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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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      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
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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
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          • 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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              Red Sea bridge creates expectations of increased Gulf investments in tourism sector

              Daily News Egypt

              May 5, 2016
              in Finance, Hospitality
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              Workers in the tourism sector expect an increase in tourist investments, especially in the Gulf of Aqaba across several touristic towns and cities such as Sharm El-Sheikh, Dahab, Nuweiba, and Taba thanks to the new agreement to build a bridge that links Egypt to Saudi Arabia over the Red Sea.

              The bridge will increase tourist flow between Arab countries as well as increasing hotel occupancies in the area which already has giant touristic resources, according to head of the Taba-Nuweiba Investors Association Samy Soliman.

              The tourism sector is currently required to hold special studies and marketing research for the post-bridge construction period, Soliman said. The areas of Nuweiba and Taba alone are able to attract investments worth more than EGP 30bn after the construction of the bridge is completed.

              “All studies concerned with the Riviera Taba-Nuweiba area are already with the Tourism Development Authority (TDA). There are investments right now. Some are open and working and others are either closed or under construction,” Soliman added.

              The estimated cost of the construction of the King Salman Bridge is $4bn, and its construction is expected to take about seven years.

              Current investments in the area of Taba-Nuweiba are worth more than EGP 10bn, according to Soliman. He added that the area is different from other touristic areas in South Sinai because it still lacks sufficient investments compared to Sharm El-Sheikh.

              The hotel capacity in Taba-Nuweiba is about 15,000 under-construction hotel rooms, out of a total of 60,000 hotel rooms in South Sinai.

              Soliman believes that the area is promising as it overlooks several countries, including Saudi Arabia, Jordan, and Egypt, which makes it similar in its touristic nature to certain areas of Europe.

              King Salman Bridge will play a major role in increasing the influx of Arab tourists, especially from the Gulf, to resorts in Sharm El-Sheikh, according to chairperson of the Tourism Committee in the Egyptian Businessmen’s Association Ahmed Balbaa.

              Arab tourism has drastically changed during the past period, as a large percentage of Gulf tourists are headed to other destinations that compete with Egypt in the region. However, the bridge will reduce travel times and facilitate the flow of families into the resorts of South Sinai, Balbaa said.

              Soliman said that Taba-Nuweiba alone is able to attract more than four million Arab tourists annually, compared to 1.7 million tourists in 2015.

              In 2015, the flow of Arab inbound tourism in Egypt achieved a 7% growth, compared to 2014.

              The number of tourists visiting Egypt in 2015 has declined to 9.3m tourists, compared to 9.9m in 2014, according to Soliman.

              He added that investments will not be limited solely to hotel and resorts establishments, as the area of Taba-Nuweiba will be announced a free-trade zone and the two cities will be combined together as one city.

              “We have requested that the Red Sea Ports Authority (RSPA) allocate a port for yacht tourism in the area in order to attract high-spending tourists,” he said.

              However, MP Amr Sedqy said that Egypt’s share of Arab tourism is still less than ideal. “If we had paid more attention to it, we would have achieved larger growth rates than the current ones,” he added.

              Sedqy believes that marketing for tourist resorts in Arab countries must be carried out according to new, modern techniques, especially considering the current conditions globally. Arab investments will be safer in Egypt than in any other western country so special attention must be paid to this, the MP said.

              Holding promotions to attract new investments in the tourism sector requires ease of access to the procedures by which approvals to set up investment projects are obtained, according to Sedqy. “The Tourism Ministry needs to initiate dialogues with Arab investors,” he added.

              Total investments in Egypt are worth EGP 68bn, however, Arab investments represent only 3% of these investments, according to data from the TDA.

              Sedqy believes that this percentage is quite small especially considering the giant capital that comes from Gulf countries to Europe. He believes that Egypt is more worthy of these investments.

              The MP called upon the TDA, which is the investment arm of the Tourism Ministry, to promote investment opportunities to businessmen without further delay. “The TDA must be present in all tourism fields in the world and must market its country,” he added.

              Sedqy explained that there are specific projects that must be available in towns and cities on the Red Sea coast, whether in South Sinai or Hurghada or any other touristic town. These include entertainment projects as well as infrastructure projects that serve resorts.

              Investing in these projects will increase tourists’ spending in Egypt, which could exceed $130bn, compared to current spending worth $70bn.
              Daily News Egypt
              5 May

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