Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
TT
20

Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)

Officials from the International Monetary Fund, World Bank and key countries met with Syrian authorities this week on efforts to rebuild the war-torn country, emphasizing the need for credible data, IMF Managing Director Kristalina Georgieva said on Friday.

Georgieva said rebuilding Syria's central bank and expanding the country's capacity to generate revenue were other key issues addressed during the meeting that took place during the spring meetings of the IMF and World Bank.

Saudi Arabia's Finance Minister Mohammed Al-Jadaan, who chairs the International Monetary and Financial Committee, said he was grateful to the IMF and World Bank for stepping up support for Syria, noting others including Yemen, Palestine and Lebanon would also need help.



Hilton to Quadruple Its Presence in Saudi Arabia amid Tourism Surge

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
TT
20

Hilton to Quadruple Its Presence in Saudi Arabia amid Tourism Surge

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 

Hilton, one of the world’s leading hotel groups, has announced plans to significantly expand its footprint in Saudi Arabia, aiming to reach 100 hotels by the end of 2025. This marks a fourfold increase from its current presence and would make the Kingdom Hilton’s largest market across Europe, the Middle East, and Africa.

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa, revealed that the group currently operates 20 hotels in Saudi Arabia with around 6,500 rooms. An additional 77 hotels are under development across 14 Hilton brands, expected to add over 21,000 rooms over the coming years.

Khneisser noted that two-thirds of these developments are already under construction. He emphasized that Hilton’s growth strategy is closely aligned with Saudi Arabia’s Vision 2030, which aims to diversify the economy and attract 150 million visitors annually by the end of the decade.

Saudi Arabia has already surpassed its previous goal of 100 million visitors, originally set for 2030. Khneisser attributed this success to major tourism projects like The Red Sea and Rua Al Madinah, as well as global events such as Riyadh Season and Formula 1. Religious tourism, entertainment, and business travel are all contributing to strong hotel demand.

According to Khneisser, Hilton recently launched its midscale brand “Spark by Hilton” in Makkah, offering 329 rooms near the holy sites. Other upcoming projects include three resorts in Al-Ahsa, a Waldorf Astoria in Diriyah, and openings in Medina and Riyadh’s “The Avenues” complex. These developments are expected to create over 15,000 jobs, with half reserved for Saudi nationals. Current Saudization rates at Hilton properties exceed 55%.

He added that the company is also prioritizing training and hiring local talent through partnerships with institutions like Bunyan Academy, ZADK, and the Human Resources Development Fund. More than 55 people with disabilities have been employed across Hilton hotels in cooperation with the Ministry of Human Resources.

Sustainability and digital innovation are also key areas of focus. Hilton has reduced energy use in its Saudi properties by 42% and water consumption by 64%. Digital check-in and room key technologies are now in place at over 90% of its hotels, with AI tools being used to enhance guest experience in real time.

Khneisser concluded by highlighting Saudi Arabia’s growing reputation as a global destination for major conferences and events, saying the Kingdom led regional hotel revenue growth in early 2025.