The Future Hospitality Summit, held at the beginning of May in Riyadh, was a dynamic showcase of Saudi Arabia’s burgeoning tourism and hospitality industries. For Guy Lean, a first-time attendee on his inaugural visit to Saudi Arabia, it was an opportunity to witness first-hand the incredible growth potential in the region. From bold mega-projects to the cultural shifts happening across the country, the summit offered valuable insights for businesses eager to explore new opportunities.
Vision 2030: A Unified Strategy
One of the central themes of the summit was Saudi Arabia’s Vision 2030—a strategy designed to attract 150 million visitors to the country. Guy noted that everyone he spoke with, from ministers to business executives, was fully aligned with this vision. It was clear that the leadership-driven, KPI-oriented approach had permeated every level of the industry. “The first topic of conversation is about the Vision,” Guy said. “Moving from the original target of 100 million to 150 million visitors shows the ambition. They’re incredibly KPI-driven, and everyone’s working towards the same goals.”
Mega and Giga Projects: Scale and Ambition
Saudi Arabia’s mega and giga projects inlcuding Qiddiya and Red Sea Global) demonstrate the country’s scale and ambition. Guy found the scope of these developments emblematic of the nation’s long-term vision. “These projects are vast,” Guy said. “The Red Sea project will offer something truly unique, both from a cultural and natural perspective.”
These projects, which could otherwise be overwhelming in their enormity, reflect a broader strategy for economic diversification. And yet, they are just the tip of the iceberg. Beyond these colossal initiatives, Guy saw an extensive focus on practical hospitality needs, like hotels in secondary cities, business accommodations, and serviced apartments.
Warmth and Accessibility: A Cultural Shift
Despite some preconceived notions about the region, Guy found the welcome to be warm, welcoming and authentic. At the conference, he noticed that ministers and executives were genuinely interested in hearing about new ideas and connecting with people. “The Saudis are incredibly accessible,” Guy reflected. “They’re open for business, they want to talk to you, and they’re genuinely curious about why you’re there.”
This cultural shift was refreshing. Guy described how approachable everyone was, regardless of their seniority or title. He felt that this openness would create countless opportunities for meaningful collaboration. “The Saudis are big on collaboration,” he noted. “They want to meet you, connect with you, and understand your service. It was a breath of fresh air.”
Sustainability and ESG Commitment
While sustainability has been recently touted as a key focus in global business (although conspicuously absent at CHRIS which we attended in April), Guy felt there was a genuine commitment to ESG principles in Saudi Arabia.
The projects presented at the summit weren’t just ambitious; they were carefully crafted to integrate sustainable practices. This dedication to sustainability was a common thread throughout the summit. From careful consideration of the Red Sea’s unique marine life to developing tourism that respects sacred sites, Saudi Arabia seems committed to building a responsible hospitality industry. “They know the value of their land, and they’re not just going to bulldoze through it,” Guy said.
Challenges and Strategies for Success
While the opportunities presented at the summit were vast, Guy acknowledged that businesses who may want to tap into the market would require a strategic approach. Building meaningful relationships takes time, and businesses need to be prepared to invest in repeated visits to understand the market and establish trust. “You can’t just go once and expect lots of business,” he cautioned. “It’s an going investment in time to build genuine connections.”
Another important consideration is the emphasis on Saudi nationalisation (or Nitaqat), which aims to bring more Saudi talent into the workforce. International expertise is welcome, but Guy stressed that businesses must recognise the focus (and legal requirement) on nurturing local talent. “They want to train their own people, but they’re aware of the expertise needed to do this properly,” he said.
The Future Outlook
The Future Hospitality Summit painted a clear picture of the future of Saudi Arabia’s hospitality sector, one marked by bold ambitions and a willingness to work with global partners. Guy was confident that, despite the challenges, the opportunities in the region are unmatched. “I’ve never seen an opportunity this big in my life,” he said. “Dubai was always huge, but this is on a different level.”
With the ongoing concerted national effort, the projects and partnerships emerging in Saudi Arabia really could elevate the region into a premier hospitality destination. Guy left the conference optimistic that Saudi Arabia will realise its Vision 2030, with projects that offer world-class experiences while maintaining cultural authenticity and prioritising sustainable growth.
Conclusion
In conclusion, businesses seeking growth in the Middle East would be wise to pay attention to Saudi Arabia. The nation’s ambitious Vision 2030, combined with its genuine commitment to sustainability and warm, collaborative culture, makes it an attractive destination for investment. However, success requires thoughtful planning, long-term relationship-building, and a willingness to adapt to local customs and priorities.
For Guy, the Future Hospitality Summit was inspiring. “It was a truly authentic experience,” he said. “The Saudis are doing something really special, and I believe they’re going to pull this off.”
If you would like to arrange a chat about your people strategies or to discuss any points raised in this article, then please get in touch on +44 (0)208 600 1182 or +44 (0)7813 009 787 or email guylean@madisonmayfair.com
