The theme for the Future Hospitality Summit (FHS) 2023, taking place from 25-27 September at Hilton Abu Dhabi Yas Island in Abu Dhabi, is ‘Focus on investment’. The conference programme will comprise several content tracks under the main theme, including Investment, Operating Models, Innovation, the Future of Tourism and ESG. In the lead up to the event we asked several industry partners about their focus on investment in 2023 and beyond.

The Kingdom of Saudi Arabia is on a transformative journey to achieve the objectives of Vision 2030, a comprehensive growth and development roadmap to deliver social, economic, and sustainability goals. This transformation is unprecedented in ambition, scale, and impact, touching the lives of all Saudis and all the sectors of the economy.

This transformative journey will fulfill the vision of the Kingdom’s leadership and the aspirations of the Saudi people, including the youth who make up for 63 per cent of the Kingdom’s population. It is creating new opportunities such as jobs and businesses in legacy and emerging sectors. Building world-class infrastructure and creating services to enhance quality of life are also key objectives of Vision 2030.

Every sector and industry of the Kingdom, and businesses and companies in Saudi Arabia are partners of Vision 2030 and are aligned to its objectives. The tourism sector and hospitality industry are emerging as the key drivers of the diversification of the Saudi economy.

Boutique Group, a company owned by the Saudi Public Investment Fund or PIF, is proud to be a key player in the Saudi hospitality industry and has an important role in supporting the country's Vision 2030 agenda. This includes investing in human capital to develop a skilled and productive workforce.

The Boutique Group is specialized in the renewal and restoration of the Kingdom’s historic royal palaces, turning them into glamorous luxury hotels that offer rich cultural experience to its guests. By reintroducing the past with a modern twist, the Group aims to revive the Kingdom's Historical palaces and contribute to Vision 2030 goal of positioning the country as a global tourist hub.

The fruits of this transformation are today visible: Saudis’ participation in the labor force has vastly improved in recent years; women are part of private and public sector workforce; and young entrepreneurs are benefitting from new business opportunities in the Kingdom.

The Kingdom’s Ministry of Tourism last year launched a series of programs to develop skills in the tourism and hospitality industry. The ministry aims to attract around 100,000 young Saudi youngsters and create a pool of homegrown talent for the tourism sector, which accounted for 3.2 per cent of the Saudi GDP, generated a revenue of SAR 185 billion, and registered 21 per cent jump in domestic tourism last year.

Saudi Arabia is also investing massively in tourism infrastructure and entertainment and is on track to have around 310,000 new hotel keys by 2030 when the sector is expected to contribute to 10% of the Kingdom’s GDP.

To support this growth, Boutique Group is investing in employee training and development and partnering with leading hospitality industry educators to ensure that our workforce is equipped with the skills and knowledge needed to deliver exceptional service. These investments will help in creation of Saudi talent pool and support knowledge transfer in the industry.

Boutique Group strongly believes that the Saudi youth are the face of the Kingdom’s tourism industry, proudly showcasing their rich heritage, culture, and warm hospitality to the world. Today, Saudis account for 85 per cent of the Group’s workforce that includes 39% women, a milestone we have achieved by investing in our manpower and working closely with all stakeholders.

We also believe that investing in human capital fosters innovation and creativity within Boutique Group, which is critical for staying competitive in the rapidly evolving hospitality industry. By developing a skilled and knowledgeable workforce, we can stay ahead of industry trends and continue to deliver exceptional experiences to guests.

The Group is also promoting social and economic development by creating job opportunities, developing local talent, and fostering diversity and inclusion in the workplace. This aligns with the goals of Vision 2030 to create a thriving and innovative economy that benefits all members of the society.

Boutique Group is proud to support the transformation of the Kingdom into a leading tourist and cultural hub with a commitment to showcasing the uniqueness of the Saudi Arabian history and culture to the world while supporting the development of the Kingdom’s tourism sector and diversification of the economy.

The author is the CEO of Boutique Group, a wholly owned subsidiary of Public Investment Fund (PIF)

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