meetings
SECTOR OVERVIEW
1
MANY OF THE RECOMMENDATIONS MADE BY THE WORLD BANK AND KENNEDY’S STUDY HAVE BEEN ASSIMILATED INTO THE SECB’S FIVE-YEAR ACTION PLAN, WHICH RUNS UNTIL 2018
placed on regulation and the licensing of events,” confirms Al Essa. “However, recent advancements have cleared the way for future development. Business tourism is a sizable portion of Saudi Arabia’s tourism, as the World Bank study confirms and the exhibition and convention sector, which is a part of business tourism, provides high-yield returns.” The World Bank report found business
tourism accounted for 47 percent of all visits to the Riyadh region in 2010, with business tourist expenditure amounting to 60 percent of all visitor expenditure. Around 10 percent of those business
tourists were attending events at RICEC, with total meetings taking place at the facility in 2010 generating US$97.9 million (SAR367.24 million) direct spending in the Riyadh region economy.
24 Every US$267,000 (SAR1 million) spent on
meetings at RICEC resulted in direct added value of US$162,619 (SAR610,000) including delegate spending on tourism services, as well as another US$178,881 (SAR671,000) in related activities across other parts of the economy. “The direct effects of the meeting industry at RICEC contributed US$42.1 million (SAR158.1 million) to the Riyadh region’s GDP in 2010,” the report says. “Meanwhile, the indirect and induced effects on GDP are an estimated US$46.36 million (SAR173.9 million). The economic impact of the Dhahran
International Exhibition Center (DIEC) and Jeddah International Exhibition and Convention Centre (JIEC) were also measured. Direct spending on meetings held at DIEC contributed around 1.1 percent added value to the tourism
sector in 2010 with the centre attracting 10.4 percent of all business tourists. DIEC meetings generated US$42.87
million (SAR160.8 million) direct spending in the Eastern Region economy and the direct effects of its meetings contributed US$23.3 million (SAR87.5 million) to the region’s GDP in 2010. JIEC is ranked in third place among
the centres with its contribution to tourism in the Makkah region amounting to just 0.2 percent, primarily due to this region’s fast-growing religious tourism industry. However, JIEC received 12.2 percent of all business tourists visiting the Makkah region in 2010. Meetings at JIEC generated US$27.4
million (SAR106.2 million) direct spending in the Makkah region economy and the direct effects of its meetings
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