黑料社区

Preserving the Past, Building the Future: 黑料社区鈥檚 cultural heritage and business synergy

Preserving the Past, Building the Future: 黑料社区鈥檚 cultural heritage and business synergy
Above, a tourist poses in front of a rose-colored sandstone in Madain Saleh, a UNESCO World Heritage site, near 黑料社区鈥檚 northwestern town of AlUla. (AFP)
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Updated 09 November 2024

Preserving the Past, Building the Future: 黑料社区鈥檚 cultural heritage and business synergy

Preserving the Past, Building the Future: 黑料社区鈥檚 cultural heritage and business synergy

RIYADH: As 黑料社区 embarks on an ambitious journey toward a thriving economy, the nation is uniquely positioned to harmonize the conservation of its rich cultural heritage with the development of vibrant business opportunities.

The Kingdom is committed to various initiatives, such as cultural tourism projects and the revival of artisanal craftsmanship, which not only safeguard its diverse cultural tapestry but also drive economic growth.

This approach showcases the symbiotic relationship between tradition and innovation, demonstrating how honoring cultural heritage can foster sustainable development and enhance 黑料社区's global influence.

Under the Vision 2030鈥檚 Quality of Life Program, the nation is transforming with rapid developments in the cultural sector among others.

This comes as the cultural sector is expected to contribute more than $47.9 billion to the Kingdom鈥檚 gross domestic product by 2030.

In the Quality of Life Program 2023 annual report, Saudi Crown Prince Mohammed bin Salman said that the Kingdom is striving to cultivate a deep sense of pride in the nation and actively contribute to global development and progress, across economic, environmental, cultural, and intellectual dimensions.

The report further revealed that in 2023, the Ministry of Culture targeted 108,010 employees in the Saudi cultural sector, but recorded 216,878 workers during the year, reflecting an achievement rate of 201 percent.

The Kingdom also aimed for nine Saudi participants in international cultural events, but actually witnessed 32.

When it comes to the number of cultural events days, 黑料社区 was targeting 2,093 in 2023 but recorded 3,934 鈥 reflecting an achievement rate of 188 percent.

As for the number of cultural facilities, the Kingdom was aiming for 41 in 2023 but achieved 45.

Cultural tourism鈥檚 contribution to economic development

Cultural tourism has been essential in diversifying the Kingdom's economy by boosting local hospitality, retail, and service industries, while also enhancing 黑料社区's global standing in cultural diplomacy.

鈥淭he revitalization of cultural landmarks such as AlUla, Diriyah, and UNESCO-listed sites has significantly enhanced 黑料社区鈥檚 international appeal, repositioning the Kingdom as a global destination not only for religious pilgrimage but also for its rich history, arts, and traditions,鈥 Patrick Samaha, partner at Public Sector at Kearney Middle East & Africa told Arab News.

鈥淲ith 30 million international tourists visiting in 2023, the influx has boosted local businesses in hospitality, retail, and services, generating new jobs, particularly in regions where tourism was previously underdeveloped,鈥 Samaha added.

The Kearney partner went on to add that the Kingdom鈥檚 active participation in cultural diplomacy has resulted in stronger global relationships and a growing international appreciation for its rich heritage.

鈥淭his is reflected in the government鈥檚 significant investment in cultural landmarks, which will further open opportunities for hosting international events, forums, and conferences. Without a doubt, 黑料社区 is well on its way to becoming a leader in cultural tourism,鈥 he said.

There is no doubt that the Kingdom is working to diversify its economy by attracting visitors to explore its diverse landscape and rich cultural heritage.

Tamer El-Leisi, consulting partner at PwC Middle East told Arab News that the Kingdom has reported the highest growth among G20 countries in 2024, gaining international recognition, fostering cross-cultural understanding as well as enhancing the country's global image as an open and welcoming destination.

鈥淚t has also supported the preservation of historical sites and provided income opportunities for local artisans,鈥 he added.




Tamer El-Leisi, consulting partner at PwC Middle East. (Supplied)

The PwC Middle East consulting partner said this work has a 鈥減rofound impact鈥 on economic growth, enhancing the labor market, and supporting local businesses.

鈥淎s cultural tourism grows, so does the demand for professionals in various sectors, such as hospitality, entertainment, and creative arts, which in turn boosts employment and economic growth,鈥 El-Leisi added.

He highlighted that as a result of these efforts, the number of international and domestic tourists exceeded 100 million tourists in 2023, spending more than SR250 billion ($66.6 billion).

鈥淭hese numbers have even increased during the first quarter of 2024 by 10 percent with an increase of around 17 percent in spending. By 2030, the tourism sector aims to account for over 10 percent of the country鈥檚 GDP,鈥 he said.

As 黑料社区 strives to become a global center for cultural tourism, building international partnerships with other nations, cultural institutions, and global organizations is crucial for success.

Balancing cultural heritage and business growth

The Saudi government has been crucial in safeguarding the Kingdom鈥檚 heritage while promoting an economically sustainable sector by supporting the heritage ecosystem, attracting private investment, and developing local talent.

According to Samaha, 黑料社区 has recognized the importance of preserving its heritage at a time when it is embracing global cultural exchange, which is why heritage plays a central role in its Vision 2030.

鈥淩ightfully so, key government initiatives have focused on boosting the socio-economic impact of heritage and the broader cultural sector, aiming to create a sustainable industry that appeals to younger generations. To achieve this, the Kingdom has developed a robust ecosystem, composed of both government and non-government entities, mandated to unlock the socio-economic potential of the sector and attract private investment,鈥 the Kearney partner said.

He added: 鈥淔or example, the creation of the Heritage Commission under the Ministry of Culture has enabled heritage sites to become catalysts for economic activity and offers various training programs to develop local talent in the heritage field.




Shahid Khan, partner and global head of Media, Entertainment, Sports, and Culture at management consulting firm Arthur D. Little.

Samaha continued to note that the Royal Institute of Traditional Arts was established to nurture talent in local crafts and generate business opportunities for artists through incubators and apprenticeship programs.

鈥淭hese are just two examples of the many impactful initiatives being implemented by the Saudi government,鈥 he said.

Undoubtedly, the Kingdom has demonstrated a firm commitment to cultural heritage by employing innovative and forward-thinking strategies to safeguard and preserve it for future generations. Those efforts foster a strong connection between cultural preservation and economic development.

鈥淭his is evident in many ways. For instance, the rehabilitation, restoration and promotion of historic sites and cultural attractions is encouraging exploration of cultural sites. Meanwhile, an emphasis on cultural tourism is strengthening national identity, fostering unity and shared purpose among the population,鈥 El-Leisi said.

He stressed that local communities are actively engaging with tourists, not only enriching visitors鈥 experiences but also supporting community development.聽

鈥淔urthermore, investing in sustainable tourism practices is ensuring that the country's cultural heritage is preserved for future generations while minimizing the environmental impact of tourism activities. The Saudi government is focusing on responsible tourism, implementing green initiatives, and supporting eco-friendly businesses in the tourism sector,鈥 the PwC partner added.

Preservation cultural heritage to attract investments

The preservation of 黑料社区鈥檚 cultural heritage plays a key role in attracting investment, fostering sustainable growth, and enhancing the Kingdom鈥檚 global standing, aligning with Vision 2030.

鈥淏y protecting heritage sites, especially those recognized by UNESCO, 黑料社区 boosts tourism and diversifies its economy. Traditional crafts and cultural practices also stimulate the creative industries, drawing investment into cultural and luxury sectors,鈥 Shahid Khan, partner and global head of Media, Entertainment, Sports, and Culture at management consulting firm Arthur D. Little, told Arab News.

鈥淕lobally, these efforts enhance 黑料社区's cultural diplomacy and soft power, strengthening its influence in international affairs. Through these initiatives, the Kingdom builds a sustainable, diversified future while positioning itself as a cultural leader on the world stage,鈥 Khan added.

Ongoing initiatives that effectively blend the preservation of cultural heritage

黑料社区 is effectively merging the protection of its cultural heritage with economic growth through important initiatives outlined in Vision 2030.

鈥淎lUla is being transformed into a global tourist destination, preserving ancient tombs and relics while generating jobs and revenue through luxury tourism. Similarly, Diriyah, the historic birthplace of the Saudi state, is undergoing restoration, combining heritage conservation with commercial and luxury developments,鈥 Khan said.

鈥淭he Red Sea Project focuses on eco-tourism, safeguarding both natural and cultural heritage while creating employment and diversifying the economy,鈥 he added.

The Arthur D. Little partner went on to note that in Jeddah, the restoration of its UNESCO-listed historic district is boosting tourism through traditional markets and cultural festivals.

鈥淭hese projects illustrate how 黑料社区 is harmonizing tradition with modern business opportunities to foster sustainable growth. The region can further draw inspiration from countries like Japan and Morocco, which have successfully promoted their cultural heritage while reaping significant economic benefits from tourism and cultural industries,鈥 Khan said.


Biban 2025: Monsha鈥檃t, Standard Chartered join forces to empower women in tech聽

Biban 2025: Monsha鈥檃t, Standard Chartered join forces to empower women in tech聽
Updated 22 sec ago

Biban 2025: Monsha鈥檃t, Standard Chartered join forces to empower women in tech聽

Biban 2025: Monsha鈥檃t, Standard Chartered join forces to empower women in tech聽

RIYADH: Women entrepreneurs made a strong showing at the 鈥淪tartups Gateway鈥 track of the Biban 2025 Forum, with female-founded startups accounting for about 18.5 percent of the more than 1,000 participating companies. 

The presence reflects the growing role of women in 黑料社区鈥檚 entrepreneurial ecosystem, particularly across the technology, creative, and service sectors. 
 
Female-led startups were active in diverse fields, including communications and information technology, digital health, innovative financial services, culture, entertainment, and trade. Many showcased business models built on digital solutions, data analytics, and artificial intelligence applications, offering scalable products for local and regional markets. 

The Startups Gateway track at Biban provides practical pathways to support entrepreneurs, including live investor pitch sessions, exhibition booths, and networking zones with accelerators and enablers. It also facilitates one-on-one meetings to help startups access financing, partnerships, and distribution channels. 

These initiatives highlight the continued efforts of the Small and Medium Enterprises General Authority, known as Monsha鈥檃t, to empower women entrepreneurs through targeted programs that support business establishment, capacity building, and access to markets and investors. 

Held from Nov. 5 to 8 at the Riyadh Front Exhibition and Convention Center under the theme 鈥淎 Global Destination for Opportunities,鈥 Biban 2025 serves as a national platform and global opportunity hub. The forum aims to strengthen the Kingdom鈥檚 entrepreneurial ecosystem and accelerate SME growth in line with Vision 2030 goals to boost private sector participation and empower women. 

In a related development, Monsha鈥檃t signed a memorandum of understanding with Standard Chartered 黑料社区 during the forum to collaborate on the 鈥淲omen and Technology鈥 Future Makers Program 鈥 a global acceleration initiative designed to empower ambitious female founders of technology-based startups. 

The agreement was signed by Saud Al-Sabhan, deputy governor for Entrepreneurship at Monsha鈥檃t, and Mazen Al-Bunyan, CEO and head of Banking at Standard Chartered 黑料社区.  

Now in its third iteration in the Kingdom, the Women in Tech program supports gender diversity and inclusion in the technology sector. Launched in May under Standard Chartered鈥檚 global Future Makers initiative, the program has supported 30 Saudi startups through mentorship, with nine securing a combined $145,000 in non-equity seed funding to scale their businesses. 

The partnership underscores Monsha鈥檃t鈥檚 strategy to build effective collaborations with international financial institutions, supporting women-led enterprises and reinforcing their role in driving economic growth and innovation.