Tourism Saudi Arabia sets foreign tourism income record in 2024 Spending by people visiting Saudi Arabia last year hit a record high, bringing the kingdom closer to its Vision 2030 tourism targets. Inbound tourists spent SAR154 billion ($41 billion) last year, a 14 percent increase from 2023, which was also a record year. It also meant a record SAR50 billion ($13 billion) travel surplus, after […] April 3, 2025
Opinion Business of Sport Gulf funds hope for slam dunk with European basketball Sixteen franchises could be launched across Europe and sold for a fee of about $500 million each. April 3, 2025
Tourism Thai earthquake increases Omani Eid bookings to Dubai The earthquake which has devastated parts of southeast Asia has forced many Eid holiday makers from Oman to divert from flying to Thailand and to choose Dubai instead as is a preferred destination. Travel agents in Oman have seen a surge of bookings to Dubai with most of them leaving by air. “In last year’s […] April 2, 2025
Retail UAE beauty industry benefits from Ramadan sales bump The UAE’s beauty industry has posted a major increase in revenue during the holy month of Ramadan. Cosmetics and personal care product sales have soared as consumers prioritise festive glamour for nightly iftars and Eid celebrations. UAE Ramadan sales are expected to hit $10 billion this year, with beauty products leading growth at over 20 […] April 1, 2025
Opinion Gaming Saudi Arabia’s Pokémon Go deal is a gamechanger No longer a niche sector, gaming is driving the evolution of other cultural fields April 1, 2025
Opinion Leisure & Hospitality Travel to and from the GCC is this year’s top Eid trend Bookings are on the rise as tourists seek celebrations and cultural immersion March 28, 2025
Analysis Tourism Demand for luxury keeps Dubai hotel openings upscale Dubai’s traditional love of luxury hotels shows no signs of slowing. Five-star hotel openings dominated the sector in 2024, although industry experts insist mid-range and budget segments remain vital to the emirate’s long-term hospitality growth. Last year, nearly two-thirds of new hotel rooms added in 2024 were in the luxury and upper upscale segments, according […] March 27, 2025
Opinion Food & Drink Ramadan’s impact on Gulf consumer trends, from dates to digital deals To thrive, food and beverage companies must adapt strategies to meet customers needs March 26, 2025
Tourism Abu Dhabi’s Adia buys stake in European Camping Group The UAE’s sovereign fund Abu Dhabi Investment Authority (Adia) has agreed to buy a significant minority stake in European Camping Group (ECG), a key player in the European outdoor hospitality sector, from private equity company PAI Partners. The deal, expected to close in the second quarter of this year, is subject to regulatory approvals, ECG […] March 25, 2025
Retail Majid Al Futtaim reports 6% profit drop as sales slow Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […] March 24, 2025
Infrastructure Morocco’s $1.3bn highway overhaul for 2030 World Cup Morocco plans to invest MAD12.5 billion ($1.3 billion) to develop its highway infrastructure for the 2030 Fifa World Cup. The investments, spanning from 2025 to 2032, will focus on three major projects: the Continental Rabat-Casablanca Highway, Tit Mellil-Berrechid Highway, and Ain Harrouda and Sidi Maarouf junctions, Morocco News World reported citing a statement from the […] March 24, 2025
Tourism People in UAE to take longer Eid al-Fitr breaks this year UAE residents are increasing the duration of their holiday break over Eid al-Fitr this year as celebrations ending Muslims’ Ramadan month of fasting coincide with the spring break for schools. The length of a typical Eid holiday this year may increase by half, up from an average eight days to 12, according to data supplied […] March 21, 2025
Opinion Leisure & Hospitality Ramadan transforms hospitality with quiet days and bustling nights The holy month acts as an annual stress test for the industry March 21, 2025
Markets Sport Clubs gets nod to list 30% on Saudi bourse Riyadh-based Sport Clubs Company has received approval to float 30 percent of its share capital on the Saudi stock exchange. The Capital Market Regulator has given its nod to sell 34.3 million shares on the main market. The approval will be valid for six months but is deemed cancelled if the initial public offering (IPO) […] March 21, 2025
Leisure & Hospitality Kuwait’s Action Real Estate enters US hospitality sector Kuwait’s Action Real Estate Company and Malta-based Corinthia Group have acquired two boutique hotels in a prime location in the US with a 100 rooms, the companies said in a statement. The acquisition of Maison 140 and the nearby Mosaic Hotel in Beverly Hills, California, by the Action-Corinthia joint venture is part of a broader […] March 20, 2025
Opinion Leisure & Hospitality Ramadan food prices won’t stop Omanis filling their trolleys Staples such as rice and sugar cost about 10% more this year, but Iftar traditions still hold sway March 19, 2025
Analysis Leisure & Hospitality Gulf hotel owners switch to franchises in search of profits Hotel owners in the Gulf are increasingly choosing franchise agreements with international hotel brands over the less profitable direct management route, industry experts and analysts say. This is especially true in the UAE and Saudi Arabia where the hotel industry is maturing and hotel owners know their business better, driving them to manage their own […] March 19, 2025
Aviation India-UAE airfares could drop if capacity expands Airfares between India and the UAE are expected to become cheaper if air travel capacity doubles over the next five years. A 20 percent drop in ticket prices could save Indian consumers $1 billion, CNBC-TV18, an Indian financial news channel, reported, citing UAE ambassador to India Abdulnasser Alshaali. He said the UAE has proposed a […] March 18, 2025
Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025
Economy Turks turn to credit cards for foreign purchases Turks are increasingly using credit cards to buy goods and services abroad, as inflation and taxes eat away at their buying power at home. Turkish people used their credit cards more than 380 million times for overseas purchases last year, spending $11.5 billion, according to a new report by the central bank’s Bankalarası Kart Merkezi […] March 14, 2025
Tourism UAE to fund new luxury hotel near Egypt’s Giza pyramids The UAE will back the development of a five-star hotel near the pyramids in Giza outside the capital Cairo to support Egypt’s tourism, state-run Wam news agency reported. State-backed Abu Dhabi Fund for Development (ADFD), which specialises in development financing at below market rates, will provide AED440 million ($120 million) to build a 302-key Sofitel […] March 14, 2025
Business of Sport Sports and entertainment park added to Dubai’s free zones Dubai is adding a sports and entertainment business park to its more than 30 free zones. The International Sports and Entertainment Free Zone (ISEZA), which will be housed inside the existing Dubai World Trade Centre free zone, will compete with similar sports technology business parks in Saudi Arabia, Singapore and even Israel. Dubai’s free zones […] March 13, 2025
