Samer Al-Kharashi to Asharq Al-Awsat: Saudi Arabia Making Progress in Green Investments

Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East.
Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East.
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Samer Al-Kharashi to Asharq Al-Awsat: Saudi Arabia Making Progress in Green Investments

Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East.
Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East.

Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East, highlighted Saudi Arabia’s role in advancing the tourism ecosystem in the region and promoting sustainable development in the sector.

In an interview with Asharq Al-Awsat, he stressed that the Kingdom’s hosting of the regional office reflects its commitment to making tourism a key driver of economic growth in the Middle East.

Al-Kharashi noted that the Arab Gulf and the Middle East saw the largest relative increase in international tourist arrivals, surpassing pre-pandemic levels by 36% during the first quarter of 2024. This includes a 4% increase compared to the same period in 2023, making the region the global leader in tourism recovery.

In the interview, the official emphasized that Saudi Arabia’s mega-projects are pivotal to Vision 2030, which aims to diversify the economy and position the Kingdom as a premier global tourist destination. He added that these projects align closely with the UN’s Sustainable Development Goals 2030, focusing on sustainable tourism, economic growth, and preserving cultural heritage.

Al-Kharashi acknowledged Saudi Arabia’s substantial progress in sustainable tourism development, citing the UNWTO’s report on tourism and the Sustainable Development Goals. He commended Riyadh’s efforts in promoting viable initiatives that benefit both people and the environment.

Since its launch in Riyadh in May 2021, the UNWTO’s Middle East office has become a key contributor to the region’s tourism growth, he noted. Its primary focus has been on capacity building, enhancing competitiveness, and fostering public-private partnerships to support tourism-driven regional development. The office also works to integrate tourism into public policy and promote rural destinations, he underlined.

On a technical level, the office supports advanced capacity-building initiatives, skill development, and the promotion of sustainable tourism practices, Al-Kharashi said, adding that it aims to create a more robust and competitive tourism sector in the Middle East, ensuring long-term, sustainable growth.

Asked about the tourism sector’s performance in the Middle East in terms of numbers, the official replied that the Middle East has made significant progress in tourism development.

According to the UNWTO Tourism Barometer, the region recorded a 36% increase in international arrivals compared to pre-pandemic levels during the first quarter of 2024, he stated. This follows a strong performance in 2023, when the region was the first globally to recover fully, with a 22% increase in tourist arrivals compared to pre-pandemic levels.

Al-Kharashi emphasized that tourism is a vital part of the global labor market, providing jobs for 1 in 10 people worldwide.

“As an international organization with 160 member countries, the UNWTO is dedicated to promoting sustainable development in the tourism sector. Our strategic priorities include fostering high-quality employment, nurturing talent, driving technological innovation, and advancing sustainability and climate action,” he told Asharq Al-Awsat.

Al-Kharashi further explained that the UNWTO promotes sustainable tourism and green investments in the region through a variety of initiatives.

The Organization focuses on three key investment areas: human capital development through education and skills training, environmental sustainability through green infrastructure investments, and economic growth through innovation and entrepreneurship, he stressed.

These initiatives align with Saudi Arabia’s Green Saudi and Green Middle East programs, he remarked.

Additionally, the UNWTO has launched a Sustainable Development Goals (SDGs) Tourism Platform, which offers resources and expert knowledge on sustainable tourism practices, Al-Kharashi said, adding that the Organization is also committed to promoting green investments through events such as World Tourism Day 2023, which showcased opportunities for sustainable tourism development.

Discussing the current state of green investments in the Middle East’s tourism sector, particularly in Saudi Arabia, Al-Kharashi stressed that green investments are increasingly central to tourism development in the region. The UNWTO has developed investment guidelines that encourage sustainable tourism investments, including in Jordan, where foreign direct investment rose by 83% in 2022, reaching $1.1 billion.

Furthermore, he added that Saudi Arabia has made significant strides in sustainable tourism, citing the UNWTO’s report, which highlights the Kingdom’s efforts under SDG 15 (Life on Land), such as reforestation projects to combat desertification and drought.

Al-Kharashi went on to say that the UNWTO’s regional office in Saudi Arabia plays a crucial role in shaping the future of tourism in the Middle East.

“By fostering close collaboration between public and private sectors, the office is helping to build a dynamic and competitive tourism environment. With over 13 affiliated members from Saudi Arabia, including representatives from hospitality, education, and travel, the office is boosting tourism capacity and development across the region,” he stated.

He continued that the office also supports initiatives such as the Tourism Tech Mentorship Program in Al-Ula, aimed at cultivating a new generation of tourism leaders. This strategy ensures that the region remains competitive, while also contributing to long-term economic and social development.

According to Al-Kharashi, Saudi Arabia’s decision to host the UNWTO’s first regional office demonstrates the Kingdom’s commitment to diversifying its economy and positioning the Middle East as a leading global tourism destination. The office supports the 13 member countries of the region and strengthens collaboration with 45 affiliated members from the region.

“By promoting tourism education, skill development, and rural tourism, the regional office plays a vital role in advancing the tourism sector across the Middle East,” he remarked.

Asked about the UNWTO’s view of Saudi Arabia’s recent tourism developments, he UN official said that the Organization regards Saudi Arabia’s tourism development as highly promising, especially with the Kingdom’s ambitious goal of attracting 150 million visitors annually by 2030.

To meet this target, it will be essential to bolster the sector’s capabilities through education, training, and skill development, he stated, adding that the recent agreement between the UNWTO and Saudi Arabia includes the establishment of a “Jobs Factory” and a “Tourism Labor Market Observatory,” both designed to boost capacity and assess workforce skills.

Additionally, the UNWTO has recognized two Saudi destinations - Rijal Alma and AlUla - in its “Best Tourism Villages” competition, underscoring the Kingdom’s commitment to preserving cultural and natural heritage, he told Asharq Al-Awsat.

Al-Kharashi noted that Saudi Arabia’s mega-projects, such as NEOM, the Red Sea Project, Qiddiya, and AlUla, represent a major transformation for both the region and the global tourism landscape. He explained that these projects, part of Vision 2030, are designed to diversify the Kingdom’s economy and establish it as a world-class tourist destination.

With successful bids for the 2034 FIFA World Cup and Expo 2030, alongside ambitious projects that include futuristic cities, entertainment hubs, and heritage sites, Saudi Arabia is on track to become a major player in the global tourism industry, the official said. These projects will set new benchmarks for sustainable and innovative tourism practices, enhancing the Middle East’s reputation as a leading destination for visitors worldwide.



US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
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US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid

Wall Street stocks retreated early Thursday as worries over US-Iran tensions lifted oil prices while markets digested mixed results from Walmart.

US oil futures rose to a six-month high as Iran's atomic energy chief Mohammad Eslami said no country can deprive the Islamic republic of its right to nuclear enrichment, after US President Donald Trump again hinted at military action following talks in Geneva.

"We'd call this an undercurrent of concern that is bubbling up in oil prices," Briefing.com analyst Patrick O'Hare said of the "geopolitical angst."

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 49,379.46, AFP reported.

The broad-based S&P 500 fell 0.5 percent to 6,849.35, while the tech-rich Nasdaq Composite Index declined 0.6 percent to 22,621.38.

Among individual companies, Walmart rose 1.7 percent after reporting solid results but offering forecasts that missed analyst expectations.

Shares of the retail giant initially fell, but pushed higher after Walmart executives talked up artificial intelligence investments on a conference call with analysts.

The US trade deficit in goods expanded to a new record in 2025, government data showed, despite sweeping tariffs that Trump imposed during his first year back in the White House.


Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
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Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold prices extended gains on Thursday after rising more than 2% in the previous session, as lingering tensions between the United States and Iran prompted a flight to safety, while investors evaluated the Federal Reserve's monetary policy path.

Spot gold rose 0.2% to $4,989.09 per ounce by 1227 GMT. US gold futures for April delivery held steady at $5,008.60.

"Geopolitical concerns are front and centre with reports that, if the US were to take military action against Iran, it could go on for several weeks," said Jamie Dutta, market analyst at Nemo.money, Reuters reported.

Some progress was made during Iran talks this week in Geneva but distance remained on some issues, the White House said on Wednesday.

FED LARGELY UNITED

Top US national security advisers met in the White House Situation Room on Wednesday to discuss Iran and were told all US military forces deployed to the region should be in place by mid-March.

Meanwhile, the Fed's January minutes showed it largely united on holding interest rates steady, but divided over what comes next, with "several" open to rate hikes if inflation remains elevated, while others were inclined to support further cuts if inflation recedes.

The weekly jobless claims data, due later in the day, and Friday's Personal Consumption Expenditures report, the Fed’s preferred inflation gauge, will provide further clues on the central bank's policy trajectory.

Markets currently expect this year's first interest rate cut to be in June, according to CME's FedWatch Tool.

Non-yielding bullion tends to do well in low-interest-rate environments.

Spot silver rose 0.9% to $77.87 per ounce after climbing more than 5% on Wednesday.

Silver is "supported by tight supply and low COMEX stock levels ahead of the delivery period of the March contract. However, given the extent of the historic correction earlier this month, silver is not back on safer ground until it trades back above $86," said Ole Hansen, head of commodity strategy at Saxo Bank.

Spot platinum fell 0.6% to $2,059.55 per ounce, while palladium lost 1.7% to $1,686.47.


Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.