Tourism Plan announced to build six new hotels in Egypt Plans to open six new hotels in Egypt in 2025 at a cost of $215 million have been revealed by the CEO of an Egyptian hotel company. Alaa Akel, chief executive of Jaz Hotel Group, a subsidiary of the Egyptian travel and tourism company Travco, said the group will open two new hotels on Egypt’s […] September 18, 2024
Tourism Halo Space to manufacture capsules in Saudi Arabia Spanish company Halo Space plans to localise most manufacturing of its high-altitude balloon capsule to Saudi Arabia, it said this week before its first test launch in the kingdom. The Madrid-based startup is due to stage an unmanned test flight from the Al-Aflaj oasis 330km south of Riyadh within the next two weeks, depending on […] September 18, 2024
Aviation Dubai to launch air taxi service in 2026 Dubai is planning to launch an air taxi service in 2026, using Joby Aviation’s fully electric vehicles. In February, Joby Aviation, listed on the New York Stock Exchange, announced plans to soft-launch air taxi services in Dubai by early 2025. The air taxis are designed to carry a pilot and four passengers at 320km per […] September 18, 2024
Retail Saudi retail in tech race to lock in consumer loyalty Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts. “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy. “Technology […] September 17, 2024
Retail Dubai discount retailer BFL looks east to double store numbers Retail chain Brands For Less has revealed plans to almost double the number of BFL stores it operates in the next five years as it looks to countries such as Singapore for expansion. The Dubai-based discount retailer is flush with cash from last month’s sale of a $360 million stake to the US giant TJX […] September 17, 2024
Tech Shortage of IT specialists slows Turkish business growth A shortage of trained IT specialists is slowing Turkish companies’ growth and their development of artificial intelligence applications, according to a new report. The report, issued by Turkey’s state statistics agency Turkstat, found some sectors had a strong uptake of ecommerce sales and services. Almost half of all accommodation and food service providers took advantage […] September 17, 2024
Retail BinDawood to invest $390m in delivery hubs Saudi grocery retailer BinDawood Holding has announced plans to invest SAR1.5 billion ($390 million) in robotics and delivery hubs. CEO Ahmad BinDawood confirmed that the investment, with partners, would be made in the company’s automated “dark stores” and the infrastructure needed to run them. The stores, typically hubs for online shopping orders, will range from […] September 16, 2024
Analysis Construction GCC stadium projects have multifaceted impact on real estate Entertainment and sports-focused construction across the Gulf is most likely to push property prices up despite bringing more traffic and noise, according to industry observers. A few of the region’s many projects include the 47,000-spectator Aramco stadium in Saudi Arabia’s Al Khobar, large amusement parks in Qatar and Kuwait, and the region’s inaugural ballpark on […] September 13, 2024
Opinion Leisure & Hospitality Another little bit of Moscow in Dubai Marina Russians have brought glamour and sky-high rents to 'Marinagrad' September 13, 2024
Video length: 05:07 VIDEO Gaming Saudi Arabia plays the long game in a high-stakes market Saudi Arabia has so far channeled $38 billion into the esports sector through its Public Investment Fund subsidiary Savvy Games Group. This includes high-profile acquisitions such as the $4.9 billion purchase of the Monopoly Go developer Scopely and the $1.5 billion buyout of ESL FaceIt Group, one of the world’s largest esports companies. Critics have […] September 13, 2024
Analysis Food & Drink Champagne shipments to the Gulf slow but still flowing The growth in champagne shipments to the Gulf has slowed in recent years but the market is still one of the strongest in the world, bucking a global trend for declining sales. Around 3.5 million bottles of champagne were shipped to the Gulf states in 2023, an increase of about 40 percent, according to data […] September 13, 2024
Opinion Food & Drink Dubai deserves its place on the global culinary scene Foodie landscape has had an impressive evolution, characterised by diversity September 12, 2024
Analysis Gaming Wynn’s update on RAK casino has analysts abuzz Wynn Resorts is to update investors next month on its plans for the UAE’s first casino, heightening analysts’ speculation about the company. The Las Vegas-based hospitality group is building a $4 billion, 1,500-room resort on Al Marjan Island in Ras Al Khaimah. The complex is expected to open in early 2027 and Wynn’s CEO Craig […] September 12, 2024
Business of Sport Tiger Woods joins LIV Golf-PGA Tour merger talks Saudi Arabia’s Public Investment Fund (PIF) is reported to be due to meet Tiger Woods and officials from the PGA Tour this week in New York as negotiations continue to bring the fractured sport of golf together under one umbrella. The PIF-sponsored LIV Golf series, which this month completes its third season, turned the sport […] September 11, 2024
Tourism Smoother sailing for cruise market as Oman relaxes visas Oman has relaxed visa regulations for cruise ship passengers visiting the sultanate. Authorities have introduced 10-day and one-month visas aimed at growing the country’s cruise tourism sector. Both visas, which are free of charge, are available from cruise-ship agents and are valid provided entry is made within 30 days of issue. NewsletterGet the Best of […] September 11, 2024
Retail Turkish ecommerce growing faster than wider economy Turks are embracing online life in ever growing numbers, both as users and as service providers, with ecommerce gaining a strong foothold in the domestic economy and scaling up in overseas markets. Turkish ecommerce is expanding at a rate far faster than the general economy, Ömer Bolat, the trade minister, told delegates at a summit […] September 10, 2024
Tourism Saudi Arabia plans refund scheme to cater for tourists Saudi Arabia is planning to introduce a tourist tax refund scheme in an attempt to boost visitor numbers and compete with its Gulf neighbours. The Zakat, Customs and Tax Authority opened a public consultation at the end of August on proposed changes to tax regulations that aim to improve compliance with valued added tax legislation […] September 10, 2024
Retail Carrefour and Dubai’s Apparel Group plan India expansion Dubai’s Apparel Group has teamed up with Carrefour to take the French supermarket retailer into the Indian market. The franchise agreement will see the first five Carrefour stores open in 2025, with a particular focus on the north of India, before expanding nationwide. “This partnership represents a significant step in strengthening our position in India,” […] September 9, 2024
Retail Online retail sales in Saudi Arabia to double, report says Ecommerce in Saudi Arabia’s retail sector is likely to double between 2020 and 2025, with annual compound growth of 15 percent a year, a government report has revealed. “As the second-highest venture capital-funded sector in Saudi Arabia, ecommerce is booming,” the report by the Small and Medium Enterprises Authority said. Venture capital funding in ecommerce […] September 9, 2024
Opinion Tourism The controversial painting primed to become Riyadh’s crown jewel Leonardo da Vinci's Salvator Mundi is poised to be a cultural anchor for the Saudi capital September 9, 2024
Economy Jordan’s growth to moderate this year but pick up by 2026 Jordan’s economic growth is expected to moderate to 2.3 percent this year due to the indirect impacts of the increase in regional tensions, which have hit investment and tourism numbers. However, the growth is expected to rebound toward 3 percent by 2026-2027 as the economy adapts to the initial shock of regional instability. “Authorities’ efforts […] September 9, 2024
Tourism Saudi Arabia scraps hotel licence fees to draw investment Saudi Arabia has removed licensing fees for hotels and resorts in a further effort to increase tourism and improve the kingdom’s investment environment. The Ministry of Tourism and Ministry of Municipalities and Housing said they would ask hotel establishments to reapply for operating licences online. The decision applies to hotels, hotel apartments and residential resorts. […] September 6, 2024
