20 Countries Participate in Saudi Arabia Hotel Show

Riyadh to host Hotel Show in September (Asharq Al-Awsat)
Riyadh to host Hotel Show in September (Asharq Al-Awsat)
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20 Countries Participate in Saudi Arabia Hotel Show

Riyadh to host Hotel Show in September (Asharq Al-Awsat)
Riyadh to host Hotel Show in September (Asharq Al-Awsat)

Saudi Arabia is preparing to host the Hotel Show at Riyadh International Convention and Exhibition Center between September 6 and 8.

Hospitality experts will discuss the latest developments in the hospitality industry, including adopting new approaches and exchanging ideas on the latest innovative trends.

Over 230 local and international brands from more than 20 countries are expected to participate in the show, including the Saudi Tourism Development Fund, the Red Sea Development Company, Amaala, Diriyah Gate, and Gates Hospitality.

The show will also include international exhibitors from Egypt, France, Italy, Morocco, Portugal, Uzbekistan, Belgium, Greece, Hong Kong, India, the Netherlands, Oman, Poland, Slovenia, Turkey and the UAE.

The event will discuss hospitality, hotel services, technology and security, interior decoration and contracts, furniture, cleaning and facilities management, food and food services, commercial kitchen, operating supplies and equipment.

Meanwhile, a recent study confirmed that 58 percent of Saudis want to work in the hospitality business, hotel management, events and marketing, as Saudi Arabia expand its leisure tourism sector.

The Kingdom is currently witnessing the opening of an increasing number of new hotels in various cities, as it aims to deliver 310,000 hotel rooms by 2030 as part of its plans to develop the hospitality market for local and international tourism.

Saudi Arabia is expanding in the leisure tourism sector and expects 30 million visitors annually by 2030.

The latest annual statistics show that the travel and tourism sector's contribution to GDP is 9.4 percent, with travelers' spending growing at 10.5 percent annually.

According to the study, the Saudi youth generation prioritizes the ideal job in companies with clear future goals, a stimulating work environment, and policies that promote psychological and mental health.

More than half of Saudi youth aspire to work in the hospitality field, according to a survey conducted over the past 12 months.

The study, issued by the "Hilton Group", indicated that hotel management, event management, marketing, and communications are among the most popular majors in the hospitality sector.

Two-thirds of Saudi youth, an estimated 66 percent, believe in the importance of joining successful companies with clear future goals.

More than 50 percent of Saudi nationals consider career development and comprehensive policies for mental and psychological health and performance appreciation are keys to ideal future jobs.

The Hilton survey revealed the desire of millennials in Saudi Arabia to join international companies that provide a motivational environment, ensure they participate with team members to achieve the desired goals, develop their experiences and capabilities, and follow policies that promote mental health.

According to the survey, 58 percent would like to work in hospitality, which will reflect positively on the growing sector across the Kingdom.



Saudi Arabia’s Private Sector Ends 2024 with Strongest Sales Growth

 The Saudi capital, Riyadh (AFP)
 The Saudi capital, Riyadh (AFP)
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Saudi Arabia’s Private Sector Ends 2024 with Strongest Sales Growth

 The Saudi capital, Riyadh (AFP)
 The Saudi capital, Riyadh (AFP)

Saudi Arabia’s non-oil private sector concluded 2024 on a high note, with significant increases in sales and business activity fueled by robust domestic and international demand.
The Kingdom’s non-oil GDP is expected to grow by over 4% in both 2024 and 2025, supported by notable improvements in business conditions, according to Riyad Bank’s Purchasing Managers’ Index (PMI) report.
Despite inflationary challenges, the Riyad Bank PMI recorded 58.4 points in December, reflecting strong and accelerated economic recovery, albeit slightly lower than November’s 59.0 points.
The solid performance highlights improvements across non-oil sectors, with new business activity in December growing at its fastest pace in 12 months. This growth reflects rising domestic and global demand. Renewed marketing efforts and strong customer demand encouraged companies to boost production and expand operations, particularly in wholesale and retail.
The PMI has remained above the neutral threshold of 50.0 points since September 2020, signaling continuous expansion in Saudi Arabia’s non-oil economic activity.
The International Monetary Fund (IMF) previously projected sustained momentum in Saudi Arabia’s non-oil reforms, estimating non-oil GDP growth for 2024 at between 3.9% and 4.4%. The IMF noted that growth could reach 8% if reform strategies are fully implemented.
Expansion in International Markets
A surge in exports was among the key factors driving non-oil economic growth in Saudi Arabia. December saw the largest increase in export orders in 17 months, underscoring the success of Saudi policies in opening new markets and fostering strong international trade relationships, supported by ongoing product innovation.
Higher domestic and international demand boosted production levels in December. Companies also worked to enhance operational efficiency, leading to a notable increase in inventory. Purchasing activity accelerated to its highest level in nine months, reflecting the sector’s ability to effectively meet rising demand.
Cost Pressures on Production
Despite significant growth in production and sales, the sector continues to face challenges related to sharp inflation in input costs, driven by heightened demand for raw materials. These pressures have led to higher product prices, although some companies opted to reduce prices to remain competitive and address elevated inventory levels.
Meanwhile, wage cost increases were less pronounced, helping mitigate economic pressures related to salaries.
Future Outlook
Dr. Naif Al-Ghaith, Chief Economist at Riyad Bank, highlighted the positive end to 2024 for the Kingdom’s non-oil private sector, reflecting the progress achieved under Saudi Arabia’s Vision 2030. He noted that the PMI score of 58.4 points demonstrates the sector’s resilience and ongoing expansion.
Al-Ghaith expects non-oil GDP to grow by over 4% in 2024 and 2025, driven by improved business conditions and rising new orders, signaling increased market confidence and demand. Elevated domestic demand and export growth have pushed total sales to their highest level in a year. This, in turn, has led to strong increases in business activity and inventory levels, demonstrating the sector’s ability to meet and capitalize on excess demand, he underlined.