Saudi Tourism Forum 2025 Kicks Off in Riyadh with Over 100 Participants

The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
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Saudi Tourism Forum 2025 Kicks Off in Riyadh with Over 100 Participants

The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)
The Saudi Tourism Forum 2025 kicked off on Tuesday in Riyadh. (Asharq Al-Awsat)

Riyadh is hosting the third edition of the Saudi Tourism Forum 2025, featuring participation from over 100 organizations. The forum provides a comprehensive platform to showcase the latest advancements in the tourism sector, highlight investment opportunities, develop skills, and establish new partnerships to accelerate tourism growth in the Kingdom.

Taking place from January 7 to 9, the event is organized in collaboration with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund.

Mohammed Basrawi, Chief Domestic Tourism Officer at the Saudi Tourism Authority, emphasized in his opening remarks the sector’s continuous growth and record-breaking achievements, driven by innovative products and services.

“In 2023, we celebrated welcoming 100 million visitors to the Kingdom, a milestone that reflects the ambitions of Vision 2030 and the support of our wise leadership,” he said.

Basrawi highlighted the success of the previous forum, which attracted over 28,000 visitors from 100 entities, facilitated the signing of 62 agreements, including nine with the Saudi Tourism Authority, and led to the launch of more than 20 new initiatives and products.

This year’s forum will feature additional partnerships, commercial opportunities, and international and local promotional campaigns to further establish Saudi Arabia as a leading global tourism destination, he added.

Khalid Al-Shareef, spokesperson for the Tourism Development Fund, shared insights with Asharq Al-Awsat on the forum’s sidelines, stating that the fund is overseeing more than 135 qualified projects across the Kingdom, with a total investment exceeding SAR 40 billion ($10.7 billion). These include the development of over 8,800 hotel rooms in cities such as Abha, Al-Baha, Taif, AlUla, and Madinah, extending tourism projects beyond major hubs like Riyadh, Jeddah, and the Eastern Province.

Al-Shareef identified the Asir region as a key area of focus due to its diverse geography, attracting both domestic and international tourists, particularly in the summer. He noted that the southern region hosts 15 projects worth SAR 2.6 billion and emphasized the importance of sustained support from both the Public Investment Fund and private sector companies.

Since its inception, the forum has achieved significant milestones, spotlighting Saudi Arabia’s rich cultural heritage and unique tourism offerings while advancing the shared vision of developing this vital sector.

The event features a diverse program of seminars and workshops on the latest tourism trends and developments, enabling participants to engage with industry leaders, policymakers, and experts while enhancing the skills of professionals in the sector.



Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices rose to a near four-week high on Thursday, supported by safe-haven demand, while investors weighed how US President-elect Donald Trump's policies would impact the economy and inflation.

Spot gold inched up 0.4% to $2,672.18 per ounce, as of 0918 a.m. ET (1418 GMT). US gold futures rose 0.7% to $2,691.80.

"Safe-haven demand is modestly supporting gold, offsetting downside pressure coming from a stronger dollar and higher rates," UBS analyst Giovanni Staunovo said.

The dollar index hovered near a one-week high, making gold less appealing for holders of other currencies, while the benchmark 10-year Treasury yield stayed near eight-month peaks, Reuters reported.

"Market uncertainty is likely to persist with the upcoming inauguration of Donald Trump as the next US president," Staunovo said.

Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.

Trump will take office on Jan. 20 and his proposed tariffs could potentially ignite trade wars and inflation. In such a scenario, gold, considered a hedge against inflation, is likely to perform well.

Investors' focus now shifts to Friday's US nonfarm payrolls due at 08:30 a.m. ET for further clarity on the Federal Reserve's interest rate path.

Non-farm payrolls likely rose by 160,000 jobs in December after surging by 227,000 in November, a Reuters survey showed.

Gold hit a near four-week high on Wednesday after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.

However, minutes of the Fed's December policy meeting showed officials' concern that Trump's proposed tariffs and immigration policies may prolong the fight against rising prices.

High rates reduce the non-yielding asset's appeal.

The World Gold Council on Wednesday said physically-backed gold exchange-traded funds registered their first inflow in four years.

Spot silver rose 0.7% to $30.32 per ounce, platinum fell 0.8% to $948.55 and palladium shed 1.4% to $915.75.