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.



DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
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DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)

The Debt Markets and Financial Derivatives Forum (DMDF 2024), set to launch on Sunday in Riyadh, will focus on key principles aimed at exploring the dynamics of the Saudi financial market.
Organized by the Financial Academy, the forum will be held under the patronage of Mohammed El-Kuwaiz, Chairman of the Capital Market Authority and the Board of Trustees of the Financial Academy, with the participation of industry leaders, experts, and specialists from the financial securities sector.
The forum will examine emerging trends and insights from experts and CEOs in the financial sector, contributing to the mission of the Financial Academy, which aims to leverage its resources to provide high-level specialized services that align with Saudi Arabia’s Vision 2030.
Mana bin Mohammed Al-Khamsan, CEO of the Financial Academy, told Asharq Al-Awsat that the forum comes in parallel with the Kingdom’s ongoing advancements, driven by Vision 2030, which seeks to achieve exceptional results across all areas, particularly the economic sector, a cornerstone of the country’s development.
Key Focus Areas
According to Al-Khamsan, the forum will address several major topics in the financial sector, including strategic partnerships with local and international exchanges, such as collaborations with the Saudi Tadawul Group and the Chicago Mercantile Exchange. It will also include partnerships with renowned international organizations like the CFA Institute and the International Capital Market Association (ICMA).
He added that a central focus will be on the debt and derivatives markets, which are expected to experience significant growth in the near future due to recent legal and regulatory reforms. These markets will play a crucial role in diversifying financing sources and improving liquidity.
The CEO of the Financial Academy also noted that the debt and derivatives markets in Saudi Arabia are experiencing rapid growth, and are expected to play a vital role in expanding funding sources and enhancing liquidity over the next few years.
Additionally, the official anticipated a rise in foreign investments in the Saudi financial market due to an improved regulatory environment and increased confidence among international investors.
Future Outlook
According to Al-Khamsan, the forum will shed light on these transformations through panel discussions and dialogues centered on future trends and challenges facing these markets. It will also present innovative solutions to keep pace with global financial market developments.
The forum aims to deliver measurable outcomes by tracking the impact of the Financial Academy’s initiatives on career development within the sector and fostering the principles of continuous professional training across the Kingdom’s financial industry, he underlined.
Al-Khamsan continued that the forum seeks to raise awareness and facilitate the exchange of expertise on modern financial instruments and risk management, while solidifying Saudi Arabia’s position as a leading investment destination regionally and globally. This will be achieved through collaboration with prestigious local and international entities such as the Saudi Tadawul Group, the Chicago Mercantile Exchange, and the CFA Institute.