Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination

Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination
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Sheikh Zayed Palace Museum, also known as Al-Ain Palace Museum, in Al Ain of Abu Dhabi emirate. (Supplied)
Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination
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Above, kayaking at Louvre Abu Dhabi on Saadiyat Island. (Supplied)
Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination
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Above, the National Aquarium in Abu Dhabi. (Supplied)
Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination
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Above, Warner Bros. World Abu Dhabi, the world's largest indoor theme park. (Supplied)
Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination
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Above, women doing handicraft at Al-Qattara Arts Centre, an art and heritage destination allowing visitors to view art and experience it through art and creativity lessons. (Supplied)
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Updated 04 April 2024
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Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination

Tourism Strategy 2030 delivered by DCT Abu Dhabi to catapult emirate as a top tourism destination

Sheikh Khaled bin Mohamed bin Zayed Al-Nahyan, crown prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council, has approved the new “Tourism Strategy 2030” for the emirate. Spearheaded by the Department of Culture and Tourism — Abu Dhabi, the ambitious blueprint signals a new era of expansion and strategic development in the travel and tourism sector.

The strategy seeks to boost visitor numbers from nearly 24 million in 2023 to 39.3 million by 2030 (overnight and same-day), with a 7 percent year-on-year growth. Moreover, it plans to significantly elevate the tourism and travel sector’s contribution to the UAE’s GDP, raising it from approximately 49 billion dirhams ($13.3 billion) in 2023 to 90 billion dirhams annually by 2030.

The strategy will generate an estimated 178,000 new jobs by 2030 as the entire tourism infrastructure develops to meet this demand. It intends to almost double international overnight visitors from 3.8 million in 2023 approximately to 7.2 million in 2030, expand hotel room availability from 34,000 in 2023 to 52,000 by 2030, and further enhance the holiday home segment to diversify accommodation options.

Mohamed Khalifa Al-Mubarak, chairman of DCT Abu Dhabi, said: “The Tourism Strategy 2030 marks a pivotal moment in Abu Dhabi’s transformative journey, representing a vital lever in our ongoing evolution. Delivered alongside our key partners, the strategy underscores our steadfast commitment to fostering sustainable growth and strategic development in the travel and tourism sector. Through carefully crafted initiatives that will unlock economic opportunities, amplify our distinctive culture and enhance the emirate’s value proposition, we are laying the foundation for a vibrant and prosperous future that transcends generations.”

Fostering sustainable growth across four strategic pillars

To achieve the strategy’s goals, 26 key initiatives have been identified across four strategic pillars: Offering and City Activation; Promotion and Marketing; Infrastructure and Mobility; and Visa, Licensing, and Regulations. These pillars form the foundation of Abu Dhabi’s comprehensive approach to realizing its ambitious tourism targets and fostering sustainable growth in the sector.

The initiatives will be unlocked through the collective vision of DCT Abu Dhabi, the Abu Dhabi Department of Economic Development, the Department of Municipalities and Transport, Abu Dhabi Airports Company, and other key government and private stakeholders, who play a strategic role in bringing Abu Dhabi’s tourism vision to life.

The first pillar, Offering and City Activation, looks to further enhance the overall guest experience by unveiling additional cultural sites, theme parks, retail offerings and new hotel chains, as well as boosting the emirate’s events calendar of year-round concerts, festivals, and family events. The dining landscape will diversify significantly, offering expanded options including the introduction of culinary schools and training programs.

DCT Abu Dhabi will also more than double its Promotion and Marketing efforts, expanding its international reach from 11 to 26 markets and enhancing synergy within Abu Dhabi’s tourism ecosystem. It will also establish strategic global partnerships with media outlets and well-known brands for high-profile collaborations, creating compelling, market-specific content across various touchpoints.

The strategy’s Infrastructure and Mobility pillar will increase hotel room availability across various categories, including accessible and luxury options, glamping, and farm stays. Through valued collaborations, the emirate is set to enhance roads, public transport, and infrastructure, simplifying travel within and boosting visitor inflow through increased flight seat capacity with both local and international airlines.

Lastly, both visitor experience and tourism business operations will be greatly enhanced with streamlined Visa, Licensing and Regulation processes. In collaboration with relevant government agencies, enhanced platforms and processes will reduce time frames for all applications and permits, to improve the ease of doing business and attract investment.

Building on the success of 2023

In 2023, Abu Dhabi’s tourism sector saw a remarkable surge, welcoming nearly 24 million visitors. The 27 percent rise in hotel guests and 54 percent increase in international guests bolstered the economy with an approximate 49-billion-dirham contribution to the UAE’s GDP.

Arrivals from key international markets like India, Russia, the UK, China and Saudi Arabia, played a pivotal role in 2023. The emirate’s vibrant array of over 150 events, its pristine beaches and natural landscapes, as well as its cultural sites such as Qasr Al-Hosn, Qasr Al-Watan and Sheikh Zayed Grand Mosque, attracted more than 8.7 million visitors. Offerings across museums, cultural festivals and art exhibitions saw record-setting attendance, including the Louvre Abu Dhabi and the inaugural Manar Abu Dhabi public art exhibition, underscoring the emirate’s diverse appeal.

Visitor numbers were further boosted by a 44 percent increase in Meetings, Incentives, Conferences, and Exhibitions events. With 960,000 delegates across 2,477 events exploring Abu Dhabi’s attractions and dining options, the food and beverage sector saw a resultant 21 percent revenue increase. In addition, flagship entertainment events like the MOTN Festival and Formula 1 Etihad Airways Abu Dhabi Grand Prix, along with cultural milestones such as the Al-Hosn Festival and the Liwa Festival, further solidified Abu Dhabi’s position as a global center for leisure and tourism.


barq launches digital wallet in Pakistan

barq launches digital wallet in Pakistan
Updated 15 February 2025
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barq launches digital wallet in Pakistan

barq launches digital wallet in Pakistan

barq Holding, the parent company of barq Financial, has announced the launch of its barq digital wallet in Pakistan.

It is part of its strategy for international expansion and enhancing digital payment solutions in global markets.

This launch follows the wallet's success in Saudi Arabia, where the barq financial app has become one of the fastest-growing apps globally in a record time.

The barq wallet aims to provide a seamless and secure payment experience for its customers in Pakistan, offering advanced digital financial solutions, enabling individuals and businesses to carry out transactions with ease and efficiency.

Through this expansion, the company seeks to support the digital transformation efforts in the payments sector and promote financial inclusion in the region.

This launch is part of barq Holding's vision to strengthen its presence in global markets.

The company plans further regional and international expansions in the coming period, focusing on markets with high growth potential in the fintech sector.


Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar net profit increases by 20%, revenues rise by 44%
Updated 15 February 2025
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Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar Holding announced its financial results for the year ended on Dec. 31, 2024, approved by the company’s board of directors.

The company recorded a 44 percent increase in revenues, reaching 4.2 billion Qatari riyals, compared to 2.9 billion Qatari riyals in 2023.

The gross profits of the company reached 1 billion Qatari riyals, up from 801 million Qatari riyals in 2023, reflecting a 27 percent increase.

The company also achieved earnings before interest, tax, depreciation, and amortization (Ebtida) of 742 million Qatari riyals. The results showed a 20 percent rise in the company’s net profit compared to 2023, reaching 422 million Qatari riyals. Earnings per share also increased by 17 percent from 2023, reaching 0.119 Qatari riyals per share.

The 20 percent growth in net profit is attributed to the increase in the company’s revenues, which were primarily driven by the contracting and healthcare clusters.

The contracting cluster expanded in executing and delivering projects efficiently in Saudi Arabia.

The healthcare cluster contributed to the rise in 2024 revenues.

It was driven by the sustainable performance growth of The View Hospital in Qatar, and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals.

A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues.

The financial results for 2024 reported a 25 percent increase in assets compared to the previous year, resulting from the new projects added to Estithmar Holding’s portfolio, including the Korean Medical Center in Lusail, the Rixos Baghdad project in Iraq, and the Rosewood Maldives Resort.

The board of directors of Estithmar Holding recommended a dividend distribution equivalent to 10 percent of the capital, with one free share for every 10 shares.

The results have demonstrated the ability of the holding company to maintain sustainable growth, enabling it to expand regionally and internationally, supported by the broad trust it has gained from its successful track record across all operational sectors locally.

In 2024, the company signed numerous agreements with sovereign wealth funds and regional government entities to transfer its expertise, particularly in healthcare, specialized contracting, services, and real estate development sectors.

The contracting cluster contributed 42 percent to the company’s revenues in 2024, driven by its notable activity both locally and regionally, especially in Saudi Arabia.

The cluster completed several agreements and contracts in 2024, with Elegancia Arabia, one of Estithmar Holding’s companies, participating in massive projects such as NEOM, the Red Sea Project, and AMALA, among others.

The services cluster contributed 35 percent to the company’s revenue.

This sector provides services such as facilities management, catering services and solutions, manpower and human resources, and event support, among others.

In 2024, the cluster expanded into Iraq, Libya, in addition to its operations in Saudi Arabia and Jordan.

The healthcare cluster continued to achieve sustainable growth, driven by the company’s expansion in applying the hospital management and operation model regionally, including in Iraq and Libya.

Hospitals within Qatar — The View Hospital and The Korean Medical Center — continued to gain trust by adhering to the highest international quality standards, hosting world-class medical professionals, and activating partnerships with leading international medical institutions such as Cedars-Sinai (US) and Asan Medical Center (South Korea), among others.

The ventures cluster performed steadily, attributed to the demand for the sector’s projects, including Al-Maha Island, which received over 4.7 million visitors in 2024.

The year also concluded a strong finish for the second season of Lusail Winter Wonderland and a successful launch of its third season, attracting thousands of Qatar residents and tourists.

Additionally, the sector’s hotel facilities, such as Katara Hills and Maysan Doha resorts, continued to lead the luxury hospitality sector in Qatar throughout the year.

Similarly, the cluster’s projects outside Qatar have progressed, The Rixos Baghdad project that features residential apartments, and a world-class hotel made significant progress in its construction phase, and The Rosewood Maldives Resort project is also advancing rapidly in terms of completion and is expected to become a prominent tourism destination in the Maldives and globally.


Saudi fintech barq secures multiple MoUs for future growth

Saudi fintech barq secures multiple MoUs for future growth
Updated 15 February 2025
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Saudi fintech barq secures multiple MoUs for future growth

Saudi fintech barq secures multiple MoUs for future growth

barq concluded its participation in LEAP 25, organized by the Saudi Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones, and Tahaluf Company.

The Feb 9-12 event took place at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh.

On the final day of the event, barq announced the signing of additional MOUs with leading entities and global and Saudi tech companies.

This initiative aims to enhance its ongoing development approach for services, improve customer experiences, and provide more innovative features and solutions that meet their aspirations and needs.

The MoUs were signed on behalf of barq by Walid Al-Hassoun, chief information officer; Muqrin Al-Shammari, corporate management director; Mishaal Al-Aboudi, loyalty and engagement development manager; and Abdulelah Al-khathlan, acquiring director.

The signing companies included Cosmo aimed at diversifying services and enhancing customer experience, represented by Rawad Rifai, co-founder and CEO.

Hyperpay aimed to improve the quality of services and offerings for customers, represented by Muhannad Ebwini, founder and CEO.

An MOU with groq was signed to support barq's service ecosystem with the latest tech solutions using artificial intelligence, represented by Fahad Al-Turaif, vice president and executive director for the Middle East and North Africa.

An MOU with Future Work was signed to enhance barq's customer experience and develop more innovative solutions, represented by Abdullah Al-Emran, executive director.

LEAP has been hosted by the Kingdom for the fourth time and witnessed the announcement of strategic agreements and major investment launches worth up to $15 billion.

Numerous MoUs were signed between participating companies and entities, attended by prominent sector leaders, major investors, and key innovators from around the globe.


LEAP 2025 concludes with multi-billion dollar investments and global expansion

LEAP 2025 concludes with multi-billion dollar investments and global expansion
Updated 14 February 2025
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LEAP 2025 concludes with multi-billion dollar investments and global expansion

LEAP 2025 concludes with multi-billion dollar investments and global expansion

The fourth edition of LEAP 2025, held in Riyadh, has reinforced Saudi Arabia’s position as a global hub for artificial intelligence, cloud computing, and digital infrastructure investments, securing total investments exceeding $14.9 billion.

It was the region’s premier technology event, which concluded at the Riyadh Exhibition and Convention Center in Malham under the theme “Into New Horizons.”

The milestone highlighted the Kingdom’s growing influence in the digital economy and innovation landscape.

The success of LEAP 2025 is a testament to the unwavering support of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, whose vision continues to drive Saudi Arabia’s digital transformation.

This aligns with Vision 2030’s objectives, solidifying the Kingdom’s leadership in technology, AI, and entrepreneurship.

As a global platform, LEAP brings together top thinkers, industry leaders, and investors to drive innovation and accelerate the shift toward a prosperous and sustainable digital economy.

Organized by the Ministry of Communications and Information Technology, in collaboration with the Saudi Federation for Cybersecurity, Programming, and Drones and Tahaluf Company, LEAP 2025 featured over 200,000 attendees; participation from 1,800 international and local entities; more than 1,000 global speakers; a showcase of 680 startups; and major deals with asset managers overseeing $22 trillion in portfolios

These figures underscore Saudi Arabia’s role as a global innovation hub, attracting top-tier companies and talent in the tech sector.

LEAP 2025 witnessed the announcement of landmark investments that will accelerate digital growth in the Kingdom, including a $1.5 billion partnership between Groq and Aramco Digital to boost AI-powered cloud computing investments; a $2 billion investment between Saudi-based Alat and China’s Lenovo to establish an advanced AI and robotics-driven manufacturing and technology hub; and the launch of several digital infrastructure and innovation projects, reinforcing Saudi Arabia’s position as a top destination for global tech investments.

Eng. Abdullah Alswaha, minister of communications and information technology, emphasized that LEAP 2025 reflects the Kingdom’s leadership in global technology innovation.

He said that the international investments and success achieved by Saudi Arabia’s technology sector "are a direct result of the support and empowerment" of the crown prince.

"This momentum drives Saudi Arabia toward its Vision 2030 goals, strengthening its position as a leader in AI, digital transformation, and entrepreneurship,” he added.

Faisal Al-Khamissi, chairman of the Saudi Federation for Cybersecurity, Programming, and Drones and Chairman of Tahaluf, said: “None of these achievements would have been possible without the support and vision of the crown prince, who has transformed Saudi Arabia into a global hub for advanced technology, innovation, and a sustainable digital economy.

“LEAP 2025 was not just a tech event — it was the largest and most impactful edition to date. It connected startups with investors, drove innovation, and unlocked new opportunities for entrepreneurs.”

Al-Khamissi added: "LEAP will expand globally, with two editions planned for 2026 — one in Riyadh and another in Hong Kong. This marks a significant step in Saudi Arabia’s leadership in the global digital economy and AI-driven innovation."

LEAP 2025 has already accelerated the growth of several startups, with notable success stories including Ejari, which started with a small booth at LEAP and secured a $1 million seed round, followed by another $15 million investment. It has since expanded its team to over 30 employees and attracted $50 million in business opportunities.

Data Lexing, a Saudi startup that debuted at LEAP 2022, has since expanded to 10 international markets with over 2,000 clients, 65% of whom are outside Saudi Arabia.

Quant secured $2 million in investment in a single day at LEAP.

With its record-breaking deals, global partnerships, and visionary expansion plans, LEAP continues to shape the future of AI, innovation, and technology investment worldwide.


Lulu brings world-class shopping to holy city of Madinah

Lulu brings world-class shopping to holy city of Madinah
Updated 13 February 2025
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Lulu brings world-class shopping to holy city of Madinah

Lulu brings world-class shopping to holy city of Madinah

Lulu Retail, a leading hypermarket chain in the Middle East, has expanded its presence in Saudi Arabia with the opening of its latest express store in Madinah.

This expansion aligns with Lulu's commitment to providing world-class shopping experiences to residents and visitors while supporting the Kingdom’s Vision 2030 initiative for economic growth and job creation.

Mazen bin Ibrahim Rajab, chairman of the Madinah Chamber of Commerce, inaugurated the new Lulu express store in the presence of Fahad Ahmed Khan Suri, consul general of India in Jeddah, Yusuffali M.A., chairman of Lulu Group, along with other dignitaries.

The new Lulu store, developed in partnership with Al Manakha Urban Project Development Company, spans a retail space of 23,000 square feet.

The store is designed to offer a modern shopping experience, catering to the diverse needs of customers with a well-curated selection of daily need essentials, fresh food, and departmental offerings similar to Lulu’s Jabal Omar store in Makkah.

Officials from Jabal Omar Development Company and Al Manakha Urban Project Development Company expressed their confidence in Lulu store’s role in enhancing the success of these prestigious shopping mall projects.

As a leading retail entity in the region, Lulu continues to redefine the shopping experience by bringing quality, variety, and affordability under one roof.

On this occasion, Yusuffali expressed his profound joy in expanding Lulu’s footprint in the holy cities.

“To contribute to the development of amenities in Makkah and Madinah has been a long-cherished dream of mine. I extend my heartfelt gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Crown Prince Mohammed bin Salman, and the Saudi Arabian government for their unwavering support. The Lulu remains committed to delivering a world-class retail experience while generating employment opportunities for Saudi citizens,” he said.

Lulu is planning significant expansion across Saudi Arabia, with three additional major projects already in the pipeline for Madinah, he added.

Suri said that the opening of the new Lulu store will mark a pivotal role in advancing the regional development of Saudi Arabia.

He also praised Lulu's efforts in extending its services to pilgrims, calling them highly commendable.

The store will feature a well-designed layout inspired by the city’s cultural and architectural essence.

Customers will enjoy a spacious and easily navigable shopping environment, ensuring convenience and comfort.

The store includes    a fully stocked express store offering fresh produce, grocery essentials, and international products; a special focus on Saudi-grown products, including premium-quality Madinah dates; dedicated fresh food sections providing high-quality fruits, vegetables, meat, and seafood; select departmental items, reflecting the range available at Lulu’s Jabal Omar store in Makkah.

The store will be open daily from 6 a.m. to midnight, providing extended shopping hours to accommodate the needs of both residents and visitors.

Also present on the occasion were Shehim Mohammed, director of Lulu Saudi; Rafeeq Yarathingal, business development director of Lulu; Noushad M.A., regional director of Lulu Jeddah; and other guests.