Islamic heritage and Saudi Arabia’s quest for a diversified economy
Although Saudi Arabia is home to some of the world’s most historically significant Islamic sites, international tourists have yet to add visiting the Kingdom to their bucket lists.
For decades, the Saudi economy has remained heavily reliant on oil, so much so that it has dominated the nation’s reputation. However, over the past few years, through its Vision 2030 reforms, the new Saudi government has been actively diversifying its economy. One such diversification is building a tourism sector, a notion unthinkable even a decade ago.
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Integrate or Wait? That Is the Question
The robust M&A activity of 2021 notwithstanding, it is still unclear when most employees will return to offices or other in-person activities. Yet, as more deals continue to materialize, companies will undoubtedly be tempted to attempt to integrate remotely. As past decades of M&A experience have shown, and given how challenging integrations are under the most favorable conditions, and how difficult it is to successfully execute an integration, the idea of adding the remote element to it and expecting no hits to desired outcomes is more “wishful thinking” than it is realistic…
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Don’t Throw-out the ‘Secret Sauce’ When Acquiring Boutique Properties
The hotel industry’s thirst to acquire boutique properties is unquenchable. The race is on for corporations to make certain they don’t miss out on this megatrend. Big players are trying to participate in the boutique bonanza by buying rising stars in this category, but merging properties that flaunt localized individuality over systemized efficiencies can create special challenges for bottom-line driven organizations.
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A Rough Patch on A Smooth Road - The Impact of the Economic Crisis On Egypt
The 2009 global financial crisis has now reached the Middle East, and Egypt’s economy will not escape. With more than 30 percent of Egypt’s government revenue tied to oil prices and global trade, and the majority of Egyptians living on less than US$2 per day, Egypt’s economy will likely be under pressure. Nonetheless, looking beyond the current crisis, Egypt will benefit from maintaining the economic liberalization and reform policies that helped propel the economy, as they will help foster sustained growth as the inevitable global economic upturn materializes.
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Green Tourism A Road Map for Transformation
Tourism and environmental sustainability have steadily become intertwined. As global awareness of climate change grows, travelers—especially in key source markets such as western Europe—are demanding environmentally sustainable destinations. Heeding their call, leading tour operators are giving marketing preference to such locales. Across the globe, tourism destinations are realizing that becoming environmentally sustainable is key to staying competitive.
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Renewed Hope for Agriculture
After years of neglect, agriculture has reemerged as a sector to watch in developed and developing countries. The recent surge in food demand and the associated rise in international food prices have revitalized agriculture: Countries that have maintained a strong sector have benefited in terms of greater opportunities in agricultural and processed food exports, and the ability to ensure that their own people have available and affordable food. Countries with underachieving or limited agriculture sectors, by contrast, may face an upward spiral of shortages and increasing food subsidies.
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