Development Fund Signs MoU with Spain's IE University

The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
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Saudi Tourism Development Fund Signs MoU with Spain's IE University

The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA
The agreement aims to improve employee knowledge, awareness, and competencies in the tourism field. SPA

The Saudi Tourism Development Fund (TDF) has signed a Memorandum of Understanding (MoU) with IE University in Spain, a higher education institution focused on training influential leaders. The objective is to implement tailored educational programs and training courses for TDF employees, aligning with the National Tourism Strategy and Saudi Vision 2030.

The agreement, inked by TDF CEO Qusai bin Abdullah Al-Fakhri and IE University President Santiago Iñiguez, aims to elevate employee knowledge, awareness, and competencies in the tourism field.

Al-Fakhri stated that the MoU signifies a significant step toward fostering positive interaction between the tourism sector and educational institutions. The goal is to enhance human capabilities, equip individuals with necessary skills and knowledge, and align development with quality and excellence standards. This, in turn, contributes to professional growth, active participation in Saudi Arabia's tourism boom, and a role in driving growth and prosperity.

Furthermore, Al-Fakhri emphasized TDF's commitment to developing skills and competencies, providing professional development opportunities, and ensuring a qualified workforce to meet the demands of the growing tourism sector. The collaboration with IE University reflects the commitment to creating a supportive educational environment in crucial tourism regions.

IE University's President highlighted the importance of cooperation between higher education and tourism, emphasizing the need to develop specialized professionals in the field.

The agreement aims to achieve integration between education and tourism, working towards producing qualified individuals.

The MoU is part of the TDF's broader initiative, collaborating with top universities, training centers, and international expertise houses. The Graduate Development Program (Tourism Olou) is among the launched educational programs designed to develop Saudi talents, enhance competitiveness, and provide essential skills for the tourism sector.

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Egypt's Headline Inflation Almost Halves in February

Birds fly at sunset in Cairo, Egypt, 09 March 2025. EPA/MOHAMED HOSSAM
Birds fly at sunset in Cairo, Egypt, 09 March 2025. EPA/MOHAMED HOSSAM
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Egypt's Headline Inflation Almost Halves in February

Birds fly at sunset in Cairo, Egypt, 09 March 2025. EPA/MOHAMED HOSSAM
Birds fly at sunset in Cairo, Egypt, 09 March 2025. EPA/MOHAMED HOSSAM

Egypt's annual urban consumer price inflation plunged to 12.8% in February from 24.0% in January, decelerating even faster than analysts had expected, official data showed on Monday.
The drop was amplified by a statistical base effect, as exceptionally fast price increases of the past two years were no longer reflected in the statistics, analysts said.
Fifteen analysts polled by Reuters last week had expected inflation to cool to a median 14.5%.
Month on month, prices were 1.4% higher in February than in January.
Food and beverage prices were up by an annual 3.7% after rising 0.2% from January.
Core inflation also plunged more than expected to 10% on year-on-year basis in February, from 22.6% in January, the central bank said.
Inflation climbed following the Russian invasion of Ukraine in early 2022, which prompted foreign investors to withdraw billions of dollars from Egyptian treasury markets. Headline inflation reached a record high of 38.0% in September 2023.
The price rises were fueled in part by rapid growth in the money supply. M2 money supply expanded by an all-time high of 32.1% in the year to end-January, central bank data showed.
Egypt devalued its currency a year ago, raised interest rates by 600 basis points and signed an $8 billion financial support package with the International Monetary Fund, helping to bring its finances under control.