Minister: French Hotels, Restaurants, Museums Boosted by Olympics

Spectators take home Olympic signage as the route for the women's marathon is broken down following its conclusion at the 2024 Summer Olympics, Sunday, Aug. 11, 2024, in Paris, France. (AP Photo/David Goldman)
Spectators take home Olympic signage as the route for the women's marathon is broken down following its conclusion at the 2024 Summer Olympics, Sunday, Aug. 11, 2024, in Paris, France. (AP Photo/David Goldman)
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Minister: French Hotels, Restaurants, Museums Boosted by Olympics

Spectators take home Olympic signage as the route for the women's marathon is broken down following its conclusion at the 2024 Summer Olympics, Sunday, Aug. 11, 2024, in Paris, France. (AP Photo/David Goldman)
Spectators take home Olympic signage as the route for the women's marathon is broken down following its conclusion at the 2024 Summer Olympics, Sunday, Aug. 11, 2024, in Paris, France. (AP Photo/David Goldman)

The Paris Olympics, which draws to a close on Sunday, has given a much-needed boost to the French economy thanks to business from greater numbers of visitors generated for hotels, restaurants and museums, France's tourism minister said.

The euro zone's second-largest economy has been banking on the Games to bolster its tepid economic growth, with its statistics office predicting a 0.3 percentage point boost from ticket and TV rights sales and from more tourism.

Tourism Minister Olivia Gregoire told French paper La Tribune Dimanche in an interview published on Sunday that the number of people staying at hotels in French cities hosting Olympic events had risen 16% year-on-year.

She said that the number of people visiting Paris museums and spending money in the capital's restaurants and bars had also gone up 25% on average.

US bank card and financial transactions firm Visa - one of the Olympics' corporate sponsors - also said earlier this month that its card transactions data showed small businesses in Paris benefiting from increased sales.

On Friday, the Bank of France also said that the nation's economy was on course to grow at least 0.35% in the third quarter helped by a temporary boost from activity related to the Olympic Games.



Space Tourism Boosts Investments in Innovative Sectors, Advanced Technology in Saudi Arabia

HALO Space is set to launch its sixth space tourism test flight from Saudi Arabia in September. (HALO Space)
HALO Space is set to launch its sixth space tourism test flight from Saudi Arabia in September. (HALO Space)
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Space Tourism Boosts Investments in Innovative Sectors, Advanced Technology in Saudi Arabia

HALO Space is set to launch its sixth space tourism test flight from Saudi Arabia in September. (HALO Space)
HALO Space is set to launch its sixth space tourism test flight from Saudi Arabia in September. (HALO Space)

HALO Space, a Spanish startup in space tourism, is set to launch its sixth space tourism test flight from Saudi Arabia in September.

The announcement underscores the efforts the Saudi Arabia’s Communications, Space and Technology Commission (CST) and General Authority of Civil Aviation (GACA) have been making to demonstrate the Kingdom’s pioneering role in space tourism.

CEO of Halo Space Carlos Mira told Asharq Al-Awsat that the company is committed to supporting Saudi Arabia’s Vision 2030 by accelerating efforts to support space tourism through its strategic partnerships with Saudi agencies.

He noted that the company has also set up an operational base in the Kingdom where it offers direct and close support to the transformation of all economic sectors.

Mira predicted a 700 percent rise in global space tourism trips in the first five years, reflecting HALO Space’s commitment to making space within everyone’s reach. It will also propel Saudi Arabia towards playing a more pioneering role in space exploration and pushing forward its innovation and economic diversification.

He underlined the close cooperation between the public and private sectors in adopting safety standards and protection measures, which are the foundations of the success of the mission.

The cooperation between the CST and GACA embodies HALO Space’s commitment to providing a safe flight in the near future, he added.

Managing Partner at Arthur D. Little Middle East and India and HALO Space board member Thomas Kuruvilla underscored the space tourism partnership with Saudi Arabia.

He told Asharq Al-Awsat that HALO Space’s innovation is part of the Arthur D. Little company and in cooperation with relevant government agencies and aims to bolster Saudi Arabia’s pioneering role in space tourism.

Saudi Arabia’s readiness to become a launch base for HALO Space in the Middle East will lead to more investments in innovative sectors and advanced technologies, he went on to say.

This includes space exploration and tourism, he explained.

Saudi Arabia is set to go down in history for becoming one of the first countries in the world to launch a space tourism flight, he stressed.

The flight in September is a very significant step and it is also in line with Vision 2030, he stated.

This upcoming test flight will feature HALO Space's real-size prototype capsule, Aurora, which will ascend to 30 kilometers above the Earth's surface. The primary objective of this mission is to rigorously validate the integrated operation of all critical systems developed over the past three years, said the company in a statement.

Alberto Castrillo, Chief Technology Officer of HALO Space, stated: "This mission is designed to meticulously validate all our critical systems we’ve been developing for the past three years. The dates and location were set to ensure the reliable operation of our equipment and safe conditions for the teams that will be on the ground operating the flight."

CST has been working with and supporting HALO Space since the beginning of the year, overseeing preparations for the test flight, which is set against the backdrop of Saudi Vision 2030.

HALO Space's decision to establish its flagship operational base and final assembly site in Saudi Arabia underscores the Kingdom's ideal conditions for space exploration activities and support for innovative business models.

As this visionary plan aims to transform the Kingdom into a global hub for technological innovation and economic diversification, CST has also been collaborating with other government entities such as GACA, to meet all regulatory requirements for the test flight, emphasizing the commitment to the safety of both personnel and materials involved in this ground-breaking test.

Frank Salzgeber, Acting Deputy Governor for Space Sector at CST, highlighted the significance of this collaboration, stating: "Along with its regulatory mandate, CST is also undertaking an enabling role within the civil space sector, through fostering innovative business models, promoting space exploration activities, and supporting joint efforts with relevant authorities to develop space sector.”

“This innovative project represents a significant step forward in space tourism, and in support of such technological advancements and investment opportunities in Saudi Arabia, CST is always committed to providing regulatory frameworks that foster innovation among companies and projects like HALO Space while ensuring the safety of personnel and materials,” he added.