’s tourism vision is ‘very inspiring,’ says Indonesia’s minister

Special ’s tourism vision is ‘very inspiring,’ says Indonesia’s minister
Indonesian Tourism Minister Widiyanti Putri Wardhana. AN
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Updated 17 sec ago

’s tourism vision is ‘very inspiring,’ says Indonesia’s minister

’s tourism vision is ‘very inspiring,’ says Indonesia’s minister
  • Wardhana lauds Kingdom’s $800 billion investment plan and seeks closer cooperation 

RIYADH: ’s plan to invest about $800 billion in its tourism industry by 2030 is drawing international praise, with Indonesia’s tourism minister describing the Kingdom’s vision as “strategic and forward-looking,” and expressing interest in expanding cooperation between the two nations. 

Speaking to Arab News on the sidelines of the 26th UN Tourism General Assembly in Riyadh, Indonesian Tourism Minister Widiyanti Putri Wardhana said the Kingdom’s commitment to developing tourism for the future is “very inspiring.” 

This comes as advances its Vision 2030 goal to make tourism a key driver of economic diversification, targeting 150 million visitors annually, a third from abroad. 

“The plan to invest about $800 billion in tourism by 2030 and host 150 million visitors over the next five years is very strategic and forward-looking,” said Wardhana. 

As leaders from across the world gathered in Riyadh to shape the future of global tourism for the next 50 years, she said: “I think this General Assembly is very important for us. This is, I think, the biggest turnout of ministers and delegates in one place.” 

Wardhana highlighted that tourism plays a vital role for Indonesia as well, adding that Jakarta is working to strengthen cooperation with Riyadh in this area. 

Referring to her meeting with Saudi Tourism Minister Ahmed Al-Khateeb, she said discussions included potential collaborations in human capital development.

“We have around 2,900 students graduating (every year) from our tourism polytechnics in Indonesia, and our total workforce in tourism is about 26 million,” she said. “As is developing (tourism sector) really fast, we can provide the manpower, very well trained in hospitality, to . I think that kind of collaboration is very important.”

On improving connectivity, Wardhana noted: “We should increase the connectivity of direct flights from to Indonesia and vice versa. Of course, we have to create the demand, but better connectivity is an important aspect of travel.” 

Commenting on religious tourism, as hosts Islam’s holiest sites in Makkah and Madinah and welcomes the largest number of Hajj and Umrah pilgrims from Indonesia, the minister noted that her country is also seeking to attract more Saudi visitors to its diverse natural and cultural destinations beyond Bali. 

“Our last year’s numbers were around 1.9 million Indonesians visiting for religious purposes,” she told Arab News. “Now, with the Kingdom investing hugely in the tourism sector, I believe we can increase that number because after completing their religious duties, they (pilgrims) can go to other places in the Kingdom and explore and experience Saudi destinations.” 

Last year, around 135,000 Saudi nationals visited Indonesia, and “we would certainly like to increase the number of Saudi travelers to Indonesia, which has the largest Muslim population in the world,” Wardhana said. 

“We have 15 Muslim-friendly destinations that have been developed. We have halal food everywhere, mosques in Indonesia are very easy to find, and we have a history of Arab traders — these combined together can attract more visitors from Arab countries, especially from the Kingdom,” she added. 

As part of Indonesia’s promotional plans, the minister said the country will set up a special information desk to showcase Muslim-friendly tourism destinations and events.

“On our website, we are sharing information about travel destinations and services in Indonesia. So, everyone from , what they want to know, they can go on our website, Indonesia Travel, for that,” Wardhana said. 

She added that Indonesia is also improving its online platforms to better serve Arabic-speaking visitors. “We are also adding an API to the website, so you can have a chatbot in Arabic language with all kinds of information and itinerary proposals. We can launch this in two weeks,” she said. 

The minister added that Indonesia is opening more international airports with direct access to its 15 Muslim-friendly destinations. “With that kind of information and with more promotion in both countries, and more demand, airlines can open up with expansion to reach different places,” she said.

On hosting the UN Tourism General Assembly and launching the TOURISE Summit, Wardhana agreed that this is a decisive moment for shaping the next 50 years of global tourism. 

“It (TOURISE) is a very good initiative. They are going to launch it tonight,” the minister said. “It’s very good to have such events because we know that events create jobs. They also bring people from around the world to converge at the event. To do this is to raise a big event and promote tourism. It will be an extraordinary event for tourism.”


Saudi reinsurance market aims to attract foreign investors

Saudi reinsurance market aims to attract foreign investors
Updated 7 sec ago

Saudi reinsurance market aims to attract foreign investors

Saudi reinsurance market aims to attract foreign investors

RIYADH: has become an attractive market for international players in the insurance and reinsurance sector, with rising interest from foreign companies in entering the Kingdom,

The Saudi Insurance Authority is holding discussions with about four foreign companies considering entering the reinsurance market, revealed the Authority’s Chairman, Naji Al-Tamimi, in a talk with Asharq on the sidelines of the first day of the Global Insurance Conference and Exhibition. 

He believed that “the reasonable regulatory framework and excellent digital infrastructure have made the Saudi market inherently attractive,” noting that the Authority encourages international investors and branches of foreign companies.

Al-Tamimi clarified that is moving toward implementing the Risk-Based Capital (Capital Regime) in January 2027, after a pilot phase in 2026, which will enhance companies’ underwriting capacity based on risk and support the sector’s global attractiveness. He also mentioned that the sector aims to double the workforce from 18,000 to 39,000 people in the coming years.

The Saudi insurance market grew by more than 17 percent in 2024, and the penetration rate rose to about 2.6 percent, while the country aims to double the premium value by 2030, according to the Chairman of the Authority’s Board of Directors, Abdulaziz Al-Bouq, during the conference.

Reinsurance sector attracts new player

The CEO of Riyadh Reinsurance Co., Fahd Al-Husni, stated in an interview with Asharq on the conference sidelines that the reinsurance sector in is attractive to international companies, explaining that the size of the local reinsurance market is expected to reach SR20 billion in 2030.

Riyadh Re announced its official launch during the Global Insurance Conference and Exhibition after obtaining the final license from the Insurance Authority, thus adding a new player to the sector alongside Saudi Reinsurance Co. 

Al-Husni mentioned that Riyadh Re was established with a capital of SR550 million ($146.6 million), with a plan to increase it to SR800 million within four years to support growth, adding that the company will focus 60 percent to 40 percent on the local market in the first two years, before expanding outside the Kingdom.

In the same context, the CEO of the Co. for Cooperative Insurance had stated in a recent interview with Asharq that his company is awaiting the necessary regulatory approvals to launch its reinsurance activities as part of its strategic growth plan and expansion in core businesses.