Saudi Arabia and China Explore Promising Tourism Opportunities

Tourism Minister Ahmed Al-Khateeb met with a number of Chinese investors in Beijing (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb met with a number of Chinese investors in Beijing (Asharq Al-Awsat)
TT

Saudi Arabia and China Explore Promising Tourism Opportunities

Tourism Minister Ahmed Al-Khateeb met with a number of Chinese investors in Beijing (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb met with a number of Chinese investors in Beijing (Asharq Al-Awsat)

Saudi Tourism Minister Ahmed Al-Khateeb met with the Chinese Tourism Association to explore investment opportunities and means to strengthen bilateral ties in the sector. Al-Khateeb also discussed with several investors in Beijing investment prospects in the Kingdom’s tourism industry.

On Thursday, Al-Khateeb launched a global promotional campaign in Beijing, inaugurating the Saudi Travel Expo at the renowned Tian Tan Park, which will run until Oct. 26.

The Saudi delegation, led by Al-Khateeb, included top officials and key partners from the Saudi tourism ecosystem, aiming to elevate Saudi Arabia’s global presence and demonstrate its readiness to welcome Chinese tourists. The delegation held multiple bilateral meetings with China’s Civil Aviation Authority, the Chinese Tourism Association, airlines, and representatives from major companies like Trip.com, Tuniu, Alibaba, Huawei, and Klook.

Several Memorandums of Understanding (MoUs) were signed with prominent Chinese companies, including H World Group and Jin Jiang Group. Al-Khateeb emphasized that this global campaign is part of Saudi Arabia’s efforts to foster closer collaboration with China through strategic partnerships aimed at developing the tourism sectors in both countries. He expressed enthusiasm about welcoming Chinese tourists, particularly following Saudi Arabia’s designation as an official key destination for Chinese travelers.

Fahd Hamidaddin, CEO and board member of the Saudi Tourism Authority, stressed that China is one of the most important international markets for Saudi Arabia. He highlighted the growing interest among Chinese tourists in experiencing the country’s unique and inspiring travel offerings.

The Saudi Travel Expo features interactive exhibits showcasing the beauty of key Saudi destinations such as Diriyah, AlUla, and Al-Baha. Visitors can enjoy photo opportunities against backdrops of famous Saudi landmarks and witness live demonstrations of traditional crafts like sadu weaving, as well as local musical performances. Saudi tourism partners are also offering special travel packages to major destinations like Jeddah, Neom, and the Red Sea, along with the chance to participate in world-class events such as Riyadh Season and MDL Beast.



WTO Chief Economist Views Geopolitical Tensions as Main Risk to Int'l Trade

Ships and containers are seen at a Chinese port. Reuters file photo
Ships and containers are seen at a Chinese port. Reuters file photo
TT

WTO Chief Economist Views Geopolitical Tensions as Main Risk to Int'l Trade

Ships and containers are seen at a Chinese port. Reuters file photo
Ships and containers are seen at a Chinese port. Reuters file photo

Geopolitical tensions, notably those in the Middle East, remain the main risk to international trade, World Trade Organization (WTO) Chief Economist Ralph Ossa has said.

Escalating Middle East tensions could lead to supply shortages and a resulting spike in oil prices, Ossa told Xinhua news agency. "Increased oil prices would then affect macroeconomic activity and also international trade."

In a report released in early October, the WTO projected global merchandise trade volume to grow by 2.7 percent in 2024, a slight increase from its April forecast of 2.6 percent.

One significant update in the new report is the regional outlook. "We see Asia doing stronger than we had expected ... Europe was doing weaker than we had expected," said Ossa, adding that "Asia continues to be the main driver of international trade, both on the import side and the export side."

Meanwhile, exports in Asia are expected to grow by 7.4 percent in 2024 compared with a 4.3 percent rise in imports, he said.

"We were expecting a recovery of trade in April, and continue to expect a recovery of trade today, (which) is in large part due to the normalization of inflation and the corresponding easing of monetary policy," Ossa said.

China showed a strong performance on the export side, and the recent stimulus policy carried out by the Chinese government could prop up domestic demand in China and help rebalance international trade, he said.

In order to tackle multiple challenges, Ossa called for defending the multilateral trade system with the WTO at its core, adding that it is also important to make the WTO fit for the 21st century.

Speaking on the impact of artificial intelligence, Ossa highlighted AI's potential to reduce trade costs, overcome language barriers, and expand digitally delivered services.