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.



NEOM Closes $3 Billion Financing Facilities to Support Development of Its Projects

Oxagon, NEOM's reimagined industrial city on the Red Sea. (NEOM)
Oxagon, NEOM's reimagined industrial city on the Red Sea. (NEOM)
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NEOM Closes $3 Billion Financing Facilities to Support Development of Its Projects

Oxagon, NEOM's reimagined industrial city on the Red Sea. (NEOM)
Oxagon, NEOM's reimagined industrial city on the Red Sea. (NEOM)

NEOM secured on Monday a landmark financing agreement with Italy’s SACE, securing approximately $3 billion under a long-term multicurrency untied facility.

With this move, NEOM aims to support the development of its major projects and regions, according to a statement issued by the company.

The deal marks NEOM's first corporate export credit agency (ECA) financing and the largest untied financing ever guaranteed by SACE.

It will support various projects across NEOM and is backed by a syndicate of nine prominent international banks – HSBC, Banco Bilbao Vizcaya Argentaria, Bank of China, Crédit Agricole CIB, Agricultural Bank of China, Citi, China Construction Bank, J.P. Morgan and Bank of America.

The partnership will enable NEOM to leverage supplies from Italian businesses, particularly SMEs, to support the project’s development across key sectors, such as infrastructure, urban development, construction and transport (rail, road and maritime).

To date, Italian suppliers and contractors have supported NEOM on a range of projects, with contracts worth $6.3 billion, and the deal aims to further strengthen and develop these important international business relationships, NEOM said in a statement.

“NEOM is committed to working with global partners who share our passion for visionary projects and initiatives that will advance human progress,” said NEOM Acting CEO Eng. Aiman Al-Mudaifer.

He said this deal advances the Kingdom's aim of generating capital investment in line with Saudi Vision 2030, with foreign investment being instrumental in diversifying the economy.

“This partnership with SACE and the consortium of leading international banks also creates strong ties with major Italian companies that will enhance international trade and investment flows,” Al-Mudaifer said.

SACE CEO Alessandra Ricci said: “We are glad to play our part alongside NEOM in this cutting-edge project, which generates opportunities in a wide range of sectors for Italian SMEs and supply chains.”

She noted that opening new routes to “Made in Italy” is a priority to allow a long-term growth for Italian exports, matching their potential.

“Our Riyadh office supports Italian companies and their potential partners and counterparties, by providing experience and insurance financial solutions combined with the added value of a physical presence in the area,” Ricci added.

Meanwhile, the SACE untied facility will expand and diversify NEOM’s existing funding pool, supporting its long-term financing requirements as NEOM moves forward in the development of major projects and regions.