Expected Recovery of Accommodation, Support Services Sector in Medinah, Makkah

FILE PHOTO: Pilgrims, keeping a safe social distance, perform Umrah at the Grand Mosque, in the holy city of Makkah, Saudi Arabia, October 4, 2020. (Reuters)
FILE PHOTO: Pilgrims, keeping a safe social distance, perform Umrah at the Grand Mosque, in the holy city of Makkah, Saudi Arabia, October 4, 2020. (Reuters)
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Expected Recovery of Accommodation, Support Services Sector in Medinah, Makkah

FILE PHOTO: Pilgrims, keeping a safe social distance, perform Umrah at the Grand Mosque, in the holy city of Makkah, Saudi Arabia, October 4, 2020. (Reuters)
FILE PHOTO: Pilgrims, keeping a safe social distance, perform Umrah at the Grand Mosque, in the holy city of Makkah, Saudi Arabia, October 4, 2020. (Reuters)

Experts have identified several factors that will contribute to the recovery of the accommodation and support services sector in the two holy cities of Makkah and Madinah with the coming month of Ramadan.

The operation of the Haramain Train is among the main factors that will contribute to the revitalization of travel to and from the two cities, in addition to the rapid vaccination campaign, with more than 3 million people inoculated so far, according to recent figures published by the Saudi Health Ministry.

Hotels in Makkah and Madinah constitute 75 percent of the total hotels operating in Saudi Arabia, with 1,151 licensed hotels in Makkah having around 450,000 rooms, and about 75,000 rooms in Madinah. These businesses are greatly relied on to revive other economic sectors, especially in light of the recession that was caused by the total and partial lockdown in the Kingdom.

According to experts, transportation, restaurants, and retail outlets will see some improvement in the two cities during the holy month of Ramadan, as occupancy rates are expected to increase and reach their peak in the last ten days of the month.

This optimism comes a few days after the Saudi government presented a package of initiatives to support investors and economic establishments operating in the Hajj and Umrah sector.
Economic Expert Marwan Al-Sharif noted that the operation of the Haramain train would constitute an important factor in reviving the economy in the two cities, with the increase in the number of pilgrims.

He also pointed to the importance of precautionary measures that the train administration would take to ensure the safety of passengers and to prevent the spread of the virus.



China Autos Group 'Strongly Dissatisfied' with EU Anti-subsidy Tariffs

Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. REUTERS/Jason Lee//File Photo Purchase Licensing Rights
Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. REUTERS/Jason Lee//File Photo Purchase Licensing Rights
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China Autos Group 'Strongly Dissatisfied' with EU Anti-subsidy Tariffs

Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. REUTERS/Jason Lee//File Photo Purchase Licensing Rights
Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. REUTERS/Jason Lee//File Photo Purchase Licensing Rights

The China Association of Automobile Manufacturers (CAAM) is "strongly dissatisfied" with anti-subsidy tariffs proposed by the European Union, the industry group said in a statement on Saturday.

Manufacturers had cooperated with the European Commission's investigation into Chinese subsidies, but the inquiry had ignored the facts and preselected results, CAAM said in a post on the Chinese messaging app WeChat, Reuters reported.

The EU imposed tariffs of up to 37.6% on imports of electric vehicles made in China from Friday, with a four-month window during which the tariffs are provisional with intensive talks expected between the two sides.

"CAAM deeply regrets this and holds it firmly unacceptable," it said.

The provisional duties of between 17.4% and 37.6% without backdating are designed to prevent what European Commission President Ursula von der Leyen said is a threatened flood of cheap Chinese electric vehicles built with state subsidies.

The EU anti-subsidy investigation has nearly four months to run.