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NEOM Targets 1 Million People, 5 Million Tourists by 2030

NEOM CEO Nadhmi al-Nasr addressing diplomats (Asharq Al-Awsat)
NEOM CEO Nadhmi al-Nasr addressing diplomats (Asharq Al-Awsat)
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NEOM Targets 1 Million People, 5 Million Tourists by 2030

NEOM CEO Nadhmi al-Nasr addressing diplomats (Asharq Al-Awsat)
NEOM CEO Nadhmi al-Nasr addressing diplomats (Asharq Al-Awsat)

The second phase strategy of NEOM will be complete by the end of 2019, with the project targeting 1 million people and 5 million visitors by 2030, announced NEOM CEO Nadhmi al-Nasr.

Speaking to over 160 diplomats who attended NEOM’s first ever beach sports events, Nasr stated that the first phase of NEOM’s construction is now complete and phase 2 strategy has started.

“We started Phase 2’s strategy, and we will finish that by the end of 2019, which means by the end of the year we will share with the world what NEOM is going to be,” the CEO added. 

He explained that one of NEOM's business objectives is to be the home for new technologies that will affect the next wave of industrialization, adding that to launch this development, NEOM plans to fund technical development and partner with international technical firms.

The second phase of the strategy will include the announcement of the details of the 16 economic sectors covered and the areas of NEOM.

Tourism is one of its 16 economic sectors, and that is why NEOM plans to be a major destination for visitors and tourists through the development of island and mountain resorts.

Nasr admitted that attracting such a huge number of visitors is a challenge, with some even saying “this is a long shot, but our business is to only address long shots.” 

He told the attendees that NEOM is strategically situated in a location accessible by 70 percent of the global population within eight hours, as Rome can be reachable by air in around three hours, while London is five hours away.

Nasr said that NEOM is in talks with many international investors even at this initial stage of the project, noting that the search for partnership opportunities with many trading partners in the world is still underway.

He concluded: “We started NEOM but we aren’t going to finish. There is no end to NEOM.”

In his address, he invited the diplomats to be part of NEOM. “We want you to think that one day you could be living in NEOM, working and retiring in NEOM, and of course, we don’t mind you investing in NEOM.”

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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)

Kazakh Ambassador to Saudi Arabia, Madiyar Menilbekov, announced that his country eagerly anticipates the completion of ACWA Power’s first wind energy project in the Zhetysu region. This project, led by the Saudi company, will have a total capacity of 1 gigawatt and an investment value of approximately $1.5 billion.
ACWA Power announced last March that it would execute this project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. Construction is expected to commence in the summer of 2025.
Menilbekov told Asharq Al-Awsat that both countries “have established a solid political dialogue at a high level, along with cooperation in trade, economics, culture, and parliamentary exchange.” He expects this high-level dialogue to continue at the upcoming COP 16 summit in Riyadh.
He further emphasized that trade, economic, and investment cooperation is the cornerstone of the bilateral relationship, noting: “Both countries share a similar outlook on economic development, reflected in Kazakhstan’s Strategic Program 2050 and Saudi Arabia’s Vision 2030.”
The Kazakh ambassador highlighted that last September, the Islamic Development Bank approved financing for projects in Kazakhstan focused on water resource development, enhancing agricultural productivity, and ensuring food security, with total allocations amounting to $1.153 billion.
In tourism, he noted significant progress toward establishing direct flights between the two countries. Air Astana launched flights between Shymkent and Jeddah in October and announced a route from Almaty to Medina, bringing the total to six direct flights. Additionally, Kazakh companies in construction, oil services, and IT have recently opened offices across Saudi Arabia. The Farabi Innovation Center was inaugurated in Riyadh to attract talented entrepreneurs and innovative startups from Nur-Sultan and Central Asia to the Kingdom.
Menilbekov explained that since gaining independence, Kazakhstan’s GDP has grown 17-fold, with foreign trade reaching $139.8 billion last year. He added: “Since 1993, Kazakhstan has attracted a total of $441 billion in foreign direct investment, allowing our economy to remain one of the most dynamic in Central Asia and the post-Soviet region.”
According to Menilbekov, Kazakhstan is the world’s largest producer and exporter of natural uranium, responsible for more than 45% of global production and exports. He also noted that Kazakhstan produces 18 of the 34 raw materials identified by the European Union as “critical materials.”
Menilbekov further mentioned that Kazakhstan possesses 200 million hectares of agricultural land, with about 100 million hectares currently under regular cultivation.