Riyadh Expo 2030 to boost Saudi Arabia’s global presence

Special Philippe Blanchard, former director of the International Olympic Committee and a senior adviser to Dubai Expo 2020, emphasized the significance of the event for both Saudi Arabia as a whole and for Riyadh in particular. Photo/Supplied
Philippe Blanchard, former director of the International Olympic Committee and a senior adviser to Dubai Expo 2020, emphasized the significance of the event for both Saudi Arabia as a whole and for Riyadh in particular. Photo/Supplied
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Updated 09 February 2025
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Riyadh Expo 2030 to boost Saudi Arabia’s global presence

Riyadh Expo 2030 to boost Saudi Arabia’s global presence
  • Expert shares strategies for ensuring expo’s lasting impact on the world stage

RIYADH: Riyadh Expo 2030 will propel the Saudi capital onto the global stage through its innovative transformation “while being deeply rooted in its cultural essence,” said an international expert on mega events.

During an interview with Arab News, Philippe Blanchard, former director of the International Olympic Committee and a senior adviser to Dubai Expo 2020, emphasized the significance of the event for both Saudi Arabia as a whole and for Riyadh in particular. Drawing from his extensive experience in organizing major events, Blanchard also discussed the potential challenges and shared strategies for overcoming obstacles to ensure the event’s success.

Following are excerpts from the interview:

Based on your past experience, how can Riyadh benefit from the event on the global stage?

We need to bear in mind that a mega event is not merely an “event,” it is a narrative unfolding before our eyes. I witnessed this over the last 33 years, since my very first Games in 1992.

The Saudi Vision 2030 is about holistic transformation — economic, cultural, and social. Riyadh Expo was designed to be a canvas where each stroke of innovation, sustainability, and cultural exchange will paint Riyadh not just as a participant but as a protagonist in the global theatre.

It is about forging a new identity for the city, one that resonates with a global audience while being deeply rooted in its cultural essence. But all this needs to be extremely fine-tuned on the organization side. Very precise (and shared) objectives, clear deliverables are required to ensure the narrative reaches the global audience and creates the necessary impact. Riyadh and Saudi Arabia have gone through a tremendous transformation. Expo is a fantastic opportunity to take it to the world.

What are the key challenges in managing the event and in coordinating with the Bureau International des Expositions and its member states?

Whether it is about an Olympics or a World Expo, the challenge for the host territory is like navigating a vast, complex ecosystem, with many different stakeholders.

On the one hand, coordinating with the BIE, the governing body in charge of overseeing and regulating World Expos, involves adhering to strict guidelines and protocols, ensuring the event’s integrity and international standards.

On the other hand, there’s also the intricate diplomacy with the BIE member states, each with their unique expectations and contributions. It’s like conducting an orchestra where every instrument is from a different part of the world, each with its own melody. The synchronization required is immense — balancing the Kingdom’s vision with the practicalities of dozens of countries investing resources, time, and cultural narratives into the event.

In my career, I witnessed several situations in which countries got this part wrong and could not catch up after this. It was dramatic as a lot of energy and money had been invested in the preparation and the infrastructure. But missing the steps results in low attendance and buy-in from the member states. It also leads to disengagement from national stakeholders.

How can Riyadh ensure that this event retains its “human touch” and heritage amid logistical and temporal pressures, especially given the diverse set of international stakeholders?

Here’s where the art of complexity management becomes crucial. Listening is paramount — to the expectations and aspirations of the local communities as well as the ambitions of international participants.

The human touch is preserved through empathy and negotiation, ensuring every voice is heard and every culture is respected. Shanghai 2010, Milan 2015, and Dubai 2020 have taught us that when participants feel like co-authors of the event’s story, the event transcends from mere spectacle to a profound human experience. It’s about ensuring that amidst the steel and concrete, the heart of the event — the human story — continues to beat strongly.

Over the years and experience, specific frameworks and guidelines have been developed to ensure the right results.

How can Riyadh balance the high expectation following the BIE vote with the practicalities of execution?

This balancing act is where the vision must meet the ground. The initial bid was a dream, a promise to the world. Now, it’s about translating that promise into tangible reality. This involves a continuous dialogue — not just between the vision of the bid and the feedback from stakeholders, but also between the Kingdom’s expectations, the BIE’s requirements, and the capabilities of member states.

Resource allocation must be strategic, ensuring infrastructure supports but does not overshadow the cultural and human exchange. Like a desert blooming, it’s about fostering growth where every participant’s contribution, from the smallest cultural exhibit to the grandest architectural marvel, is vital.

How does the interaction with the BIE and its member states complicate or enhance the legacy planning for the Riyadh Expo 2030?

Interaction with the BIE and member states is a double-edged sword in legacy planning. On the one hand, the BIE provides a framework for excellence and accountability, guiding the event towards lasting impacts.

On the other hand, the diverse interests of member states lead simultaneously to a rich tapestry of legacies — economic, cultural, and educational — and also to potential conflicts in vision and resource allocation.

The key is in harmonizing these interests into a cohesive strategy where the legacy is not just about the physical remnants but about the societal transformations that continue long after the event. Success will be when these legacies resonate like the echo of a well-played symphony, long after the last note has faded.

 


Riyadh Air to launch new destination every 2 months as 787 deliveries near

Riyadh Air to launch new destination every 2 months as 787 deliveries near
Updated 20 sec ago
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Riyadh Air to launch new destination every 2 months as 787 deliveries near

Riyadh Air to launch new destination every 2 months as 787 deliveries near

RIYADH: Saudi Arabia’s Riyadh Air is gearing up to introduce a new international destination every two months once it begins operations, as the carrier prepares to receive its first Boeing 787 aircraft. 

Riyadh Air, fully owned by the Public Investment Fund, is awaiting delivery of its initial aircraft to commence services, according to CEO Tony Douglas. 

Speaking to Bloomberg, he said the airline requires two jets to initiate a round-trip route to each new destination. Douglas added that Riyadh Air aims to connect to 100 cities by 2030 as part of its long-term growth strategy. 

This aligns with the Saudi Aviation Strategy, which targets doubling passenger capacity to 330 million annually from over 250 global destinations and increasing cargo handling to 4.5 million tons by 2030. 

The carrier currently has four Boeing 787 Dreamliners in different stages of assembly at Boeing’s facility in Charleston, South Carolina. Operations are expected to begin once the first two aircraft have been delivered. 

Riyadh Air had initially planned to launch services in early 2025, but delays in aircraft handovers from Boeing have pushed back the timeline. 

“The fact that these are in production probably brings my blood pressure down,” Douglas said. “I will actually not believe they’ve been delivered until the day after they’ve been delivered.” 

Douglas also confirmed that Riyadh Air has secured the necessary landing slots for its first destinations, though he did not disclose which cities they are. 

At the Paris Air Show this week, the airline announced an order for up to 50 Airbus A350 long-range jets, with deliveries expected to begin in 2030. 

Riyadh Air has also placed orders for 60 Airbus A321neo narrowbody aircraft and as many as 72 Boeing 787s, including options. 

Commenting on the Airbus order, Douglas said the decision was based on the aircraft’s capabilities and favorable commercial terms when compared with Boeing’s 777X model. “It was a very close call,” he noted, as reported by Bloomberg. 

The airline’s growth strategy reflects the Kingdom’s ambition to transform Riyadh into a global travel hub and position Saudi Arabia as a major player in international aviation. 

Riyadh Air aims to contribute to the broader Vision 2030 goals by enhancing connectivity and promoting tourism across the Kingdom. 


Saudi-based TIME Entertainment makes Nomu market debut

Saudi-based TIME Entertainment makes Nomu market debut
Updated 7 min 34 sec ago
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Saudi-based TIME Entertainment makes Nomu market debut

Saudi-based TIME Entertainment makes Nomu market debut

RIYADH: TIME Entertainment Co., a Saudi-based full-service live events and experiences management company, has officially begun trading on the Nomu parallel market, marking a significant step in its growth trajectory.

Chairwoman Ameera Al-Taweel described the listing as a strategic milestone that underscores the company’s maturity and readiness for future expansion.

TIME’s listing comes as part of broader efforts by Saudi Arabia to expand investor participation in the Nomu market. In 2024 alone, Nomu has seen 28 IPOs and three direct listings, raising about SR1.1 billion ($293 million).

“We have built a Saudi business model within the live events sector that meets global standards. The events sector is vast and diverse. Our experience represents a successful model that has been built based on a global vision, capped with a Saudi identity, and is distinguished by specializing in producing and organizing major live events managed by a multi-skilled team of some of the best events professionals globally.” Al-Taweel said in a statement. 

Al-Taweel also highlighted the company’s role as a trusted partner to government, semi-government, and private sector clients. “We believe that we represent a national choice that executes major global events and constantly works,” she added.

CEO Obada Awad said the company is guided by a strategy rooted in sustainable growth and market responsiveness.

“We also place significant emphasis on sustainable operational improvement and diligent work to develop and launch premium and quality services that add real value to the market,” he said.

TIME Entertainment specializes in producing large-scale live events across sectors such as sports, entertainment, culture, tourism, and conferences. It offers end-to-end production and management services, in addition to creative and consultancy expertise.

The company is also focused on crafting distinctive narratives grounded in Saudi culture and heritage, with the aim of sharing them with global audiences. Its goal is to deliver innovative, artistically rich, and high-quality experiences.

Saudi Arabia’s entertainment sector is rapidly emerging as a key pillar of the Kingdom’s economic diversification agenda. As the country moves away from its traditional reliance on oil, strengthening the entertainment industry is seen as critical to driving growth across multiple sectors.

A recent report by consultancy AlixPartners found that 33 percent of Saudi consumers plan to increase spending on out-of-home entertainment — well above the global average of 19 percent — highlighting strong local demand.


Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals

Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals
Updated 38 min 34 sec ago
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Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals

Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals

RIYADH: Aviation investment opportunities worth more than SR10 billion ($2.6 billion) were set out at high-level Saudi-French meeting amid a flurry of deals aimed at strengthening the sector.

Airport infrastructure, air navigation, and advanced technologies were among the areas flagged up as available for investment during a roundtable held on the sidelines of the 55th Paris Air Show.

The agreements signed covered strengthening ground support capabilities, localizing technology, and advancing workforce training, and involved Saudi Ground Services Co., France’s Alvest Group, and Arabian Alvest Equipment Maintenance Co., the Saudi Press Agency reported. 

The deals come as Saudi Arabia and France deepen economic ties, with non-oil trade exceeding SR20 billion ($5.33 billion) in 2024. The relationship was reinforced during President Emmanuel Macron’s December visit, where both sides endorsed a strategic partnership roadmap and signed a memorandum of understanding to establish a Strategic Partnership Council. 

The roundtable was chaired by Abdulaziz bin Abdullah Al-Duailej, president of the General Authority of Civil Aviation, and brought together more than 65 Saudi and French public and private sector entities, including CEOs, aviation safety officials, and specialists across airports, services, and infrastructure. 

“The meeting highlighted the Kingdom’s Vision 2030 objectives to achieve economic diversification, and its keen interest in empowering the private sector and building global industrial partnerships,” the SPA report stated. 

It added: “The meeting also highlighted the National Aviation Strategy and its focus on developing the aviation industry, making it a top priority sector.” 

Saudi Ground Services Co.’s MoU with Alvest Group and Arabian Alvest Equipment Services Co. involves localizing smart, eco-friendly technologies for ground equipment, along with all related maintenance and technical support services. A separate MoU with the same partners was signed to offer training programs and an accredited diploma in technical services and ground equipment maintenance. 

The discussions also explored future challenges in global aviation, emphasizing the need for joint strategic efforts in innovation, sustainability, and infrastructure development. 

Also at the Paris Air Show, Saudi firm Cluster2 Airports signed an MoU with Airbus to deploy advanced digital solutions aimed at improving operational efficiency, security, and integration across all airports under its network.

The partnership includes the introduction of smart technologies such as Airbus’ Agnet Turnaround platform, an advanced system that enables real-time coordination of airport ground operations. 

The latest agreements support the National Aviation Strategy, under which the Kingdom aims to expand capacity to 330 million passengers and 4.5 million tonnes of cargo annually by 2030, connecting to over 250 global destinations. 


UAE receives ‘AA/A-1+’ rating thanks to robust growth: S&P Global

UAE receives ‘AA/A-1+’ rating thanks to robust growth: S&P Global
Updated 6 min 8 sec ago
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UAE receives ‘AA/A-1+’ rating thanks to robust growth: S&P Global

UAE receives ‘AA/A-1+’ rating thanks to robust growth: S&P Global

RIYADH: S&P Global has assigned the UAE “AA/A-1+” foreign and local currency sovereign credit ratings with a stable outlook as it expects strong fiscal and external positions to be maintained over the next two years.

In its latest report, the global credit rating agency said that the grades reflect the Emirates’ net asset position, which could provide a buffer to counteract the effects of oil price swings and geopolitical tensions in the Gulf region. 

According to the agency, “AA” indicates a country’s strong capacity to meet its financial commitments. 

The strong rating of the UAE aligns with the broader trend observed in the Middle East region, and in March, S&P Global raised Saudi Arabia’s rating to “A+” from “A” with a stable outlook underpinned by the Kingdom’s ongoing social and economic transformation. 

In its latest report, the US-based agency said: “The stable outlook reflects our expectation that the UAE’s consolidated fiscal and external positions will remain strong over the next two years, amid continued prudent policymaking and resilient economic growth.”

This is the first time S&P has issued a consolidated sovereign credit rating for the entire UAE, as opposed to the individual emirates.

Non-oil sector to drive growth

S&P Global added that the UAE’s economic growth is expected to remain resilient at 4 percent over 2025-2028, driven by strong non-oil sector performance and a rise in activities. 

“Despite lower oil prices and headwinds from a global economic slowdown, we expect that continued fiscal surpluses at the consolidated federal government and individual emirates level, along with investment income on liquid assets, will support an increase in the net asset position to an estimated 177 percent of GDP (gross domestic product) through 2028,” the report said. 

S&P Global further said that the UAE government’s fiscal surpluses are expected to average around 3.2 percent of GDP through 2028, based on assumptions that Brent oil prices will stay around $60 per barrel in 2025 and $65 per barrel through 2028. 

Government debt will remain stable at about 28 percent of GDP over the next four years as the federal government and emirates, including Abu Dhabi, plan to issue local currency debt to develop domestic capital markets. 

According to the report, the country will have limited monetary flexibility given that the dirham is pegged to the US dollar. 

“This means the UAE’s monetary policy is closely aligned with that of the US Federal Reserve, regardless of domestic economic conditions. We also consider that the domestic local currency bond market remains underdeveloped compared with similarly rated peers,” added S&P Global. 

The report comes just days after an economic update prepared by the Institute of Chartered Accountants in England and Wales, in association with Oxford Economics, said that the economy of the UAE is projected to expand by 5.1 percent in 2025, driven by a recovery in oil output and a 4.7 percent rise in non-oil GDP, with tourism expected to emerge as a key element propelling this growth. 

Earlier this month, the Central Bank of the UAE revealed that the Emirates’ GDP reached 1.77 trillion dirhams ($481.4 billion) in 2024, recording 4 percent growth, with non-oil sectors contributing 75.5 percent of the total. 

CBUAE added that the Emirates is expected to witness economic growth of 4.5 percent in 2025 before accelerating further to 5.5 percent in 2026.

The latest S&P Global analysis further said that the UAE’s oil production is projected to rise to about 3.5 million barrels per day by 2028, up from slightly less than 3 million in 2024, while the Ghasha gas and Ruwais liquefied natural gas are expected to significantly enhance Abu Dhabi’s production capacity.

The non-oil growth in the Emirates will be underpinned by public investment and government efforts to diversify the economy, combined with increasing trade and foreign investment. 

“Projects such as the Saadiyat cultural district and Disney Park in Abu Dhabi, and the Wynn integrated resort in Ras Al Khaimah seek to boost tourism revenue,” added the analysis. 

Affirming the growth of tourism in the country, a report released in April showed that Dubai recorded a 3 percent annual increase in international visitor numbers to 5.31 million in the first quarter of this year. 

According to the data released by the Dubai Department of Tourism and Commerce Marketing, the city also attracted 18.7 million international tourists in 2024, representing a 9 percent rise compared to the previous year. 

S&P Global added that the UAE would be modestly affected by the proposed 50 percent US tariff on steel and aluminum if no agreement is reached, as these metals accounted for 4.3 percent of the Emirates’ non-oil outbound shipments in 2023. 

In 2023, the UAE exported approximately $1.4 billion worth of steel and aluminum products to the US, representing about 0.3 percent of its GDP.

The study further noted that the UAE has also introduced structural measures to enhance the business environment, which include a foreign direct investment law that permits foreign investors to fully own businesses in various sectors, as well as rules to liberalize personal and family law.

Another initiative is the Golden Visa Program, aimed at supporting talent retention by granting long-term residency to investors, entrepreneurs, and skilled professionals.

“We anticipate that these measures will increase labor market flexibility, investment, and foreign worker inflows. This will be balanced by the nationalization of the workforce, or ‘Emiratization’ policies,” added S&P Global.

Future outlook

The analysis further stated that the UAE’s credit rating could be upgraded in the future if Emirates implements significant measures to improve the effectiveness of monetary policy, such as establishing a deep domestic capital market. 

However, the rating could be downgraded if the UAE’s per capita wealth, currently at $47,000, starts declining due to lower economic growth or higher population inflows. 

“Downside pressure could also arise if the consolidated government interest burden were to increase materially because of higher borrowing, alongside elevated external financing needs,” added the report.


Saudi POS spending stabilizes at $2.96bn despite post-Eid Al-Adha sectoral declines: SAMA 

Saudi POS spending stabilizes at $2.96bn despite post-Eid Al-Adha  sectoral declines: SAMA 
Updated 18 June 2025
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Saudi POS spending stabilizes at $2.96bn despite post-Eid Al-Adha sectoral declines: SAMA 

Saudi POS spending stabilizes at $2.96bn despite post-Eid Al-Adha  sectoral declines: SAMA 
  • POS transaction values fell 21.3% from the previous week
  • Spending in restaurants and cafes accounted for the largest share at SR1.80 billion

RIYADH: Saudi consumer spending via point-of-sale terminals remained resilient at SR11.11 billion ($2.96 billion) in the week ending June 14, even as transactions declined across all major sectors, official data showed. 

The latest weekly report from the Saudi Central Bank, known as SAMA, showed that POS transaction values fell 21.3 percent from the previous week, while the number of transactions dropped 10.7 percent to 203.78 million. 

The prior week, ending June 7, saw a spending peak of SR14.12 billion, driven by elevated Eid Al-Adha holiday consumption. 

The contraction in weekly spending comes amid normalization following the Eid surge, but underlying consumer momentum remains intact — supported by Vision 2030 reforms aimed at digitizing payments and promoting a cashless economy. 

According to the SAMA report, spending in restaurants and cafes accounted for the largest share of POS transactions at SR1.80 billion, though it saw a 12.4 percent decline from the previous week. 

The food and beverage category remained another hotspot for POS activity, with transactions amounting to SR1.72 billion, also marking a decline of 18.7 percent. 

Transactions in the miscellaneous goods and services category dropped 27.8 percent, reaching SR1.27 billion. 

Spending at gas stations declined 6 percent week on week to SR857.45 million, while transactions in the clothing and footwear category fell 51.4 percent to SR655.95 million. 

Affirming the steady momentum of infrastructure development in the Kingdom, POS spending in the construction sector stood at SR242.10 million, registering a marginal decline of 2.6 percent. 

Geographically, Saudi Arabia’s capital, Riyadh, led POS transactions, recording SR3.58 billion. However, transaction values in the city declined by 22.2 percent compared to the previous week. 

Jeddah followed with a 14.3 percent decrease to SR1.59 billion, while Dammam came third with transactions totaling SR526.12 million. 

Hail experienced the most significant decline in spending, dropping 28.3 percent to SR182.14 million, followed by Tabuk, which saw a 27.5 percent reduction to SR197.60 million. 

POS spending in Makkah declined 4.9 percent to SR517.62 million. In Madinah, transactions stood at SR457.70 million, reflecting a 22.7 percent weekly decline. 

In Alkhobar, the value of transactions amounted to SR311.51 million, a drop of 2.19 percent, while Abha registered SR154.01 million in POS value, marking a 21.4 percent decline. 

The continued momentum in POS activity underscores Saudi Arabia’s steady transition toward a cashless economy, in alignment with one of the core objectives of the Financial Sector Development Program under Vision 2030.