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Decision Day: Which City Will Secure Hosting Rights for Expo 2030?

The vote for the host city of the 2030 World Expo is set to take place in Paris on Nov.28. (Asharq Al-Awsat)
The vote for the host city of the 2030 World Expo is set to take place in Paris on Nov.28. (Asharq Al-Awsat)
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Decision Day: Which City Will Secure Hosting Rights for Expo 2030?

The vote for the host city of the 2030 World Expo is set to take place in Paris on Nov.28. (Asharq Al-Awsat)
The vote for the host city of the 2030 World Expo is set to take place in Paris on Nov.28. (Asharq Al-Awsat)

The general assembly of the Bureau International des Expositions (BIE) will convene in Paris on Tuesday to vote on the selection of the winning city to host Expo 2030.

The member states of the assembly will vote on one of three files: Saudi Arabia (Riyadh), South Korea (Busan), and Italy (Rome).

Each of the candidates will make a final presentation of their project, after which the eligible and present members of the assembly will vote via secret ballot using electronic voting, with each country having only one vote.

The competition among the three contenders remains intense until the final moments.

Saudi Arabia’s bid for Riyadh will take centerstage, promising an “unprecedented edition” of the world fair.

South Korean President Yoon Suk-yeol concluded a visit to France on Sunday, participating in the final campaign to promote Busan as the host city.

He called for support for Busan’s bid, emphasizing that it would serve as a platform for global challenges and an opportunity for South Korea to reciprocate the support it received from the international community during its economic development.

Simultaneously, Italy is seeking to host the event in its capital, Rome, aiming to boost its economy, reminiscent of the economic upturn experienced when Milan hosted Expo 2015.

Saudi Arabia, as expressed by several high-ranking officials overseeing Riyadh’s bid campaign, also affirmed its commitment to hosting Expo 2030.

The Kingdom is looking to enhance the world’s ability to reshape the planet towards a better future by transforming the international event into a platform for cooperation and knowledge exchange.

To achieve this, Riyadh has allocated a budget of $7.2 billion for organizing the expo, part of Saudi Arabia’s overarching national transformation plan of Vision 2030.

Ibrahim bin Muhammad Al-Sultan, CEO of the Royal Commission for Riyadh City, emphasized the Kingdom’s commitment to completing the Expo 2030 hosting site well in advance of the specified deadlines.

By 2028, all preparations for hosting Expo 2030 will be ready, said Al-Sultan.

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Saudi Arabia Has Most Stable Inflation Rate Compared to G20 Countries

A supermarket in Saudi Arabia (Asharq Al-Awsat)
A supermarket in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Has Most Stable Inflation Rate Compared to G20 Countries

A supermarket in Saudi Arabia (Asharq Al-Awsat)
A supermarket in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia has managed to control inflation in recent months, recording 1.5 percent in June, on an annual basis. This shows that the Kingdom is one of the most stable countries in the G20, with an inflation rate that remains inferior to the global target of 2 percent.

Data issued by the General Authority for Statistics (GASTAT) on Tuesday revealed that residential rents had the biggest influence on inflation in June, compared to the same month last year, as they rose by 10.1 percent.

On a monthly basis, the inflation rate decreased in June, reaching 1.5 percent, compared to 1.6 percent the previous month.

Experts told Asharq Al-Awsat that the rate shows the efficiency of Saudi Arabia’s economic management and liquidity to ensure a balance between growth and inflation. They said the government is making great efforts to adopt the adequate procedures and measures in order to confront the wave of inflation and rising prices that has recently swept the world.

Economic policy analyst Ahmed Al-Shehri told Asharq Al-Awsat that the inflation rate in Saudi Arabia is still under control, and below the global target, noting that it has decreased to 1.5 percent last June, after witnessing slight increases over the past months.

According to Al-Shehri, the annual inflation rate reaching 1.5 percent is mainly due to the increase in housing rental prices by 10.1 percent.

He said the cash supply in Saudi Arabia reached SAR2.9 trillion ($778.1 billion), in parallel with the slowdown in annual inflation to record 1.5 percent in June, which reflects the efficiency of economic management and liquidity to ensure a balance between growth and inflation.

For his part, legal advisor and professor of commercial law, Dr. Osama Al-Obaidy, told Asharq Al-Awsat that the government has resorted to early precautionary measures that helped avoid the inflation crisis.

The stability of the inflation rate highlights the success of the Kingdom’s financial policies and its support for the private sector, in order to raise manufacturing productivity and increase strategic reserves of basic materials and ensure their availability, he said.