Latest news with #StanKlyuy
Al Arabiya
01-07-2025
- Business
- Al Arabiya
Saudi Arabia's Expo 2030 fuels surge in business, event travel across the Kingdom
Saudi Arabia is rapidly emerging as a premier destination for business and event travel, as preparations for Expo 2030 and massive Vision 2030 giga-projects accelerate infrastructure, tourism, and international engagement across the Kingdom. 'Expo 2030 is set to be a significant event for Saudi Arabia, establishing Riyadh as a hub of global dialogue and innovation,' said Stan Klyuy, Chief Commercial Officer of Tumodo, a digital platform that manages corporate travel. Redefining tourism Giga-projects like NEOM, a $500 billion futuristic city; The Red Sea Project, an ultra-luxury regenerative tourism destination; and Qiddiya, a major entertainment hub outside Riyadh, are all redefining what business and leisure tourism look like in the region. 'Extended stays and multi-purpose trips will become more common, with travelers combining Expo participation with site visits to giga-projects such as NEOM and the Red Sea developments,' Klyuy said. Saudi Arabia's Vision 2030 reform agenda originally aimed to attract 100 million visitors annually by 2030 – but already surpassed that goal seven years early. The Kingdom recorded a total of 116 million visitors in 2024, including 29.7 million international arrivals, an 8 percent increase from 2023, according to the Ministry of Tourism. The new goal now targets 150 million annual visitors by 2030. Tourism's contribution to Saudi Arabia's GDP has also surged, reaching 11.5 percent in 2023, up from just 3 percent in 2019, according to the World Travel and Tourism Council. Inbound tourism spending in 2024 hit $45 billion (SAR 168.5 billion) – a 19 percent year-on-year rise. Corporate travel behavior According to Klyuy, Tumodo has observed distinct changes in corporate travel behavior. Riyadh has become a MICE (meetings, incentives, conferences, and exhibitions) destination, with international conferences, summits, and investment forums increasingly scheduled around major cultural and sporting events. 'We've seen a clear rise in last-minute bookings, multi-city itineraries, and extended stays,' he noted. 'These trends reflect how Saudi Arabia's mega-events are reshaping travel demand and driving sustained economic engagement.' He added that events like Expo 2030 are prompting more companies to adopt sustainable travel policies aligned with the Kingdom's environmental goals. 'In line with Vision 2030's focus on sustainability, companies will place greater emphasis on responsible travel choices,' Klyuy said. According to the CCO, four industries are leading the demand for event-related travel to Saudi Arabia. These include: technology and startups, which regularly attend innovation events such as LEAP in Riyadh; energy and sustainability, driven by the Kingdom's Green Initiative; finance and investment, including sovereign wealth funds and global VCs; and hospitality and real estate, as major developments seek international partnerships A booming entertainment sector Meanwhile, Saudi Arabia's entertainment sector is also booming, according to Cosmin Ivan, CEO of Platinumlist, a regional ticketing platform. 'Fans in this region don't sit around waiting; they book, they fly, they show up,' Ivan said. 'We've seen this again and again: when people don't get the show at home, they go find it. But now, more and more of those shows are coming to Saudi Arabia.' Platinumlist is seeing growing demand from regional and international travelers to attend events in the Kingdom, as Saudi cities host high-profile concerts, sporting events, and festivals. In 2024, Riyadh Season alone attracted more than 16 million visitors, according to the Saudi General Entertainment Authority (GEA). 'Big international events open the door for massive opportunities,' Ivan said. 'In Saudi Arabia, we're not just seeing ticket sales rise, but also long-term shifts in how people travel, spend, and explore.' With Expo 2030 expected to bring tens of millions of visitors to Riyadh, Ivan said Platinumlist is preparing to meet international demand through multi-language listings, cross-border payments, and curated travel guides that help guests explore Saudi Arabia's evolving cultural and entertainment scene. Catalyst for long-term change Both executives agree that Saudi Arabia's transformation is far from temporary – it's setting the stage for sustained global engagement. 'These events aren't one-offs,' Klyuy said. 'They're catalysts for long-term change. The Expo, NEOM, the Red Sea Project – these are reshaping how the world sees Saudi Arabia and how businesses operate in the region.' With billions invested, record-breaking tourist figures, and an expanding global events portfolio, Saudi Arabia is positioning Expo 2030 not just as a milestone, but as a launching pad for a new era of tourism-driven growth and international engagement.
Khaleej Times
08-04-2025
- Business
- Khaleej Times
Mena business travel grows 50% in the first quarter
Business travel in the Middle East and North Africa (Mena) region surged by 50 per cent in Q1 2025, reaching $159.5 billion in revenue in 2024, recent data showed. According to Tumodo, an online business travel platform, the business travel market in the Middle East and Africa (MEA) region is expected to reach a projected revenue of $270.8 billion by 2030 and a compound annual growth rate of 8.3 per cent from 2025 to 2030. 'This growth reflects the region's economic resurgence and the increasing demand for seamless corporate travel solutions,' a statement said. As global markets stabilise and corporate ties strengthen, the Mena region is witnessing a dynamic shift in business travel patterns. The company reports that China leads as the top business travel destination from the Mena region, accounting for 25 per cent of trips, followed by the UAE (13 per cent), Saudi Arabia (five per cent), India (four per cent), and the UK (3.5 per cent). France and Germany each hold a three per cent share. Dubai remains a key transit hub, with high-frequency flights to Guangzhou and Seoul, while Riyadh, Cairo, and Doha are witnessing increased business travel due to large-scale infrastructure investments. Hospitality The Mena hospitality market was valued at $286.06 billion in 2024 and is projected to grow to $487.36 billion by 2032, with a CAGR of 6.67 per cent. Corporate travellers are demonstrating a preference for premium accommodations. Tumodo reports that four-star hotels lead bookings at 45 per cent, with five-star hotels gaining traction at 20 per cent, indicating a rise in demand for high-end stays. Moreover, luxury hotels in the Middle East saw a 145 per cent year-over-year increase in bookings during Ramadan 2025 as travellers opted for premium experiences. Three-star hotels account for 15 per cent of reservations, while apartments and budget hotels make up 15 per cent. Sustainability The sustainability focus is reshaping business travel practices worldwide. The company contributes to the UAE Environment Vision 2030 goals and promotes environmentally conscious choices. Tumodo's AI-driven solutions promote a sustainable approach to corporate travel by optimising eco-friendly routes and accommodations. This technology enables businesses to minimise environmental impact while ensuring efficiency and cost-effectiveness throughout travel. This shift highlights the growing role of AI in optimising corporate travel management and ensuring policy compliance. 'With business travel demand accelerating across Mena, organisations are prioritising efficiency, compliance, and sustainability in their travel strategies,' said Stan Klyuy, CCO at Tumodo. 'Our AI-powered platform streamlines travel management, reducing policy violations from 60 per cent to just 4 per cent, optimising budgets, and helping companies adopt more sustainable travel practices by recommending eco-friendly routes and accommodations, ultimately enhancing the overall travel experience for corporate clients.' Bleisure The evolving travel landscape also reflects the growing trend of 'bleisure' travel, combining business trips with leisure experiences. The average business trip duration has extended to 10 days, mirroring pre-pandemic norms, while room rates have increased by 10 per cent to an average of $160 per night.
