JEDDAH, 14 March 2004 — Four years ago, Walid Ashoor took over as general manager and editor of the Saudi Economic Survey. His father Saifaddin Ashoor established the SES in 1967 as a guide to doing business in Saudi Arabia.

“He had a vision,” Walid told Arab News. “He wanted to provide a report in English that contributes to informing foreign countries and business about Saudi Arabia’s economic activities.”

He also launched the Red Sea Review, a weekly English newspaper before there was an Arab News or a Saudi Gazette, but eventually he decided to focus on one publication. The Saudi Economic Survey enjoyed tremendous success in the seventies. It was unique and informative. Thirty-eight years later, Ashoor is building on the success of his father and taking SES to new markets and with a new vision.

The Saudi Economic Survey is a local publication with an international appeal, he says. “We have diverse local and international subscribers including ministries, companies, embassies, consulates, banks, universities, and law firms.” Currently, it is by subscription only, with over 30,000 readers worldwide. But Ashoor is considering providing it on newsstands. “As an economic report in English, we don’t have competition per se, but we had to develop technically and in content in order to serve our readers in an appealing way.” Ashoor has added color, better quality paper and eight extra pages of content.

It covers news, contracts, economic reports, analysis, newly established firms, tenders (local and Middle East), projects, conferences, a weekly company focus, and a weekly Saudi stock market report from Riyad Bank. Although SES is not a novelty or an exclusive source of information anymore, especially with the Internet and satellite channels, it continues to appeal to a core readership. According to Ashoor, local companies look for these types of magazines and enquire about SES. “This tells us there is lack of marketing on our part but also that we are needed.”

The issue for Ashoor is not simply accessing information but the type of information a businessperson or company is looking for whether it is a business opportunity or a particular political, scientific, or IT piece of information related to the economy.

SES launched a website recently, and is in the process of setting up its archive, “a goldmine of information of 38 years.”

One of SES week points is that it is a one-man show, “I believe that had my father made it a company from the beginning it would have been stronger. I’m not sure I would do that now for the time being, but I do believe it will provide bigger success because the bottom line is finances.” SES is an independent publication generating income through subscription and advertisement. However, Ashoor might be persuaded to bring in a few partners who are interested in publications and have vision and influence. “Marketing is the name of the game. I want to appeal to others besides my loyal clients,” said Ashoor.

“The older generations who have been with SES since its birth know about it and continue to subscribe, but we don’t enjoy good marketing awareness. Maybe being a specialized publication limits us in our approach,” he says. Currently, SES promotes itself by participating in business-related exhibitions and events. “I’m optimistic about the future. The road is longer as a one-man show.”