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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      • Business
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
      • Election Results
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              IFP Info - News
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              Iran Tourism Market Stirs International Interest

              Financial Tribune

              February 8, 2017
              in Hospitality
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              Iran is renewing ties with the world in the hope of drawing foreign investment by presenting itself as a business-friendly market, as western sanctions were lifted against the country following the nuclear deal.
               
              The government has made clear that developing tourism—a $7.2 trillion industry—tops its agenda. This has stoked the interest of investors and international event organizers warming up to Iran.
               
              "Iran is among the last real emerging markets … The only one in the Middle East," says Scott Antel, a hospitality lawyer who is on the advisory board of the UK-based Bench Events, the organizer of the Iran Hotel and Tourism Investment Conference (Feb. 7-8) at Tehran's Parsian Azadi Hotel.
               
              Iranian officials plan to increase international arrivals from 5.2 million in 2015 to 20 million in 2025, which would theoretically boost revenue from $7.5 billion to around $25 billion.
               
              An oft-cited shortcoming in the hospitality sector is the lack of four- and five-star hotels, which is why tourism authorities are putting in a lot of effort to increase the number of quality hotels from 160 to 400 in the next decade.
               
              However, not everyone thinks that is the best course of action.
               
              "Iran is not ready for five-star hotels," says Ali Borhani, founder of Incubeemea, a Dubai-based strategy consulting firm. "Instead, focus should be shifted toward building three-star hotels, maybe four."
               
              His opinion is backed up by a report released last week by management advisory firm Sarcheshmeh, in which data on hotel occupancy rates from 2006 to 2015 clearly show that three-star hotels had a steady 55% to 60% occupancy rate in the period, which coincided with the crippling economic embargo that all but isolated Iran.
               
              On the other hand, four- and five-star hotels saw their numbers plummet, though they are recovering slowly.
               
              "Leisure tourists don't normally book five-star hotels; it's the business travelers that do," adds Behnam Sharafshahi, an associate at Incubeemea. 
               
              That may be something that officials are aware of, but little has been done to capitalize on that.
               
              Leisure and business tourists often wrestle for rooms during the Iranian month of Ordibehesht (April-May), which is favored for holding business conferences and exhibitions because of ideal weather conditions. The situation is so dire that even three-star hotels are usually fully booked.
               
              Experts believe that foreign leisure and business tourists will not have to worry about finding rooms, if those events are spread across the year.
               
                 Thinking Long Term
               
              Nevertheless, some hotel groups are considering bringing their five-star luxury brands.
               
              "We're looking at Iran as a long-term investment, so bringing our luxury brands is very much on the cards," says Suravut Thongthaem, senior vice president of Thai firm ONYX Hospitality Group, which owns the popular Oriental Residence brand.
               
              The sentiment is echoed by other hotel groups, namely Shaza and Minor, both based in Dubai, UAE.
               
              Shaza Hotels, an affiliate of the prestigious Kempinski Hotel chain, announced last year that it was targeting an Iranian market entry in the next five years.
               
              "I've been looking to enter the market for the past five years!" exclaimed Christian Nader, vice president for development at Shaza.
               
              "[Iran] is a great market with a lot of potential … We are very serious about coming here," added Ramzy Fenianos, vice president for development at Minor.
               
              Even though Mashhad—a city in northeastern Iran that is home to the shrine of Imam Reza (PBUH)—receives more than a third of Iran's inbound tourists, it does not top their list of target destinations.
               
              "We would open our first hotel in Tehran, because it's not about the number of tourist [at first], it's about the level of exposure only available in the capital city," Fenianos said.
               
              "Isfahan would be the second location," Nader chimed in.
               
              Industry insiders in Iran opine that foreign-branded five-star hotels would fare better than their Iranian counterparts, because unlike Iranian establishments, foreign hotels are truly five-star in terms of both room rates and services. 
               
              They are of the opinion that Iranian hotels will have to knock a star or two off their ratings once foreign brands establish a foothold in the country.
               
                 The Trump Factor
               
              Some tourism players in Iran are apprehensive about US President Donald Trump's anti-Iran rhetoric, worried that it could hamper the country's steady growth and deter investors from coming. But Trump's words may not carry weight with those that matter.
               
              "The nuclear deal is not legally binding; it's a gentlemen's agreement, so yes Trump could go back on it but the US wasn't the only country involved in signing the deal," said Antel, who is a partner at Berwin Leighton Paisner law firm.
               
              "Other countries now have business interests in Iran, so they're not going to risk losing their business, especially when they see Iran is sticking to the deal," he added.
               
              Luc Lejeune, managing director of Noor Design, dismissed Trump's possible impact.
               
              "Nobody cares what he says; we're here to do business," he said matter-of-factly.
               
              Financial Tribune
              08 February
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