FHS World 2024: Leading the charge for sustainable hospitality practices

As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities. File
As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities. File
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Updated 29 September 2024
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FHS World 2024: Leading the charge for sustainable hospitality practices

FHS World 2024: Leading the charge for sustainable hospitality practices

RIYADH: The Future Hospitality Summit World is returning to Dubai from Sept. 30 to Oct. 2 at Madinat Jumeirah, promising three days filled with insights, networking, and announcements for the hospitality and tourism sectors.

As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities.

Jonathan Worsley, chairman of The Bench and organizer of FHS World, told Arab News: “The Future Hospitality Summit has grown year on year since its inception, evolving from what was once a purely Middle East-focused event — the much-loved Arabian Hotel Investment Conference — to a world-leading summit that attracts over 1,500 international delegates and puts the global industry in the spotlight.” 

He added: “As our biggest and boldest event to date, FHS World 2024 reflects the continued growth of the hospitality and tourism sector and the evolution of FHS as the leading event of its kind.”

Under the theme “Invest in Our Future,” the summit will address critical issues shaping the global hospitality landscape, with a particular focus on innovation, sustainability, technology, and investment opportunities. Worsley emphasized the significance of investment and partnerships, stating, “This year’s theme emphasizes investment, innovation, and sustainability.”




Jonathan Worsley, chairman of The Bench and organizer of FHS World.

He elaborated: “Each year, we work alongside our highly experienced advisory board who guide us on topics, speakers, and event format to ensure we bring in the right people to discuss the most important factors affecting the hospitality industry and add the most value to industry players attending.”

This year’s agenda is packed with over 40 sessions across 20 conference tracks on four dedicated stages: Summit, Future, Exhibition, and Innovation. Topics will encompass environmental, social, and governance issues, sustainable development, human capital, real estate, technology, branding, and culture.

Worsley noted that the emphasis on sustainability has intensified annually. The 2024 agenda includes dedicated tracks where expert insights will guide the development of sustainable business models that prioritize environmental stewardship while enhancing profitability. 

The summit will also feature panels addressing urgent topics like scaling tourism with sustainable footprints, decarbonization, and achieving net-positive hospitality, aligning with the global movement toward responsible business practices.

A session “Greening Hospitality: ESG Law Compliance Impacting Hotel Real Estate Value” underscores the rising importance of environmental standards worldwide. 




Hala Matar Choufany, president for HVS Middle East, Africa & South Asia.

Hala Matar Choufany, president for HVS Middle East, Africa & South Asia, remarked: “Sustainability compliance is one of the biggest challenges facing the hospitality industry, as governments and investors push for more stringent environmental standards.”

FHS World 2024 will delve into technology and innovation, with Worsley highlighting, “Artificial Intelligence, the Internet of Things, and automation are transforming our industry in profound ways. FHS World will showcase how technology enhances everything from operational efficiency to guest personalization.” 

Choufany added: “Emerging technologies like AI and IoT are transforming hospitality operations by improving efficiency, reducing costs, and enhancing guest experiences. AI allows hotel operators to use predictive analytics to forecast occupancy, adjust staffing, and optimize inventory, while dynamic pricing algorithms help maximize revenue.”

Experts like Nicolas Nasra of Colliers will discuss AI’s transformative potential in hotel operations, and Piergiorgio Schirru of Blastness will emphasize the importance of revenue management systems in securing competitive market prices. Worsley further noted that “Robotics and Generative AI will also take centre stage as tools for creating more efficient systems; however, discussions to address ethics and data protection elements of these new technologies are essential.”

The summit will not only highlight technological advancements but also emphasize sustainability and pathways to achieving net-zero goals. Inge Huijbrechts, chief sustainability and security officer at Radisson Hotel Group, along with leaders from brands like Hilton and Accor, will explore how hotels can leverage data-driven platforms to track, report, and minimize their carbon footprints.

Worsley highlighted key presentations, including “Decarbonization and the Pathway to Net Zero,” “Net Positive Hospitality,” and “Leading with Purpose: Commitment to People, Planet, Profit.” 

A key feature of FHS will be the Branded Residences Forum, presented by Accor One Living, focusing on the rising trend of branded residences in the Middle East and beyond. Worsley stated this forum is “set to be one of the biggest draws at FHS World,” providing attendees with insights into the intersection of real estate, branding, and hospitality.

He explained: “Investors are increasingly looking for diversified assets that can weather market fluctuations, and this is driving interest in branded residences and mixed-use developments.” 

Choufany added: “The hospitality industry is witnessing several emerging trends that are shaping the future of investments. One notable trend is the rise of extended stay and co-living spaces.” She noted that as remote work and digital nomadism gain popularity, investments in these properties are expected to grow, blending home comforts with hotel-like amenities.

This year’s summit will also feature Country Pavilions exhibitions showcasing hospitality projects from Greece, Italy, Morocco, the Maldives, and Sri Lanka. 

Worsley stated: “Our country pavilions are a platform for countries to showcase their hospitality projects and investment opportunities to a global audience, helping investors identify new markets.”

Innovation and creativity will be celebrated with several industry competitions, including the semi-finals of the UN Tourism Women in Tech Start-Up Competition and the new Sustainable Cook-Off, spotlighting top UAE chefs creating culinary masterpieces from locally sourced ingredients. The finals of the Sustainable Hospitality Challenge, a student competition founded by Hotelschool The Hague, will also return, continuing the tradition of recognizing innovative practices in the sector. 

Worsley remarked: “One of our most popular events is the Sustainable Hospitality Challenge, which enforces true sustainability through collaboration and is judged by world leaders in their field.” 

FHS World will also tackle challenges such as labor shortages and sustainability compliance through solutions-based discussions. Worsley explained: “FHS World addresses these challenges by bringing together experts in green technologies, automation, and workforce development to provide attendees with a toolkit for tackling these issues while capitalizing on new growth opportunities.”

As FHS World expands, it continues to serve as a premier platform for industry leaders to connect, share ideas, and shape the future of hospitality and tourism. Worsley stated, “Our vision for FHS World is to continue to help shape the future of hospitality investment and provide a platform — one that bridges continents and drives innovation, where industry leaders gather to forge partnerships to advance their businesses sustainably.”

With more sessions, speakers, and features than ever before, FHS World 2024 promises to be a defining event for the global hospitality and tourism sector, offering attendees unparalleled insights, networking opportunities, and pathways to invest in the industry’s future.


Saudi Arabia takes steps to strengthen personal data protection

Saudi Arabia takes steps to strengthen personal data protection
Updated 26 sec ago
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Saudi Arabia takes steps to strengthen personal data protection

Saudi Arabia takes steps to strengthen personal data protection

RIYADH: Saudi Arabia’s financial sector is set to benefit from enhanced data protection measures following the signing of two agreements between the Saudi Data and Artificial Intelligence Authority and the Saudi Central Bank. 

The agreements, signed on Feb. 5 and 6, aim to bolster the implementation of personal data protection laws across financial institutions, enhancing regulatory oversight and ensuring compliance with national data governance standards. 

The first memorandum of understanding focuses on enforcing personal data protection laws and their executive regulations within the financial sector.  

It seeks to strengthen supervision of financial institutions’ adherence to data protection requirements, thereby supporting the Kingdom’s broader digital economy goals.   

The move comes as Saudi Arabia accelerates its financial technology transformation, with a goal to raise non-cash transactions to 80 percent of total payments by 2030, up from 62 percent today.   

The first agreement was signed by Abdulaziz Al-Anazi, director of the General Department of Risk and Compliance at SDAIA, and Marwan Al-Lahedan, executive director of Operational Sustainability Oversight at SAMA.  

According to the agreement, the initiative will also promote collaboration in monitoring mechanisms, fostering an environment of secure and efficient data management.   

The second MoU, finalized on Feb. 6, will enhance the governance framework for data within the financial sector. This agreement will help advance Saudi Arabia’s digital infrastructure, creating a regulatory environment that supports data protection across the financial landscape.  

Both agreements were signed in the presence of high-level representatives, including Khaled Al-Dhaher, deputy governor for supervision and technology at SAMA, and Rayed Al-Rayedi, head of the National Data Management Office at SDAIA.    

The effort underscores the Kingdom’s commitment to strengthening its regulatory ecosystem to protect personal data and foster innovation in the financial industry.   

The surge in technological upgrades within financial institutions and the entry of new fintech startups underscore the need for rigorous data protection protocols to secure consumer information and prevent fraud.  

According to the World Bank, fraud in the financial sector leads to substantial global losses. In 2023, online fraud resulted in approximately $485.6 billion in losses worldwide.   

The increasing sophistication of fraudulent schemes poses substantial challenges to financial institutions and their clients.    

Fraudsters use advanced techniques, including phishing, identity theft, and cyberattacks, to exploit vulnerabilities within financial systems. This not only leads to direct financial losses but also erodes consumer trust in financial services.  


Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030

Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030
Updated 7 min 23 sec ago
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Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030

Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030
  • Trade between Saudi Arabia and Hungary reached $480 million in 2023
  • Hungary has maintained diplomatic ties with Saudi Arabia for over 28 years

RIYADH: An alliance of 25 Hungarian companies is preparing to invest in Saudi Arabia’s technology and digital transformation sectors, seizing the opportunities offered by Vision 2030. 

The announcement, made at the Saudi-Hungarian Business Forum in Riyadh organized by the Federation of Saudi Chambers, underscored the growing economic ties between the two nations, the Saudi Press Agency reported. 

The forum was attended by Hungarian Parliament Deputy Speaker Istvan Jakab, Saudi-Hungarian Business Council Chairman Marwan Al-Mutlaq, Shoura Council Chairman Ibrahim bin Mohammad Al-Qannas, and Hungarian Ambassador to Saudi Arabia Balazs Selmeci.

The initiative builds on the creation of the Hungarian-Saudi Holding Co. last year, a consortium focused on digital transformation and investment partnerships across Saudi Arabia’s digital, financial, and food sectors.

Trade between Saudi Arabia and Hungary reached SR1.8 billion ($480 million) in 2023, reflecting a 27 percent increase, with the Kingdom’s exports surging 216 percent to SR584 million and imports at SR1.2 billion.

Jakab highlighted the strength of Hungary’s relationship with Saudi Arabia, saying: “The relationship with the Shoura Council and the Federation of Saudi Chambers is strong,” and emphasized the potential of the holding company to foster investment and collaboration in key sectors.

Al-Mutlaq noted Saudi Arabia’s growing influence in the tech sector, ranking fourth globally in e-government and tenth in e-commerce. 

He added that the Saudi-Hungarian Business Council, in its new term, will focus on strengthening investment partnerships and boosting bilateral trade.

Hungary has maintained diplomatic ties with Saudi Arabia for over 28 years, contributing to ongoing bilateral cooperation. The country’s advanced IT sector presents opportunities to share expertise with Saudi Arabia’s growing technology landscape.

As part of Saudi Arabia’s Vision 2030 plan, the country is making substantial investments in digital transformation, focusing on emerging technologies such as artificial intelligence, cloud computing, and the Internet of things to build a significant digital economy by 2030. 

Government spending on technology is expected to reach $24.7 billion by 2025, according to a report published by the International Trade Administration. 

Key initiatives include the Public Investment Fund backing advanced tech firms like Alat, which focuses on AI, semiconductors, and robotics, with projected investments of around $100 billion by 2030.


Saudi aviation sector set to grow with new US partnerships boosting connectivity, investment

Saudi aviation sector set to grow with new US partnerships boosting connectivity, investment
Updated 22 min 37 sec ago
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Saudi aviation sector set to grow with new US partnerships boosting connectivity, investment

Saudi aviation sector set to grow with new US partnerships boosting connectivity, investment

JEDDAH: Saudi Arabia’s air transport sector is set for further growth as the Kingdom seeks new partnerships with US companies to strengthen connectivity, attract investment, and modernize its aviation infrastructure.

On Feb. 5, the Minister of Commerce Majid bin Abdullah Al-Qasabi met with senior executives from US air mobility firms and members of the global leadership community, Young Presidents’ Organization, to explore cooperation and partnership opportunities.

In a post on his X account, Al-Qasabi said: “Today I met with leaders from the US air mobility industry and members of the YPO global leadership community, where we discussed economic reforms in the Kingdom and opportunities for collaboration and partnership.”

This comes as Saudi Arabia plans to boost trade and investment with the US to around $600 billion over the next four years, as outlined by Crown Prince Mohammed bin Salman in a phone call with US President Donald Trump in January.

Trade between the Kingdom and the US reached $34 billion in 2023. The nation’s leading exports to the US included mineral products and fertilizers, while machinery and mechanical appliances were among the top exports to Saudi Arabia from the North American country, according to the Saudi Press Agency.

Over the past year, the Kingdom’s aviation sector has experienced remarkable growth, driven by a surge in passenger numbers, the expansion of its fleet with new jet acquisitions, and the forging of key global partnerships.

Valued at $1.2 billion in 2023, the industry is expected to grow at a compound annual rate of 8.88 percent from 2025 to 2029.

These developments are part of a larger vision to position Saudi Arabia as a leading global aviation hub and a premier travel destination.

As part of its Vision 2030 initiative, the Kingdom is investing billions of dollars to diversify its economy, strengthen its private sector, and enhance connectivity while solidifying its role in the international aviation landscape.

A key goal of this transformation is to deliver seamless travel experiences for 330 million passengers across more than 250 destinations and transport 4.5 million tonnes of air cargo by 2030.

The country is also prioritizing the development of transportation infrastructures, including airports and airlines, as several facilities, including Riyadh’s King Khalid International Airport and Jeddah’s King Abdulaziz International Airport, have undergone major upgrades to accommodate increasing passenger traffic.

King Salman International Airport is under construction in the Saudi capital, set to become one of the world’s largest travel hubs. This development is a major step toward the country’s goal of becoming a global destination for trade and tourism.

Riyadh Air, which flew its inaugural flight from Riyadh to Jeddah in September, aims to operate more than 200 aircraft.

Saudia remains the largest airline in the country, while budget carriers such as flynas and flyadeal continue to grow.

The Kingdom, moreover, is working to establish open skies agreements with various countries to enhance air connectivity and expand its aviation services.


ACWA Power and Saudi Aramco ink deals to boost renewables, hydrogen, and desalination

ACWA Power and Saudi Aramco ink deals to boost renewables, hydrogen, and desalination
Updated 06 February 2025
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ACWA Power and Saudi Aramco ink deals to boost renewables, hydrogen, and desalination

ACWA Power and Saudi Aramco ink deals to boost renewables, hydrogen, and desalination

RIYADH: Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom’s climate.

The first agreement, inked during ACWA Power’s third flagship Innovation Days event, involves the development of an advanced photovoltaic energy forecasting project. The initiative will use big data analytics and machine learning to improve solar power generation predictions.

By improving forecasting accuracy, the model aims to strengthen grid stability, optimize energy dispatch, and improve microgrid management.

The second deal focuses on measuring the efficiency and durability of vanadium flow battery technology in Saudi Arabia’s climate. This initiative will examine how well these batteries can store energy over extended periods and contribute to the increased use of renewables, particularly for water desalination.

This undertaking aligns with the Kingdom’s strategic push for clean energy, reinforcing the initiative’s goal to advance collaboration in renewables and hydrogen technologies while solidifying the nation’s role in the global energy transition.

“By investing in cutting-edge desalination technologies alongside renewable energy innovation and green hydrogen production solutions, we are paving the way for a more resilient and sustainable energy and water infrastructure in Saudi Arabia,” said Thomas Altmann, executive vice president for Innovation and New Technology at ACWA Power.

An agreement was reached by ACWA Power and Hysata. Supplied

Four other agreements were signed by ACWA Power with UK-based Bluewater Bio, global chemicals producer Dow, Australian hydrogen electrolyzer manufacturer Hysata, and King Abdullah University of Science and Technology.

ACWA Power and Bluewater Bio partnered to test advanced filtration technology for desalination projects in Saudi Arabia, with the aims of enhancing the efficiency and sustainability of the process.

Additionally, a desalination-related agreement was signed with Dow to test its anti-scaling chemicals at ACWA Power’s pilot facility.

This initiative aims to gather valuable data on the effectiveness of these chemicals in preventing scaling and contributing to the development of more sustainable solutions.

A pilot agreement between ACWA Power and Australian hydrogen technology company Hysata will focus on advancing cost-effective green hydrogen production, and will facilitate an in-country demonstration of the firm’s high-efficiency electrolyzer technology in the Saudi Arabia. 

Representatives from ACWA Power and KAUST shake hands on a deal. Supplied

In addition, ACWA Power and KAUST have extended their master research agreement, to further strengthen their partnership in innovative sustainable solutions for water desalination and solar energy.

Since 2019, the two entities have jointly operated the Center of Excellence for Desalination and Solar Power, fostering research and innovation to support the Kingdom’s ambitious sustainability agenda. 

These agreements underscore Saudi Arabia’s commitment to technological advancement and energy transition, reinforcing its leadership in the global shift toward renewables and sustainable water solutions.

The utility company also signed a framework agreement with Fraunhofer IMWS, Fraunhofer ISC, and Fraunhofer IWES, initiating a strategic collaboration in renewable energy and green hydrogen research and development.

This partnership aims to drive innovation in the clean energy sector by leveraging Fraunhofer's expertise in materials science, energy systems, and hydrogen technologies.

The agreement lays the groundwork for joint research initiatives focused on enhancing efficiency, sustainability, and technological advancement in the global energy transition.

Under the theme Innovate for Impact, the inaugural three-day event was held in Riyadh from Feb. 3 to 5, and welcomed over 1,000 delegates.

Held under the patronage of the Ministry of Energy, the gathering focused on elevant technologies brought together government dignitaries, industry leaders, and innovators, researchers, and academics to discuss  accelerating the deployment of new technologies, institutionalizing foresight and forward-thinking in the energy transition landscape, and making significant contributions to the realization of Saudi Arabia’s Vision 2030.


Oman’s property market expands 29.5% as foreign investment grows

Oman’s property market expands 29.5% as foreign investment grows
Updated 06 February 2025
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Oman’s property market expands 29.5% as foreign investment grows

Oman’s property market expands 29.5% as foreign investment grows
  • Mortgage contracts accounted for the largest share of transactions in 2024, reaching 2.2 billion rials
  • Real estate sector’s contribution to GDP hit 820.7 million rials in the first nine months

RIYADH: Oman’s real estate sector surged 29.5 percent in 2024, with total transactions reaching 3.3 billion Omani rials ($8.57 billion), driven by foreign investment and government-led reforms. 

The real estate sector’s contribution to the country’s gross domestic product hit 820.7 million rials in the first nine months of the year, according to data from the Ministry of Housing and Urban Planning, cited by Oman News Agency. 

The sector’s growth aligns with broader trends in the Middle East, where countries are actively advancing their economic diversification programs. 

In Saudi Arabia, the property sector maintained its upward trajectory in the fourth quarter of 2024, with the real estate price index rising 3.6 percent year on year. 

The UAE is also witnessing robust expansion, with Dubai’s residential sales surging 30 percent year on year to $32.4 billion in the fourth quarter. 

Qatar recorded 3,548 real estate transactions in 2024, totaling $3.97 billion. 

Oman’s government has introduced several initiatives to accelerate real estate sector growth, including easing property ownership laws for foreigners and offering tax incentives to developers. 

According to Oman News Agency, mortgage contracts accounted for the largest share of transactions in 2024, reaching 2.2 billion rials. 
Sales contracts in Oman’s real estate market stood at 1 billion rials, while swap contracts were valued at 13 million rials. 

Reflecting an increase in international investments, foreign real estate trading in Oman grew 19.4 percent in 2024 compared to 2023. 

Real estate transactions by Gulf Cooperation Council nationals reached 38.1 million rials, registering a year-on-year increase of 16.5 percent. 

Among Oman’s governorates, South Al Batinah led the fastest-growing real estate markets, posting a 244.4 percent surge with a trading value of 1.2 billion rials. 

Al Batinah North recorded transactions worth 877 million rials, reflecting a growth rate of 122.8 percent. 

Al Dakhiliya Governorate saw a 119.2 percent increase, with real estate transactions amounting to 380 million rials. 

Al Sharqiyah North recorded a growth rate of 101.6 percent, with a turnover of 135 million rials. 

In Muscat Governorate, real estate transactions reached 1.2 billion rials in 2024, expanding at a more modest rate of 1.7 percent.