What does the Kingdom possess in terms of complementary services within the exhibition industry (such as hotel capacity or urban-transport facilities)?
Riyadh is a city of five million people and offers accommodation to suit all budgets. We have five-star hotels on the one hand and then a wide range of budget accommodation choice in furnished apartments. I do not know the latest statistics of the room availability, but I am sure it is adequate for the time being. If you can get a furnished apartment room for US$30 a day dur- ing a large event and spend US$4 to US$5 each way for a taxi, I think the supply and demand is well-balanced.
Another important aspect is the process
of obtaining a visa for the business traveller. We have seen a significant improvement in processing the business visas and that has resulted in a regular flow of overseas trade visitors to the shows in Riyadh. Regulations still favour the local event organiser. International organisers who do not have a Saudi office are required to operate their shows in partnership with a national organiser. We are in the process of working out some international events where we play the role of a co-organiser to offer local assistance and to obtain licenses for the event.
We also need to revisit our infrastructure to host large-scale shows and confer- ences as the demand for such events is increasing. For this reason, we have plans to add another 10,000 square metres to our existing indoor space, increasing it to 25,000 square metres. We are also in a process of building a 200-key hotel at RICEC.
How are regulators contributing to the development in the exhibition industry in the Kingdom?
You will find regulations wherever you try and organise an exhibition in the world. We have seen a significant increase in FDI in the Kingdom, which tells us that the busi- ness environment is excellent and is still improving. We have seen a recent upsurge in the numbers of business visitors to the events held at the RICEC, which is definitely a positive sign and tells us that regulators are contributing positively.
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Similarly, most of the hot local meals range between US$5 and US$20. I have been to several events in Europe and in the neighbour- ing cities in GCC and, in my view the standard, availability and cost-effectiveness of the supplementary services in Riyadh is much better than elsewhere, especially when the exhibitors' return on investment (ROI) is also very high compared to anywhere else in the region. Local transportation is generally provided by the hotels or event organisers to take delegates to and from the exhibition and conference venue. Additionally, shopping in Riyadh can spoil you for choice. You will find a large shopping mall at al- most every important turn and corner in the city. The government has provided incentives in inviting more investment in developing hotels. With the current rate of growth in the MICE sector it is quite understandable that the current inventory would soon become insufficient. We understand that there are about ten hotel prop- erties in four- to five-star range, providing 3,000 keys, under development in Riyadh at present. Furthermore, there is a plan to improve public transportation within the city. Authorities have planned a mono-rail along King Abdullah Road, which will connect the RICEC with all the major parts of the city, hotels and shopping malls in a matter of minutes. There is also a national rail- way project aiming at connecting all the major cities in the Kingdom.
What is the potential for Saudi Arabia to become a premier MICE tourism destination in the region? If you look at the statistics alone we are already at the top of the list when it comes to tourist arrivals, although a significant part of that number is related to pilgrim- age. However, the system of receiving and handling tourists is in place in the country, because we have been receiving pilgrims for the past fourteen hundred years. You can understand that it is part of our life to be good hosts.
When it comes to business tourism, we have seen a substantial increase in re- cent years. What was lacking in the past was a world-class facility to host events of an international standard. Now that we can offer a new meeting place to trades and industries in the Middle East, we feel confident that Riyadh will soon become the destination of choice for meetings industry professionals. For instance, we have seen UBM choosing Riyadh for their inaugural event 'IFSEC Arabia' held last year and there are several more branded events coming in the near future. At RICEC, we have 15,000 square metres of column-free indoor exhibi- tion space and 5,000 square metres of outdoor space. We have extremely well- appointed services to make RICEC a class of its own. We have a 1,100-seat highly equipped and technologically advanced auditorium and 1,800 parking spaces, 300 of which are covered.
With attractive incentives from the gov-
ernment to the hospitality industry, the largest purchasing power parity (PPP) in the region on offer, the largest consumer base in GCC and the highest ROI for participants, we are sure Saudi Arabia, in general, and Riyadh in particular, has a definite advantage in becoming the regional leader in business tourism in the foresee- able future.
RICEC'S 1,100-SEAT TECHNOLOGICALLY ADVANCED AUDITORIUM
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