Saudi Tourism Minister Says Partnerships Are Key to Progress

Al-Khateeb Speaks at the opening of the UN Tourism General Assembly’s 26th Session (X)
Al-Khateeb Speaks at the opening of the UN Tourism General Assembly’s 26th Session (X)
TT

Saudi Tourism Minister Says Partnerships Are Key to Progress

Al-Khateeb Speaks at the opening of the UN Tourism General Assembly’s 26th Session (X)
Al-Khateeb Speaks at the opening of the UN Tourism General Assembly’s 26th Session (X)

Saudi Arabia underscored its central role as a leader in the global tourism sector by hosting the twenty sixth session of the UN Tourism General Assembly, the largest in the organization’s history, with more than 100 ministers from around the world attending.

During the gathering, Saudi Tourism Minister Ahmed Al-Khateeb stressed that the core of progress lies in “partnership” between institutions, the private sector and civil society.

The assembly opened in Riyadh on Friday, marking the first time the event has been held in the Gulf region. This year’s meeting convenes under the theme “AI powered tourism, redefining the future.”

The session, which runs until November 11, is expected to help chart the global tourism agenda for the next 50 years.

The UN Tourism General Assembly, now in its twenty sixth session, is the organization’s main meeting, setting the strategic direction for the global tourism sector, approving its work and budget, and addressing key industry issues.

By hosting the event, the Kingdom is leading an international dialogue that opens new horizons for a more sustainable and inclusive future for tourism.

This year’s agenda examines AI powered tourism, strategic decisions on sector policies and governance, and the election of the next secretary general of UN Tourism.

As Saudi Arabia leads this global conversation on the industry’s future, Al-Khateeb said in his opening remarks that “partnerships are the basis of progress, the public sector sets the vision, and investors and innovators in the private sector turn it into reality. Civil society organizations ensure that inclusion and social responsibility remain at the heart of tourism.”

He welcomed all partners and said closer cooperation and stronger synergies are needed to reinforce tourism as a driver of growth, sustainability and inclusiveness.

He added that tourism relies fundamentally on human interaction and direct communication to convey the culture and history of nations, noting that Saudi Arabia is keen to ensure that “our sons and daughters are at the forefront, welcoming visitors and guiding them, since human interaction is what creates the true tourism experience”

Al-Khateeb told Asharq Al Awsat that technology plays a decisive role in developing the sector, but he cautioned against excessive reliance on artificial intelligence at the expense of “the human connection that is at the core of the tourism experience.”

He said “tourism fundamentally depends on people who convey the culture and history of their country, human interaction is what creates the true tourism experience.”

He cited an AI powered virtual assistant launched by the ministry within the General Assembly application, explaining that it provides easier procedures and accurate information on accommodation and activities, without becoming “a full substitute for the human element.”

Princess Sarah bint Abdulaziz, general supervisor of the International Affairs Agency at the Ministry of Tourism, told the Saudi Press Agency that the unprecedented turnout reflects the Kingdom’s pivotal standing in the global tourism sector.

Discussions in the General Assembly focus on technology and innovation, and Saudi Arabia is steering the conversation with an ambitious initiative, the “Riyadh Declaration on the Future of Tourism,” which is expected to be discussed during the one hundred twenty fourth Executive Council meeting on Saturday.

The document, backed by the council and expected to be adopted, outlines a global framework to harness artificial intelligence in the sector.

Saudi Arabia has called for three main outcomes from the session, included in the draft declaration:

A global framework for measuring artificial intelligence, designed to develop a unified approach to assessing readiness and adoption across the tourism ecosystem.

Guidelines for AI applications, offering practical recommendations for policymakers and businesses on risk management.

A ministerial declaration, outlining shared principles for ethical, inclusive and responsible adoption of technology in the sector.

The draft declaration, circulated to member states, commits ministers to ten core principles, most notably immediate sustainability, responsible digital transformation, stronger resilience and digital security, and ensuring fair distribution of benefits among local communities.

Adoption of the “Riyadh Declaration” is expected to form the basis of UN Tourism’s work in the coming years as it integrates technology and sustainability into the global travel industry.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
TT

Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
TT

Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT

Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.