Water parks set to make a splash with international tourists, experts say

The vast potential of water parks in Saudi Arabia is also evident in the recently announced Aquarabia at Qiddiya City, which will be the largest such attraction in the world. (Aquarabia Qiddiya City)
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Updated 22 September 2024
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Water parks set to make a splash with international tourists, experts say

  • Saudi Arabia on track to have 320,000 new hotel rooms to accommodate the projected influx of tourist

RIYADH: Investments in water parks are set to bolster Saudi Arabia’s tourism sector, as the Kingdom eyes attracting over 150 million visitors by the end of the decade, experts said.

Aligned with the Kingdom’s Vision 2030 economic diversification efforts, Saudi Arabia is also on track to have 320,000 new hotel rooms to accommodate the projected influx of tourists.

According to experts, apart from developing mega cities and heritage sites, the tourism sector will be equally benefited if water parks of international standards are developed in the Kingdom.

Speaking to Arab News, Devanshu Mathur, managing director and partner at Boston Consulting Group said that the emergence of these aquatic attractions will diversify the Kingdom’s entertainment offerings, attracting a broad range of visitors, domestic and international.

“In neighboring countries like UAE and Qatar, water parks have proven to be powerful tourist magnets, drawing millions of visitors and boosting their economies,” said Mathur.

He added: “One of the key advantages of water parks in the Middle East is their ability to provide year-round entertainment, making them highly attractive to visitors seeking respite from the heat. This potential is already evident in Saudi Arabia’s thriving mid-scale water park scene.”




Devanshu Mathur, managing director and partner at Boston Consulting Group said that the emergence of these aquatic attractions will diversify the Kingdom’s entertainment offerings. (Supplied)

Mathur also noted that facilities such as Water Village and the recently launched Cyan Water Park in Jeddah showcase the strong domestic appetite for water-based entertainment in the Kingdom.

The vast potential of water parks in Saudi Arabia is also evident in the recently announced Aquarabia at Qiddiya City, which will be the largest such attraction in the world.

BCG also noted that their recent survey indicated the popularity of water parks among Saudis.

According to the survey, over 70 percent of the Kingdom’s residents are interested in visiting water parks, indicating the mammoth potential of this sector in contributing to the county’s gross domestic product.

The vitality of including of aquatic amenities in resorts

As Saudi Arabia aims to position itself as a global tourist destination, experts believe that the rising number of visitors reaching the Kingdom could create tough competition among resorts, and additional aquatic amenities in these facilities will give them a cutting edge over others.

A joint study conducted by water park designer WhiteWater and Hotel & Leisure Advisers noted that the inclusion of these attractions will increase guest satisfaction and financial success of hotels and resorts.

“With a surge in visitors to the Kingdom anticipated, properties across the country have a unique opportunity to stand out from the crowd by strategically planning their amenities from the ground up,” said WhiteWater in a statement.

It added: “Neighboring destinations like Dubai and Qatar offer valuable insights, highlighting the power of well-designed aquatic features in attracting families, enhancing guest satisfaction, and driving positive financial results.

“As Saudi Arabia establishes itself as a major tourist hub, incorporating aquatic attractions could be a strategic decision, propelling the industry toward continued success.”

The report highlighted that hotels in the Middle East region featuring water parks achieved an average revenue per available room level 53 percent higher than the regional figure.

According to the analysis, some of the amenities which resorts and hotels could try to incorporate into their facilities include water slides, rides, wave pools, splash pads, surf simulators, and multi-level play structures.

Jeremy Gray, vice president for business development at WhiteWater, said: “These attractions enhance guest satisfaction and create unique selling points, setting these properties apart in a competitive market.

“The significant uptick in occupancy and revenue metrics underscores the value of investing in such features. Water-based attractions attract families and thrill-seekers, translating into tangible financial benefits for the hotels.”

The report also highlighted an example of success which happened in Atlantis Dubai, which features over 2,300 rooms with additional villas.

According to the analysis, after the opening of Adventure World in 2008 Atlantis Dubai was able to fund its expansions through the profits of its investment in the park, along with attracting repeated guests.

“In 2023, the water park attracted 35-40 percent of visitors from the connected hotels and 60-65 percent from tourists and residents who purchased day passes for an approximate attendance of 1.8 million over the year,” the report said about Atlantis Dubai.

Mathur also echoed similar views and noted that an integrated resort accommodation within the water parks could positively impact their profitability.

“Integrated on-site accommodations is a game-changer for water parks, turning them into comprehensive leisure destinations. This approach invites visitors to extend their stay and significantly boosts spending. For example, Dubai’s Atlantis the Palm is a prime example of how integrated resorts can captivate local and international audiences,” noted the BCG official.

Steps to elevate the appeal of water parks

Mathur told Arab News that Saudi Arabia must integrate a set of key amenities that not only elevate visitor satisfaction but encourage longer stays and broaden the parks’ appeal to transform these sites into world-class destinations.

According to the BCG official, developing an enhanced kid zone is one of the crucial things which can be incorporated into these facilities to attract more families.

“While almost all waterparks have a dedicated traditional kids’ zone with a few kids’ splash pools and play structures, the current trend among leading global water parks is to have enhanced zones with sophisticated and miniaturized versions of rides and slides,” said Mathur.

He added: “Splashers Lagoon & Cove at Aquaventure in the UAE or Turi’s Kid Cove at Aquatica in the US are great examples of how enhanced kids’ zones can help create an inclusive environment appealing to all ages, attracting and retaining family visitors.”

According to Mathur, another way to enhance the appeal of water parks in the Kingdom is by offering diverse dining and retail experiences.

He noted that a wide array of dining options and retail outlets are essential to enriching the visitor experience, catering to diverse tastes and preferences, and creating additional revenue streams.

“For instance, Qatar’s Desert Falls Water & Adventure Park, nestled within the Hilton Salwa Beach Resort, demonstrates how well-curated dining and shopping venues can enhance guest engagement and satisfaction beyond the water attractions themselves,” said Mathur.

The BCG official added: “These enhancements are essential to create memorable experiences, encourage repeat visits, and establish the parks as must-visit destinations.”


Egypt’s exports to Lebanon up 43.8% across 2024: CAPMAS

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Egypt’s exports to Lebanon up 43.8% across 2024: CAPMAS

RIYADH: The value of Egyptian exports to Lebanon saw a 43.8 percent year-on-year surge in 2024 to reach $762.8 million, according to new figures.

Data from Egypt’s Central Agency for Public Mobilization and Statistics also showed that imports from the Middle Eastern country declined by 2.3 percent, totaling $237.7 million during the same period.

These shifts in trade come amid broader economic trends. The region’s gross domestic product grew by 1.8 percent in 2024, reaching $3.6 trillion despite ongoing challenges, according to a March report by the Arab Investment and Export Credit Guarantee Corporation, or Dhaman.

Looking ahead, this economic momentum appears set to continue. Moody’s projects 2.9 percent growth for the region in 2025, up from 2.1 percent in 2024, while maintaining a stable outlook for the region’s sovereign credit fundamentals over the next 12 months.

The newly released CAPMAS report revealed there was “an increase in the value of trade exchange between Egypt and Lebanon, reaching $1 billion in 2024, compared to $774 million in 2023, an increase of 29.3 percent.”

The main export groups of goods to Lebanon during 2024 included fuels, mineral oils, and distillation products worth $215 million, iron and iron products worth $65 million, and cement worth $55 million.

The value of fruits and vegetable exports stood at $48 million, while sugar and sugar products were worth $41 million. 

As for the main import groups of goods from Lebanon during the same year, they entailed iron and iron products worth $118 million, fruits and vegetables worth $72 million, and electrical appliances and equipment worth $22 million.

The value of plastics imports stood at $4 million, while dyeing and coating extracts were also worth $4 million.

The CAPMAS data also shed light on how the value of Lebanese investments in Egypt amounted to $51.2 million during the fiscal year 2023/2024, compared to $51.4 million during the fiscal year 2022/2023.

Egyptian investments in Lebanon amounted to $9.7 million during the fiscal year 2023/2024, compared to $7.9 million during the fiscal year 2022/2023.

“The value of remittances from Egyptians working in Lebanon amounted to $42.9 million during the fiscal year 2023/2024, compared to $38.1 million during the fiscal year 2022/2023, while the value of remittances from Lebanese working in Egypt amounted to $3.5 million during the fiscal year 2022/2023, compared to $3.7 million during the fiscal year 2022/2023,” the CAPMAS report added.

According to estimates, the number of Egyptians residing in Lebanon reached 11,300 by the end of 2023, the report concluded.


Invest Qatar launches $1bn incentive program to accelerate investment

Updated 25 min 42 sec ago
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Invest Qatar launches $1bn incentive program to accelerate investment

  • Move was announced during the 5th Qatar Economic Forum
  • Program offers financial packages for local and international investors covering up to 40% of expenses

DUBAI: Investment promotion agency Invest Qatar has launched a $1 billion program aimed at accelerating investment inflows and boosting diversification of the Qatari economy, it said on Wednesday.
Announced during the 5th Qatar Economic Forum, the program offers financial packages for local and international investors covering up to 40 percent of expenses such as setup costs, construction, leases and staff for a five-year period.
It said the first phase of the program will offer four off-the-shelf packages designed to stimulate fresh investment, support the expansion and digitization of existing facilities, create high-skilled employment, and promote knowledge transfer.
The Advanced Industries Package targets high-value, technology-intensive sectors such as pharmaceuticals, chemicals, automotive, and electronics.
The Logistics Package encourages investments in infrastructure, automation and advanced logistics services, while the Technology Package seeks to develop the digital economy through support for cybersecurity, cloud computing, artificial intelligence and data-driven innovation.
The Lusail financial services package aims to advance fintech, insurance, asset and wealth management, while incentivising firms to establish offices in Lusail, the country’s main financial district.


Kuwait sovereign wealth fund head says investors reduce US exposure at their ‘own risk’

Updated 39 min 11 sec ago
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Kuwait sovereign wealth fund head says investors reduce US exposure at their ‘own risk’

DOHA: The head of the Kuwait Investment Authority, which manages almost $1 trillion in assets, said the sovereign wealth fund is committed to investing in the US and that investors cut allocations to US assets at their own risk.
Some global investors have ditched US assets in recent weeks on fears that US President Donald Trump’s overhaul of global trade may hurt the US economy, and could cause deeper long-term damage.
The trend looks set to continue, given that a record number of managers have said they plan to keep cutting their exposure to US assets, according to BofA research.

Kuwait has been investing in the US market for a “long time” and that “won’t change,” KIA Managing Director Sheikh Saoud Salem Abdulaziz Al-Sabah said at an investment conference in the Qatari capital on Wednesday.
“I would say it very bluntly, underweight America at your own risk,” he said.
Last week, Moody’s downgraded the US sovereign credit rating by one notch, citing concerns about the nation’s growing $36 trillion debt pile, which could make investors more cautious and drive up borrowing costs across the economy.
“They (investors) are merely looking at equity markets, but they’re not taking into fact the US has the largest fixed income market, the US has the largest private equity market, the real estate market, infrastructure and credit,” Al-Sabah said.
“I think the US has the breadth and depth to sustain its exceptionalism and it has the rule of law as well,” he said.


Jewelry spending up 13% in Saudi Arabia as weekly POS stays above $3.2bn: SAMA

Updated 21 May 2025
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Jewelry spending up 13% in Saudi Arabia as weekly POS stays above $3.2bn: SAMA

RIYADH: Jewelry spending in Saudi Arabia rose by 13.2 percent between May 11 and 17 compared to the previous week, adding SR330.4 million ($88 million) to point-of-sale transactions during this period. 

The latest data from Saudi Arabia’s central bank, SAMA, revealed that it was one of only two sectors to record growth during the period, with education also posting an increase of 1.4 percent to SR164.6 million. 

The Kingdom’s overall POS transactions saw a 5.5 percent dip to SR12.3 billion in the seven-day period, driven by decreased spending across most of the sectors. 

Hotels spending saw the biggest drop, dipping by 18.1 percent to SR218.2 million. Clothing and footwear expenditure followed, falling by 10.4 percent to SR688.2 million, while recreation and culture saw a 9.3 percent decrease, totaling SR229.4 million. 

The smallest expenditure drop was in spending on construction and building material and gas stations, down by 1.7 percent each to SR330.1 million and SR929.7 million, respectively. 

The health sector declined by 4.8 percent to SR790.1 million, while public utilities dropped 4.3 percent to SR47 million. 

Electronics followed the trend, dropping 4.5 percent to SR1653.8 million, and furniture edging down by 3.7 percent to SR261.8 million. 

The telecommunication sector dropped by 5.5 percent in transaction value to SR98.3 million. Food and beverage spending decreased by 4.7 percent to SR1.8 billion, accounting for the largest share of the week’s POS. 

Restaurants and cafes accounted for the second-biggest share at SR1.7 billion, followed by miscellaneous goods and services at SR1.5 billion. 

The top three categories accounted for 41.1 percent of the week’s total spending, amounting to SR5 billion. 

Geographically, Riyadh dominated POS transactions, with expenditure in the capital reaching SR4.5 billion — a 3.4 percent decrease from the previous week. 

Jeddah followed with a 7 percent dip to SR1.7 billion, while Dammam ranked third, down 5.7 percent to SR640.5 million. 

Makkah saw the biggest decrease, inching down 20.6 percent to SR393.3 million, followed by Abha with a 9.7 percent downtick to SR153.5 million. 

In transaction volume, Hail recorded 3.7 million deals, down 2 percent, while Tabuk reached 4.7 million transactions, up by 0.2 percent. 


Oil Updates — crude gains as reports Israel may attack Iran raise supply worries

Updated 21 May 2025
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Oil Updates — crude gains as reports Israel may attack Iran raise supply worries

  • US intelligence suggests Israel plans to strike Iran, CNN says
  • US-Iran nuclear talks show little progress, impacting oil market

SINGAPORE: Oil prices gained more than 1 percent on Wednesday after reports of Israel preparing a strike on Iranian nuclear facilities raised fears that a conflict could upset supply availability in the key Middle East producing region.

Brent futures for July rose 68 cents, or 1.04 percent, to $66.06 a barrel, by 9:30 a.m. Saudi time. US West Texas Intermediate crude futures for July climbed 70 cents, or 1.1 percent, to $62.73.

New intelligence obtained by the US suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on Tuesday, citing multiple US officials familiar with the matter.

It was not clear whether Israeli leaders have made a final decision, CNN added, citing the officials.

“Such an escalation would not only put Iranian supply at risk, but also in large parts of the broader region,” said ING commodities strategists on Wednesday.

Iran is the third-largest producer among the members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset flows from the country.

There are also concerns Iran could retaliate by blocking oil tanker flows through the Strait of Hormuz choke point in the Gulf, through which Saudi Arabia, Kuwait, Iraq and the UAE export crude oil and fuel.

The US and Iran have held several rounds of talks this year over Iran’s nuclear program, with US President Donald Trump reviving a campaign of stronger sanctions on Iranian crude exports to compel them to give up their nuclear aspirations.

Despite the discussions, US officials and the Iranian Supreme Leader Ayatollah Ali Khamenei made comments on Tuesday indicating both sides remain far from a resolution.

“There are indirect nuclear talks between the US and Iran, which, if successful, could give the market further upside. However, these talks appear to be running out of steam,” the ING analysts said.

Still, there were some signs of improving crude supply. US crude oil stocks rose last week while gasoline and distillate inventories fell, market sources said, citing American Petroleum Institute figures on Tuesday.

Crude stocks in the US, the world’s biggest oil consumer, rose by 2.5 million barrels in the week ended May 16, the sources said on condition of anonymity.

Investors are looking ahead to government US oil stock data from the Energy Information Administration later on Wednesday.

Also, Kazakhstan’s oil production has risen by 2 percent in May, an industry source said on Tuesday, an increase that defies pressure from OPEC+ on the country to reduce its output.