Page 28 - MOE ENGLISH PR - APRIL 2024

Press Release

H.E. Bin Touq leads UAE delegation participating in World Economic

Forum in Riyadh

Minister of Economy elaborates on the country's efforts in driving sustainable tourism

growth

Abu Dhabi, April 29, 2024:

H.E. Abdulla bin Touq Al Marri, Minister of Economy, led the UAE delegation at the World

Economic Forum in Riyadh, Saudi Arabia, that was held on April 28 and 29 under the theme
‘International Cooperation, Growth, and Energy for Development.’ The delegation included
Abdullah Ahmed Al Saleh, Undersecretary at the Ministry of Economy.

At the forum, H.E. Bin Touq took part in a session on the future of sustainable tourism development
and leveraging tourism's potential as a primary driver for agile economic growth. Other participants
included H.E. Ahmed Al Khatib, Saudi Minister of Tourism; Thiago Alonso de Oliveira, CEO of
JHSF; Jerry Inzerillo, CEO of Al Diriyah Group; and Aireen Omar, President and CEO of RedBeat
Capital, Capital A (AirAsia).

Acknowledging the tourism sector’s key role in boosting global economic growth, H.E. Bin Touq
said that it also serves as a key pillar in the achievement of SDGs by 2030. This is due to its
significance and broad impact on delivering sustainable development for nations through
increasing revenues, attracting FDI, creating job opportunities, establishing varied tourism
ventures, and enhancing transport infrastructure.

H.E. Bin Touq explained that in addition to contributing to the growth of related services and
industries such as hospitality, transport services, leisure and retail sectors, tourism contributes to
creating job opportunities for people of all ages, reducing unemployment rates. He further pointed
out that by 2033, this dynamic sector is projected to boost its contribution to the global GDP to
USD 15.5 trillion, accounting for 11.6 per cent of the world economy. It is expected to provide
employment for around 430 million individuals globally, which makes up almost 12 per cent of
the global workforce, as per the World Travel and Tourism Council's projections.

Importance of sustainability in advancing tourism

During the session, H.E. Bin Touq emphasized that sustainability is key to boosting the tourism
sector’s growth in the immediate future, particularly given the current global environmental and
social challenges. It calls for strengthening collaborative efforts across all fronts and levels to attain
a harmony between economic and environmental progress as well as social accountability.

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