FHS World 2024: Leading the charge for sustainable hospitality practices

As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities. File
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Updated 29 September 2024
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FHS World 2024: Leading the charge for sustainable hospitality practices

RIYADH: The Future Hospitality Summit World is returning to Dubai from Sept. 30 to Oct. 2 at Madinat Jumeirah, promising three days filled with insights, networking, and announcements for the hospitality and tourism sectors.

As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities.

Jonathan Worsley, chairman of The Bench and organizer of FHS World, told Arab News: “The Future Hospitality Summit has grown year on year since its inception, evolving from what was once a purely Middle East-focused event — the much-loved Arabian Hotel Investment Conference — to a world-leading summit that attracts over 1,500 international delegates and puts the global industry in the spotlight.” 

He added: “As our biggest and boldest event to date, FHS World 2024 reflects the continued growth of the hospitality and tourism sector and the evolution of FHS as the leading event of its kind.”

Under the theme “Invest in Our Future,” the summit will address critical issues shaping the global hospitality landscape, with a particular focus on innovation, sustainability, technology, and investment opportunities. Worsley emphasized the significance of investment and partnerships, stating, “This year’s theme emphasizes investment, innovation, and sustainability.”




Jonathan Worsley, chairman of The Bench and organizer of FHS World.

He elaborated: “Each year, we work alongside our highly experienced advisory board who guide us on topics, speakers, and event format to ensure we bring in the right people to discuss the most important factors affecting the hospitality industry and add the most value to industry players attending.”

This year’s agenda is packed with over 40 sessions across 20 conference tracks on four dedicated stages: Summit, Future, Exhibition, and Innovation. Topics will encompass environmental, social, and governance issues, sustainable development, human capital, real estate, technology, branding, and culture.

Worsley noted that the emphasis on sustainability has intensified annually. The 2024 agenda includes dedicated tracks where expert insights will guide the development of sustainable business models that prioritize environmental stewardship while enhancing profitability. 

The summit will also feature panels addressing urgent topics like scaling tourism with sustainable footprints, decarbonization, and achieving net-positive hospitality, aligning with the global movement toward responsible business practices.

A session “Greening Hospitality: ESG Law Compliance Impacting Hotel Real Estate Value” underscores the rising importance of environmental standards worldwide. 




Hala Matar Choufany, president for HVS Middle East, Africa & South Asia.

Hala Matar Choufany, president for HVS Middle East, Africa & South Asia, remarked: “Sustainability compliance is one of the biggest challenges facing the hospitality industry, as governments and investors push for more stringent environmental standards.”

FHS World 2024 will delve into technology and innovation, with Worsley highlighting, “Artificial Intelligence, the Internet of Things, and automation are transforming our industry in profound ways. FHS World will showcase how technology enhances everything from operational efficiency to guest personalization.” 

Choufany added: “Emerging technologies like AI and IoT are transforming hospitality operations by improving efficiency, reducing costs, and enhancing guest experiences. AI allows hotel operators to use predictive analytics to forecast occupancy, adjust staffing, and optimize inventory, while dynamic pricing algorithms help maximize revenue.”

Experts like Nicolas Nasra of Colliers will discuss AI’s transformative potential in hotel operations, and Piergiorgio Schirru of Blastness will emphasize the importance of revenue management systems in securing competitive market prices. Worsley further noted that “Robotics and Generative AI will also take centre stage as tools for creating more efficient systems; however, discussions to address ethics and data protection elements of these new technologies are essential.”

The summit will not only highlight technological advancements but also emphasize sustainability and pathways to achieving net-zero goals. Inge Huijbrechts, chief sustainability and security officer at Radisson Hotel Group, along with leaders from brands like Hilton and Accor, will explore how hotels can leverage data-driven platforms to track, report, and minimize their carbon footprints.

Worsley highlighted key presentations, including “Decarbonization and the Pathway to Net Zero,” “Net Positive Hospitality,” and “Leading with Purpose: Commitment to People, Planet, Profit.” 

A key feature of FHS will be the Branded Residences Forum, presented by Accor One Living, focusing on the rising trend of branded residences in the Middle East and beyond. Worsley stated this forum is “set to be one of the biggest draws at FHS World,” providing attendees with insights into the intersection of real estate, branding, and hospitality.

He explained: “Investors are increasingly looking for diversified assets that can weather market fluctuations, and this is driving interest in branded residences and mixed-use developments.” 

Choufany added: “The hospitality industry is witnessing several emerging trends that are shaping the future of investments. One notable trend is the rise of extended stay and co-living spaces.” She noted that as remote work and digital nomadism gain popularity, investments in these properties are expected to grow, blending home comforts with hotel-like amenities.

This year’s summit will also feature Country Pavilions exhibitions showcasing hospitality projects from Greece, Italy, Morocco, the Maldives, and Sri Lanka. 

Worsley stated: “Our country pavilions are a platform for countries to showcase their hospitality projects and investment opportunities to a global audience, helping investors identify new markets.”

Innovation and creativity will be celebrated with several industry competitions, including the semi-finals of the UN Tourism Women in Tech Start-Up Competition and the new Sustainable Cook-Off, spotlighting top UAE chefs creating culinary masterpieces from locally sourced ingredients. The finals of the Sustainable Hospitality Challenge, a student competition founded by Hotelschool The Hague, will also return, continuing the tradition of recognizing innovative practices in the sector. 

Worsley remarked: “One of our most popular events is the Sustainable Hospitality Challenge, which enforces true sustainability through collaboration and is judged by world leaders in their field.” 

FHS World will also tackle challenges such as labor shortages and sustainability compliance through solutions-based discussions. Worsley explained: “FHS World addresses these challenges by bringing together experts in green technologies, automation, and workforce development to provide attendees with a toolkit for tackling these issues while capitalizing on new growth opportunities.”

As FHS World expands, it continues to serve as a premier platform for industry leaders to connect, share ideas, and shape the future of hospitality and tourism. Worsley stated, “Our vision for FHS World is to continue to help shape the future of hospitality investment and provide a platform — one that bridges continents and drives innovation, where industry leaders gather to forge partnerships to advance their businesses sustainably.”

With more sessions, speakers, and features than ever before, FHS World 2024 promises to be a defining event for the global hospitality and tourism sector, offering attendees unparalleled insights, networking opportunities, and pathways to invest in the industry’s future.


Saudi Cabinet approves new law to regulate petroleum, petchem sector

Updated 07 January 2025
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Saudi Cabinet approves new law to regulate petroleum, petchem sector

RIYADH: Saudi Arabia’s Cabinet has approved a new Petroleum and Petrochemical Law to ensure a reliable and secure supply of products within the Kingdom.

The law, which was approved on Jan. 7, is designed to optimize the use of raw materials in the sector and support the localization of the value chain, according to a report by the Saudi Press Agency.

The new legislation will replace the existing Petroleum Products Trade Law and is expected to achieve several key objectives, including regulating petroleum and petrochemical operations. It aims to accelerate the sector’s growth, foster economic development, and encourage increased investment in the industry.

Upon the law’s approval, Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman expressed gratitude to the Cabinet, emphasizing that the law would help establish a robust legislative framework for the Kingdom’s energy sector. He added that the new directive would facilitate the optimal use of petroleum and petrochemical resources.

The law will regulate the use, sale, purchase, and transportation of petrochemical products, as well as oversee the operation of distribution stations and petrochemical facilities, the Saudi Press Agency report noted.

In addition to the Petroleum and Petrochemical Law, the Cabinet approved several other agreements on Jan. 7. These include a memorandum of understanding for cooperation between Saudi Arabia’s Ministry of Justice and Singapore’s Ministry of Law, an MoU on health cooperation with Morocco’s Ministry of Health and Social Protection, and an MoU to strengthen digital government collaboration between Saudi Arabia’s Digital Government Authority and Qatar’s Ministry of Communications and Information Technology.

The Cabinet also endorsed an air services agreement between Saudi Arabia and Eswatini, a Southern African nation.

Furthermore, the Cabinet reviewed ongoing development programs and projects aimed at diversifying the Kingdom’s economy, exploring new revenue streams, and maximizing the use of available resources.


EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program

Updated 07 January 2025
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EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program

  • Aims to increase industrial sector’s contribution to GDP to at least 20% by 2025
  • Move seeks to attract additional investments, enhance non-oil exports, and create sustainable job opportunities

RIYADH: Electric vehicle manufacturer Lucid Motors has become the first global automotive company to join the Kingdom’s “Made in Saudi” program as the country continues strengthening its industrial capabilities. 

The milestone grants Lucid the right to use the “Saudi Made” label on its products, symbolizing the nation’s focus on quality and innovation. 

The strategy aims to increase the industrial sector’s contribution to the gross domestic product to at least 20 percent by 2025, tripling the current industrial base. 

It also seeks to attract additional investments, enhance non-oil exports, and create sustainable job opportunities, aligning with Vision 2030’s economic diversification goal.

“This is a step that represents a strong push to enhance the image of the national industry and attract investments and global companies, which consolidates the Kingdom’s position as a global center for innovative manufacturing,” Minister of Industry and Mineral Resources Bandar Alkhorayef said in a post on his X account. 

In a separate statement, the minister said that Lucid Motors’ inclusion in the program underscores Saudi Arabia’s strategic transformation toward creating a fully integrated electric vehicle manufacturing ecosystem. 

The minister added that this initiative aligns with the objectives of the National Industrial Strategy, which focuses on empowering promising sectors and attracting high-value investments in advanced industries.

Lucid’s participation in the program follows the launch of its first international manufacturing plant in Saudi Arabia in Sept. 2023. 

Located in King Abdullah Economic City, the facility is the Kingdom’s first-ever car manufacturing plant and represents a key milestone in its efforts to build a domestic automotive industry. 

The facility can currently assemble 5,000 Lucid vehicles annually during its first phase. Once fully operational, the complete manufacturing plant, including the assembly line, is expected to produce up to 155,000 electric cars per year. 

Saudi Arabia is aggressively promoting the adoption of electric vehicles as part of its Vision 2030 strategy, which aims to achieve net-zero carbon emissions by 2060. 

A critical target of the initiative is for 30 percent of all vehicles in Riyadh to be electric by 2030, contributing to a broader goal of reducing emissions in the capital by 50 percent. 

To support the transition, the Public Investment Fund — a major backer of Lucid Motors — has been instrumental in establishing a domestic EV manufacturing sector. 

In addition to its stake in Lucid Motors, PIF has launched Ceer, the Kingdom’s first locally branded electric vehicle manufacturer, as part of its efforts to bolster the industry. 

Infrastructure development is also a core focus, with the Kingdom planning to deploy 5,000 fast chargers across Saudi Arabia by 2030 to facilitate the adoption of EVs. 

Consumer interest in EVs is steadily growing, with over 40 percent of Saudi consumers considering purchasing an electric vehicle within the next three years, according to a 2024 report by London-based professional services network PwC. 

Faisal Sultan, vice president and managing director for the Middle East at Lucid Motors, expressed the company’s pride in joining the program, saying: “We are delighted to join the ‘Made in Saudi’ program and have the honor of using the ‘Saudi Made’ label, which represents quality and excellence.”

He added: “We are committed to embodying the values of this national identity, such as sustainability, innovation, and excellence. With the increasing focus on electric vehicles in the Kingdom, we aim to deliver an advanced and unique experience to our customers.”

The minister said that Saudi Arabia has emerged as a central hub for electric vehicle production, supported by modern infrastructure, incentivizing policies, and a highly skilled workforce. 

He also said that major players like Lucid Motors strengthen the Kingdom’s position as a global center for future-focused industries while contributing to increased local content, non-oil exports, industrial localization, and knowledge transfer. 

Launched in March 2021, Saudi Arabia’s Made in Saudi program promotes domestic products and services, encouraging local consumption and boosting non-oil exports. 

The move aligns with Saudi Arabia’s broader industrial strategy, which aims to increase the sector’s gross domestic product contribution to 20 percent by 2025 and drive investments in advanced industries. 

It also supports Vision 2030’s goal of reducing the nation’s reliance on oil by fostering high-value sectors like electric vehicle manufacturing.


Closing Bell: Tadawul maintains upward momentum, closes at 12,113

Updated 07 January 2025
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Closing Bell: Tadawul maintains upward momentum, closes at 12,113

  • Parallel market Nomu dropped 54.97 points, ending the session at 30,809.12
  • MSCI Tadawul Index rose by 3.48 points to reach 1,514.39

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trajectory for the second consecutive day on Tuesday, rising by 8.60 points, or 0.07 percent, to close at 12,113.29.

The benchmark index recorded a total trading turnover of SR7.71 billion ($2.05 billion), with 124 stocks advancing, while 110 saw declines.

In contrast, the Kingdom’s parallel market, Nomu, dropped 54.97 points, ending the session at 30,809.12. The MSCI Tadawul Index also gained ground, rising by 3.48 points to reach 1,514.39.

The standout performer of the day was Almoosa Health Co., which made its debut on the main market. The stock surged by an impressive 14.96 percent, closing at SR146. Other notable gainers included Al Mawarid Manpower Co. and Saudi Reinsurance Co., whose share prices climbed by 10 percent and 9.23 percent, closing at SR125.40 and SR63.90, respectively.

On the flip side, Al-Baha Investment and Development Co. saw its share price fall by 4.44 percent, ending the day at SR0.43.

On the announcements front, Filling and Packing Materials Manufacturing Co. announced it had signed a Shariah-compliant credit facility agreement worth SR50 million with Al Rajhi Bank to finance its working capital.

According to a statement on Tadawul, the 12-month credit facility is backed by a promissory note covering its entire value. FIPCO clarified that there are no related parties involved in the agreement. The company’s stock inched up by 0.44 percent, closing at SR45.70.

Meanwhile, LIVA Insurance Co. revealed it had received a Baa2 insurance financial strength rating with a stable outlook from Moody’s. The rating reflects the company’s strong capital adequacy, solid asset quality, and conservative investment strategy, alongside moderate reserve risk.

LIVA emphasized that the rating underscores Moody’s confidence in the company’s enhanced underwriting discipline and its ability to maintain profitability and growth within the Saudi market. A Baa2 rating is considered medium-grade, indicating a company’s acceptable ability to meet short-term debt obligations. LIVA’s stock gained 0.57 percent, closing at SR17.60.


Saudi Arabia eases domestic worker quotas for HR firms

Updated 07 January 2025
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Saudi Arabia eases domestic worker quotas for HR firms

  • Only firms with 3,000 workers or fewer now have to meet the threshold
  • Firms with more than 15,000 workers are fully exempt from any domestic worker quota

RIYADH: Human resources firms in Saudi Arabia have welcomed the reform of a rule that required 30 percent of all employees to be domestic workers.

The change to the law, announced by the Ministry of Human Resources and Social Development, means that only firms with 3,000 workers or fewer now have to meet that threshold.

Those with a workforce ranging from 3,001 to 10,000 workers will instead be obligated to maintain a reduced quota of 20 percent, with that level dropping to 10 percent for companies with staffing levels between 10,001 to 15,000.

Firms with more than 15,000 workers are fully exempt from any domestic worker quota.

This policy shift is expected to balance supply and demand in the support workers sector, improving its legislative environment. 

It comes at a time when Saudi Arabia’s human resources management market is experiencing rapid growth, and prior to this decision market research firm Horizon Grand View Research projected the sector would expand by a compound annual growth rate of 11.1 percent from 2024 to 2030.

Companies affected by the changes issued statements on Tadawul welcoming the new rules, with Mawarid Manpower Co. stating that “this decision will have an impact on the company’s business, as it will alleviate the company’s obligation to recruit a specific percentage of the total workforce.”

Similarly, Saudi Manpower Solutions Co., also known a SMASCO, highlighted that “this decision aims to achieve a balance between supply and demand, thereby improving the legislative environment for the support (domestic) workers sector.”

Maharah Human Resources Co., which employs over 15,000 domestic workers, said that “it is not required currently to comply with any percentage for the household workers out of the total workforce.”

The company highlighted the cost-saving benefits of the new system, noting that “it is expected that this decision will have an impact on the company’s long-term business, as it will alleviate the company’s obligation to recruit a specific percentage of the total workforce and reduce recruitment costs for household resources to ensure compliance with previous percentages.” 

Additionally, the firm stated that the amendment “gives the company the ability to increase the workforce in the corporate sector to meet the growing demand without any constraints limiting that.”

The reform reflects Saudi Arabia’s broader efforts to modernize labor laws and streamline operations across key sectors. 


Saudi Arabia sees 45% annual growth in domestic flight bookings: report 

Updated 07 January 2025
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Saudi Arabia sees 45% annual growth in domestic flight bookings: report 

  • Domestic room night bookings also saw 39% yearly growth
  • Cities such as Makkah, Riyadh, Jeddah, Al-Khobar, and Madinah remain key attractions

RIYADH: Saudi Arabia recorded a 45 percent annual growth in domestic flight bookings in 2024, fueled by the Kingdom’s expanding tourism offerings and increased connectivity through low-cost carriers. 

According to Almosafer’s latest travel trend report, domestic room night bookings also saw 39 percent yearly growth. Additionally, combined domestic flight and hotel reservations contributed over 40 percent to the overall travel market, an 11 percent yearly increase. 

The growth in domestic travel is largely driven by a broader range of destinations, accommodation options, and experiences that continue to attract leisure visitors to explore their home country. Family and group travel have been key contributors to this upward trend, with bookings in these segments surging by over 70 percent.

Commenting on the trends, Muzzammil Ahussain, CEO of Almosafer, said: “These travel trends align seamlessly with the government’s vision to enhance in-destination value and increase domestic tourism as part of Vision 2030.”

Cities such as Makkah, Riyadh, Jeddah, Al-Khobar, and Madinah remain key attractions. 

However, emerging destinations like Abha, Al Jubail, and Jazan, as well as Tabuk and Hail, are gaining momentum due to their distinct offerings, including mountain views, beaches, landscapes, and desert experiences. 

“The growth of domestic tourism and the rise of family and group trips, with a focus on unique accommodation experiences and rich in-destination activities, showcase the success of the national agenda of building a thriving leisure tourism sector that contributes significantly to the economy,” Ahussain added.

Almosafer’s report highlights a notable shift in traveler preferences for accommodations. While luxury remains prominent, with 36 percent of room nights booked in five-star properties, budget-friendly stays in three-star or lower hotels now represent 35 percent of total bookings — a segment that has grown 100 percent for families and groups. 

Alternative accommodations such as vacation rentals and hotel apartments have also gained traction, with family bookings rising 90 percent and group reservations increasing 60 percent, reflecting growing demand for flexible and affordable lodging options. 

Low-cost airlines have also played a crucial role in the domestic travel boom. Increased capacity, expanded connectivity, and additional routes have made budget carriers more accessible to cost-conscious travelers. 

While flight bookings grew by 45 percent, the average order value decreased by 7 percent, demonstrating how expanded options are enabling travelers to secure more cost-effective deals. 

In-destination activities have become a cornerstone of travel value, with visitors increasingly opting for guided tours, adventure sports, and cultural experiences. 

Booking behavior also evolved in 2024, with mobile platforms dominating the market. App bookings grew by 67 percent and accounted for 76 percent of total bookings, while web reservations contributed 17 percent, reflecting 7 percent growth. 

Retail bookings, though representing a smaller 7 percent share, remain relevant for complex and higher-value itineraries as travelers seek in-person assistance for personalized planning. 

Flexible payment options have further transformed the travel market. Buy now, pay later plans have gained popularity, while Apple Pay accounted for 44 percent of all domestic bookings processed in 2024, reflecting the growing adoption of digital payment methods.