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Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
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Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)

Officials and investors in the airport industry developed innovative strategies to facilitate the traveler’s experience, during the Airports Council International (ACI) Asia-Pacific & Middle East / ACI World Annual General Assembly, Conference and Exhibition (WAGA 2024), which kicked off in Riyadh on Wednesday.

The three-day event, hosted by Riyadh Airports, features the participation of aviation leaders, airport CEOs, and over 800 specialists from across the globe. This is the first time WAGA is being held in the Middle East, underscoring Saudi Arabia’s pivotal role in airport management and aviation.

The head of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, said on the occasion that Saudi Arabia is anticipating the future of aviation through its endeavor to host major events related to the industry, and is implementing a clear vision to lead the Middle East region at the level of logistical services.

He added that the Airports Council International conference represents a tremendous opportunity for the system in Saudi Arabia, by providing a basic foundation for benefiting from industry leaders and keeping pace with the latest developments in the field of aviation locally and globally.

For his part, the CEO of Riyadh Airports, Ayman Abo Abah, announced that his company is working with the relevant authorities to promote the reliance on clean energy sources, pointing in this context to progress achieved at King Khalid International Airport.

Riyadh Airports was established in 2016 as part of the sector privatization program. The company manages and operates King Khalid International Airport in Riyadh, and seeks to develop the airport’s infrastructure and conduct expansion projects for new services and facilities.

Abo Abah explained that King Khalid International Airport has received the global accreditation certificate for managing carbon emissions for airports (level three) from the Airport Carbon Emissions Management Accreditation Program (ACA), making it the first airport in the Kingdom and the Middle East to obtain this certificate.

This confirms the implementation of the necessary standards and practices to reduce emissions and launch green initiatives that support this trend, he underlined.

Riyadh Airports’ hosting of WAGA 2024 coincides with the third edition of the Future Aviation Forum (FAF 2024), organized by GACA.

Wednesday’s sessions addressed the current state of the industry and the system’s future trends, emphasizing the importance of taking into account environmental sustainability and working to remove carbon in new, innovative ways.

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US Service Sector Sags in June as Orders Sink

The ISM reported on Monday that manufacturing activity had deteriorated further in June.- Reuters
The ISM reported on Monday that manufacturing activity had deteriorated further in June.- Reuters
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US Service Sector Sags in June as Orders Sink

The ISM reported on Monday that manufacturing activity had deteriorated further in June.- Reuters
The ISM reported on Monday that manufacturing activity had deteriorated further in June.- Reuters

A measure of US services sector activity slumped to a four-year low in June amid a sharp drop in orders, potentially hinting at a loss of momentum in the economy at the end of the second quarter.

The Institute for Supply Management said its nonmanufacturing purchasing managers (PMI) index dropped to 48.8 last month, the lowest level since May 2020, from 53.8 in May. It was the second time this year that the PMI had dropped below 50, which indicates contraction in the services sector.

Economists polled by Reuters had forecast the services PMI slipping to 52.5. The PMI fell below the 49 level that the ISM says over time generally indicates an expansion of the overall economy. The survey's business activity measure dropped to 49.6, the first contraction since May 2020, from 61.2 in May.

The ISM reported on Monday that manufacturing activity had deteriorated further in June.

The surveys, however, likely understate the economy's health, with so-called hard data like consumer spending suggesting a moderate pace of growth last quarter. The economy is adjusting to higher interest rates, which are slowing demand.

Growth estimates for the second quarter are around a 2% annualized rate. The economy grew at a 1.4% pace in the January-March quarter.

The survey's new orders measure dropped to 47.3, the lowest since December 2022, from 54.1 in May. Services employment continued to decline. That would suggest softer job growth in the months ahead, though the sentiment surveys have not been reliable predictors of payroll gains.

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The government's closely watched employment report on Friday is likely to show nonfarm payrolls increased by 190,000 jobs in June after rising 272,000 in May, according to a Reuters survey of economists. The unemployment rate is forecast unchanged at 4%.

Services inflation slowed a bit last month. The ISM's prices paid measure for services inputs slipped to 56.3 from 58.1 in May. That suggests the disinflation trend was back on track after price pressures flared up in the first quarter.