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

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

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.”


Bailout: Pakistan thanks Saudi Arabia, UAE, China for support ahead of IMF meeting

Bailout: Pakistan thanks Saudi Arabia, UAE, China for support ahead of IMF meeting
Updated 28 min 23 sec ago
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Bailout: Pakistan thanks Saudi Arabia, UAE, China for support ahead of IMF meeting

Bailout: Pakistan thanks Saudi Arabia, UAE, China for support ahead of IMF meeting
  • IMF executive board scheduled to meet today to discuss approval of $7 billion loan for Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday Pakistan had met the “tough conditions” set by the International Monetary Fund with the help of Saudi Arabia, the UAE and China, as the global lending agency’s board meets today to discuss the $7 billion loan program for the country.

Pakistan reached a staff-level agreement with the IMF in July for a fresh loan to keep its fragile economy afloat. Finance Minister Muhammad Aurangzeb had earlier expressed hope of sealing the deal by the end of August. However, delays were caused by an external financing gap, which prompted Pakistan to seek commitments from key allies and request debt reprofiling.

Just a day earlier, the finance minister again expressed optimism about securing the loan program after the IMF board meeting, while emphasizing the government’s commitment to structural reforms.

“[Today] is the IMF board meeting, and we have fulfilled all of their conditions, very tough conditions, but praise be to God, we have completed them,” he told the media in New York on the sidelines of the 79th United Nations General Assembly Session. “I want to express my heartfelt gratitude once again, to our trusted brother nations, Saudi Arabia, China and the UAE. Without their immense support, this would not have been possible.”

“At the final stage, the conditions were related to China, and just like in the past, the Chinese government once again held Pakistan’s hand and offered immense support,” he added. “I am deeply grateful to the Chinese leadership.”

Pakistan’s last $3 billion IMF program helped avert a sovereign default in 2023 amid a sharp decline in foreign exchange reserves, currency depreciation and record inflation.

The government has already maintained that the country’s macroeconomic indicators have improved, though it needs the 37-month-long IMF program to solidify those gains.

“You have to grow and build from a stable base,” Pakistan’s finance minister said on Tuesday while addressing a high-level private sector dialogue, ‘CPEC-II and the Region.’ “We have reached that level now. Now, we can say that we have a good foundation on which we can build from here.”

“Now we need to move forward and stay with the reform agenda whether it’s on the taxation or energy side [or] on the state-owned enterprises or privatization side,” he added.


Closing Bell: Saudi main index gains 75 points to end at 12,343

Closing Bell: Saudi main index gains 75 points to end at 12,343
Updated 25 September 2024
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Closing Bell: Saudi main index gains 75 points to end at 12,343

Closing Bell: Saudi main index gains 75 points to end at 12,343

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 75.3 points, or 0.61 percent, to close at 12,343.72. 

The total trading turnover of the benchmark index stood at SR7.09 billion ($1.89 billion), with 136 stocks advancing and 83 declining. 

The Kingdom’s parallel market, Nomu, dropped 30.99 points, or 0.12 percent, to close at 25,653.38, as 26 stocks advanced and 33 retreated. 

The MSCI Tadawul Index added 9.85 points, or 0.64 percent, to close at 1,545.63. 

The best-performing stock of the day was Saudi Printing and Packaging Co., which surged 10 percent to close at SR14.52.  

Other top performers included Saudi Industrial Development Co. and Saudi Fisheries Co., whose share prices rose 9.93 percent and 9.9 percent, respectively. 

National Medical Care Co. was the worst performer, with its share price falling 2.47 percent to SR213.60.  

Other underperformers were Gulf Union Alahlia Cooperative Insurance Co. and Saudi Reinsurance Co., which saw their share prices decline by 2.28 percent and 2.17 percent to SR16.26 and SR36, respectively. 

On the parallel market, Al Mohafaza Co. for Education was the top performer, with its share price rising 9.21 percent to SR23. 

Other top performers on Nomu were Armah Sports Co. and Balady Poultry Co., with their share prices increasing 5.33 percent and 4.49 percent, respectively. 

Banan Real Estate Co. was the worst performer on Nomu, dropping 7.8 percent to SR5.44. 

Other notable decliners included Academy of Learning Co. and Leen Alkhair Trading Co., with their shares down 6.73 percent and 4.55 percent, respectively.  

On the announcements front, Saudi AZM for Communication and Information Technology Co. confirmed the award of a new project from the General Entertainment Authority.  

The project aims to provide guidance and support to entrepreneurs and businesses in the entertainment sector, reflecting a strategic push to foster industry growth aligned with Saudi Arabia’s Vision 2030. 

The project’s value exceeds 5 percent of AZM’s total revenues for the 2024 financial year. Its scope includes advisory services to strengthen the capabilities of entertainment sector stakeholders. 

This initiative builds on the existing partnership between AZM and GEA. Previously, AZM collaborated with GEA on a major digital transformation project that modernized the authority’s operational framework. 

Through that collaboration, AZM implemented IT solutions that enhanced GEA’s digital infrastructure, improving efficiency and service delivery. The project involved upgrading critical systems, automating processes, and integrating advanced technologies.


Saudi Arabia to host Global Logistics Forum in October 

Saudi Arabia to host Global Logistics Forum in October 
Updated 25 September 2024
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Saudi Arabia to host Global Logistics Forum in October 

Saudi Arabia to host Global Logistics Forum in October 

RIYADH: Saudi Arabia's transportation and supply chain sector evolution will be a central topic as top leaders discuss innovative strategies and advancements at the Global Logistics Forum in Riyadh. 

The event, set to take place from Oct. 12-14, comes as investment in the sector is surging, with a 76 percent increase in new businesses registered in the second quarter of 2024, making logistics the fastest-growing sphere in the Kingdom. 

Spearheaded by the Ministry of Transport and Logistic Services, the sector is undergoing significant changes to solidify the Kingdom's pivotal role in global trade. This transformation focuses on using advanced technologies to promote sustainability and improve infrastructure and transportation solutions, the Saudi Press Agency reported. 

The forum highlights the Kingdom's initiatives to develop and strengthen logistics centers, improving domestic and international connectivity. 

The three-day event is expected to gather over 100 speakers and participants, including industry leaders and government representatives.

This year's forum will also attract over 10,000 participants from leading global organizations who will address pressing logistics challenges with discussions on sustainability, supply chain resilience, workforce advancement, and technology adoption. 

The agenda includes keynote speeches, dialogue sessions, and bilateral meetings, fostering innovative, sustainable visions for the industry's future.

The event falls in line with Saudi Arabia's strategic location as a trade corridor between Asia, Africa, and Europe and aligns well with the nation's goal to consolidate its position as a global logistics hub under Vision 2030 and the National Transport and Logistics Strategy. 

These initiatives and efforts have propelled Saudi Arabia up 17 positions in the World Bank's Logistics Performance Index.

The Kingdom's port standings have also advanced, with the country climbing to 15th place globally in annual container handling. 

Three Saudi hubs were mentioned in Lloyd's List One Hundred Ports 2024, a testament to the country's growing influence in logistics and support for economic growth.  

The civil aviation sector is equally dynamic, highlighted by the Saudia Group's record-setting purchase of 105 Airbus planes and growing investment opportunities at airports. 

These developments are establishing new standards for global connectivity and infrastructure.  

This momentum marks a new era of leadership and innovation, aligned with national ambitions to redefine global trade and logistics under the ministry's sustainable and technologically progressive leadership.

The Kingdom presents substantial opportunities for global logistics players. With a population of approximately 36 million and a gross domestic product of $1.81 trillion in purchasing power parity as of the end of 2023, Saudi Arabia is a central hub for expansive trade routes supported by world-class infrastructure.  

Another major catalyst for growth is the Kingdom securing the bids for Expo 2030 and the 2034 FIFA World Cup — both of which will attract substantial global business opportunities, opening new channels for trade and commerce.


New customs agreement to boost UAE, US economic ties

New customs agreement to boost UAE, US economic ties
Updated 25 September 2024
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New customs agreement to boost UAE, US economic ties

New customs agreement to boost UAE, US economic ties

RIYADH: The economic partnership between the UAE and the US is poised for significant expansion with the introduction of a new customs cooperation agreement. This initiative aims to reduce customs violations, combat illicit trade, and enhance technical collaboration between the two nations.

The agreement was formalized during UAE President Sheikh Mohamed bin Zayed’s visit to the US, marking a crucial step in streamlining customs operations and strengthening trade relations. Ali Al-Shamsi, chairman of the UAE Federal Authority for Identity, Citizenship, Customs, and Port Security, and Troy Miller, acting commissioner of US Customs and Border Protection, signed the accord.

Al-Shamsi underscored the agreement’s importance, stating it would broaden trade opportunities and facilitate the exchange of customs expertise, alongside enhancing national capabilities through targeted training programs.

He told the Emirates News Agency, WAM: “Bilateral trade between the two nations continues to grow steadily, driven by our deep political and economic ties. This growth brings numerous advantages, particularly in fortifying customs relations and expanding trade scope to navigate challenges that may impede the seamless flow of goods.”

The UAE and the US enjoy a robust economic relationship, with bilateral non-oil trade skyrocketing to $31.4 billion in 2023, up from $23.8 billion the previous year. Notably, US exports to the UAE surged by 19 percent, totaling $24.8 billion. The UAE remains the largest market for US goods in the Middle East, highlighting its vital role as a trade hub.

This burgeoning trade dynamic yields substantial benefits for both economies. US exports to the UAE supported approximately 125,000 jobs across the US in 2023. Meanwhile, the UAE’s exports to the US reached around $6.6 billion, featuring a diverse array of products including aluminum and precious metals, reflecting the complementary nature of their trade.

Al-Shamsi further emphasized that the customs cooperation and mutual assistance agreement underscores the UAE’s pivotal role as a regional gateway for global trade. Its strategic location connects Asia, Europe, and Africa, making it an essential transit hub.

With the US, the world’s largest economy, as a historical partner, the UAE's non-oil trade strategy and investments in sectors like real estate, technology, and manufacturing highlight the mutual interest in nurturing a vibrant trade and investment relationship.


KAUST, Abdul Latif Jameel Motors strike deal with Toyota to advance hydrogen fuel research  

KAUST, Abdul Latif Jameel Motors strike deal with Toyota to advance hydrogen fuel research  
Updated 25 September 2024
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KAUST, Abdul Latif Jameel Motors strike deal with Toyota to advance hydrogen fuel research  

KAUST, Abdul Latif Jameel Motors strike deal with Toyota to advance hydrogen fuel research  

JEDDAH: Saudi Arabia will accelerate hydrogen fuel cell research after two local entities joined with Toyota Motor Corp. to increase decarbonization efforts in the transportation sector and beyond.

King Abdullah University of Science and Technology and Abdul Latif Jameel Motors have embarked on a strategic partnership with the Japanese firm to implement cleaner energy solutions.

At the heart of this initiative, KAUST has acquired proton electrolyte membrane fuel cell modules from Toyota, establishing a cutting-edge laboratory within its Clean Energy and Research Platform.

This facility is poised to play a crucial role in the Kingdom’s hydrogen innovation efforts, particularly in adapting fuel cells to the region’s specific environmental conditions, KAUST said in a statement.

Saudi Arabia aims to deliver around 2.9 million tons of hydrogen by 2030, offering competitive domestic and export costs, and this collaboration aligns with the Kingdom’s commitment to reducing greenhouse gasses and achieving net zero emissions by 2060.  

Mani Sarathy, professor of chemical engineering at KAUST, said they are excited to collaborate with TMC and Abdul Latif Jameel Motors to drive the adoption of hydrogen fuel cell technology in Saudi Arabia.

“Through our Clean Energy Research Platform, we are focused on advancing research that will optimize hydrogen fuel cells for the region’s specific conditions, ensuring their efficiency and reliability,” Sarathy said.

He emphasized that this partnership demonstrates their commitment to pioneering innovations that support sustainable solutions and contribute to a greener future for the Kingdom and beyond.

Sarathy and his CERP team are currently leading research efforts to explore the performance, durability, and environmental integration of PEM fuel cells, supported technically and financially by TMC and Abdul Latif Jameel Motors, the authorized distributor of Toyota vehicles in Saudi Arabia since 1955.

The team is undertaking a series of modeling and experimental studies to evaluate factors such as temperature sensitivity, humidity effects, and overall efficiency, aiming to optimize the environmental advantages of these fuel cells within the Kingdom’s infrastructure, KAUST said in its release.

Mazin Ghazi Jameel, managing director of Toyota marketing operations at ALJ Motors, commented that his company is dedicated to facilitating the development and adoption of solutions that benefit both local and global communities.

“A key focus is promoting fuel cell technology to establish Saudi Arabia as a key contributor to sustainable mobility. This strategic partnership reaffirms our commitment to enabling a future of cleaner, efficient and smarter mobility accessible to all, supporting the transformational needs of businesses and individuals in the Kingdom of Saudi Arabia,” Ghazi said.

Nobuyuki Takemura, chief representative of the Toyota liaison office for mobility and energy in the Kingdom, remarked that for more than two decades, TMC has been a leader in environmentally friendly mobility solutions, showcasing a steadfast commitment to a zero-carbon future through ongoing innovation and significant global investment.

“In partnership with the KAUST research team within CERP and Abdul Latif Jameel Motors, we are bringing this technology to Saudi Arabia, supporting its decarbonization goals. Toyota is dedicated to contributing to the research at KAUST and to advancing the Kingdom’s economic diversification and circular carbon economy, in alignment with Vision 2030,” he said.