Opinion Leisure & Hospitality Dubai restaurants struggle in the dog days of summer The summer expat exodus and rent increases are piling pressure on Dubai's hospitality industry July 26, 2024
Video length: 04:47 VIDEO Retail Tech to help UAE’s baqalas hold off larger grocery rivals Baqalas — small convenience stores – represent 81 percent of the UAE’s grocery retail outlets. But they need to adopt technology if they are to maintain their 56 percent market share against competition from supermarkets and hypermarkets. Watch the video to find out more. More videos from AGBI July 25, 2024
Retail ADIA considers $1bn funding in Nestlé ice cream Abu Dhabi Investment Authority (ADIA) is considering a €1 billion ($1.1 billion) investment in a French company that was set up as a joint venture with Nestlé. The investment would be into Froneri, an ice cream manufacturer that was established in 2016 as a partnership between Nestlé and PAI Partners, a private equity company. The […] July 24, 2024
Opinion Tourism Salalah must consider the locals in Oman’s tourist push The city’s one million visitor target seems ambitious in an area with a population of less than 450,000 July 23, 2024
Analysis Gaming Investment yet to turn a profit in Saudi esports drive Saudi Arabia’s aggressive entry into esports, marked by the $60 million Esports World Cup and the successful bid to host the 2025 Olympic Esports Games, has grabbed global headlines. Yet a multitude of challenges to the commercialisation of esports could blunt the kingdom’s ambitions to become a global force within this thriving new industry. The […] July 23, 2024
Tourism Rising costs and fewer visitors hit Turkey tourism Turkey’s tourism industry is contending with rising costs and a slowing of the domestic economy which is affecting the plans of local holidaymakers. There are also concerns that high prices could hit foreign arrivals as the country sheds its reputation as a cheap holiday destination. Some parts of the industry are nonetheless enjoying a strong […] July 23, 2024
Opinion Business of Sport Gulf countries vie to add Olympics to the trophy cabinet Qatar and Saudi Arabia are keen to bid despite sky high costs July 22, 2024
Tourism Morocco’s medinas given $800m facelift to lure tourists The kingdom hopes its old cities, with their alleyways and history, will attract more travellers July 21, 2024
Exclusive Leisure & Hospitality Palazzo Versace auction tied to owner’s finances The auction of the Palazzo Versace Dubai hotel is directly tied to the property’s owner’s financial circumstances and is not a reflection of the hotel’s performance, an executive told AGBI. The hotel itself continues to perform strongly, said Monther Darwish, managing director of Palazzo Versace Dubai and chairman and founder of Palazzo Hospitality, which oversees […] July 18, 2024
Leisure & Hospitality Jadwa buys 60% of Saudi chain Tikkaway Restaurants Jadwa Investment is acquiring a majority stake in the Saudi fast-food chain Tikkaway Restaurants for an undisclosed sum. The Riyadh-based investment management company acquired a 60 percent stake in Tikkaway through its food and beverage opportunities fund. The homegrown restaurant chain has 20 branches and plans to expand to more than 40 outlets across the […] July 18, 2024
Video length: 08:13 Analysis Tourism Event tourism the spur for economic growth in Bahrain Bahrain has affirmed the strategic importance of the Sakhir Sports City development in a growing focus on event-related tourism as a primary engine of economic growth. The project, near the country’s Formula 1 circuit, is slated for completion in 2025 and expected to cost more than BD100 million ($266 million). It will encompass a stadium […] July 18, 2024
Tourism Near-space balloon flights to start from Abu Dhabi next year European space exploration company Eos-X Space will begin operating balloon flights to the edge of space from Abu Dhabi in the third quarter of 2025, as it aims to gain a bigger stake in the $9 billion space tourism industry. The UAE capital will host the launch facility and spaceport, including a hotel complex on […] July 17, 2024
Tourism Oman hotel revenues increase more than 10% Hotel revenues across Oman were up by more than 10 percent in the first five months of 2024, fuelled by an increasing number of Asian and European visitors to the sultanate. Three-to-five star hotels reported revenues of OR108 million ($281 million) at the end of May, the latest data from the National Centre for Statistics […] July 16, 2024
Retail PepsiCo growth defies Middle East boycott of Western brands PepsiCo Inc has reported robust growth in the Middle East, defying the boycotts that have battered other Western brands in the region. The food and beverage giant posted double-digit organic revenue growth in Egypt for the second consecutive quarter, even though it has been the subject of a backlash linked to perceived US support for […] July 16, 2024
Business of Sport Qatar’s beIN to pay €100m to broadcast French football games Qatar broadcaster beIN has agreed to pay €100 million ($109 million) annually for the rights to broadcast one French Ligue 1 football match per week, according to a news report. The sports channel is paying a premium per game as its package includes the most sought-after fixtures, the Financial Times reported, citing informed sources. DAZN, […] July 16, 2024
Aviation UAE issues visas for Nigerians after two-year hiatus The UAE government has started issuing visas for Nigerians after a halt of nearly two years. The governments of the UAE and Nigeria reached an agreement to resume travel between the two countries, Nigeria’s information minister said in a post on social messaging platform X. The UAE stopped issuing visas to Nigerians in 2022 after […] July 16, 2024
Manufacturing Henkel expands Gulf presence with Riyadh factory German consumer goods group Henkel has opened a beauty care production facility in Riyadh amid a localisation drive by the Saudi government. The facility in Riyadh will produce a range of products under the Pert brand, including shampoos, conditioners and other specialised items. No details were given on the production capacity and cost of the facility. […] July 16, 2024
Aviation Saudi air passengers up 17% in first half of 2024 Saudi Arabia had a 17 percent increase in the total number of air passengers in the first half of the year, rising to 62 million. This was based on a 12 percent rise in total flights to 446,000, the General Authority of Civil Aviation (GACA) said. Air freight was also up, showing an increase of […] July 15, 2024
Retail Saudi shoppers heavily favour local produce Saudi shoppers heavily favour local produce over imported foodstuffs and have a high interest in the use of artificial intelligence in food shopping, a new survey has found. It also described the Saudi supermarket sector as a huge opportunity for discount retailers. The Customer Perception Map by global consultancy Oliver Wyman, which included Saudi Arabia […] July 15, 2024
Business of Sport Anyone for cricket? Saudi Arabia’s next big sports play Saudi Arabia is aggressively courting much-needed foreign investment to commercialise its emerging sport sector, part of its Vision 2030 plan to diversify from its dependence on wealth from hydrocarbons. Basim Ibrahim, director of sport investment development at Saudi’s Ministry of Investment, said the kingdom, which has already put its football clubs up for sale, is […] July 15, 2024
Leisure & Hospitality Morocco nears 2024 tourism target as numbers surge 14% Morocco has almost achieved 50 percent of its tourism target for 2024, according to a news report. The country received 7.4 million tourists in the first six months of 2024, an increase of 14 percent year on year, Morocco World News reported, citing tourism ministry data. The annual target has been set at 15 million. […] July 15, 2024
Business of Sport Saudi PIF ups stake in Newcastle United to 85% Saudi Arabia’s sovereign wealth fund – the Public Investment Fund (PIF) – has increased its stake in Newcastle United football club to 85 percent from 80 percent. PIF and RB Sports & Media, the sporting arm of the UK-based Reuben Brothers, will together acquire PCP Capital Partners’ shareholding in the club, the stake co-owned by […] July 15, 2024
