Tourism Minister Inaugurates Saudi Pavilion at WTM London

Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London.
Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London.
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Tourism Minister Inaugurates Saudi Pavilion at WTM London

Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London.
Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London.

Minister of Tourism Ahmed bin Aqeel Al-Khateeb on Monday inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London, SPA said on Tuesday.

The participation reaffirms the Kingdom's leading role in driving the global tourism sector's growth and prosperity. The Kingdom received 17 million tourists in the first seven months of 2023, with a target to reach 30 million tourists by the end of the year.

The WTM, which is hosted annually in London, is one of the world's most important tourism exhibitions.

Saudi Arabia's participation in the exhibition reflects its pioneering and leading role in the global tourism scene, as one of the fastest-growing tourist destinations in the world, taking the 13th position in the number of incoming tourists in 2022.

Furthermore, the first quarter of 2023 witnessed remarkable growth, with a 64% increase in the number of tourists, ranking Saudi Arabia second in terms of the growth of incoming tourists worldwide.

The minister indicated that participating in the exhibition underscores Saudi Arabia's transformation into a leading global tourist destination, reflecting its rich cultural heritage, unique natural landscapes, and tourist attractions.

The Kingdom has positioned itself as a global focal point, as it is making its mark on the international tourism map, the minister said.

Due to the ongoing developments in the sector, he noted that the targets have been increased to aim for 150 million visits and 70 million international tourists annually by 2030.

Moreover, the minister emphasized that the WTM exhibition provides an opportunity for the tourism system to establish strategic partnerships with major global markets.

He said the system aims to use the participation in the exhibition to open new horizons and attract a more diverse range of tourists from around the world, with the aim of highlighting Saudi Arabia's position on the global tourism map.



Gold Rises on Dip-buying, Focus on US-China Trade Updates

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
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Gold Rises on Dip-buying, Focus on US-China Trade Updates

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo

Gold prices rebounded on Thursday as investors bought bullion following a sharp decline in the previous session, while focus still remained on US-China trade tensions.
Spot gold was up 1.6% to $3,340.79 an ounce, as of 0907 GMT, Reuters reported. Bullion lost over 3% on Wednesday, in its worst daily performance since late November.
US gold futures gained 1.8% to $3,352.10.
"Gold's pullback earlier has cleared some of the froth from its latest surge. That in turn attracted some buy-the-dip action, amid still-persistent global trade war fears," said Han Tan, Exinity Group's chief market analyst.
"Given the still-evident tailwinds for this precious metal, gold bugs could ultimately conquer the $3,500 level with conviction."
Non-yielding bullion, traditionally seen as a hedge against global instability, has risen over 27% so far this year.
The International Monetary Fund made sharp reductions to its outlook for both US and global growth this year, with President Donald Trump's tariff policy the central reason behind the downgrade.
"If the economic outlook deteriorates further, then there's no reason why gold could not receive another strong bid," said Ole Hansen, head of commodity strategy at Saxo Bank.
However, US Treasury Secretary Scott Bessent said the US economic growth will surpass the IMF's revised estimate of 1.8%, down from 2.7% in January, if Trump administration's policies are implemented.
He also said that the excessively high tariffs between the US and China are unsustainable, and must be reduced before trade negotiations can proceed.
Supporting gold, the US dollar eased, making the greenback-priced bullion cheaper for overseas buyers.
Spot silver fell 0.5% to $33.37 an ounce, platinum was steady at $973.25 and palladium was down 0.6% to $939.53.