https://arab.news/zevjz
- Industry leaders highlight investment opportunities
- 3-day summit saw numerous deals agreed
RIYADH: Experts in the meetings, incentives, conferences and exhibitions sector spoke to Arab News about the need for international collaboration and local investment on the last day of industry talks in Riyadh.
On the final day of the International MICE Summit on Tuesday, business leaders highlighted how the booming industry offered unique opportunities for job creation and investment.
The three-day event covered sector-related issues and hosted the signing of several agreements and memoranda of understanding.
Six Saudi ministers took part in IMS24, which was organized by the Saudi Conventions and Exhibitions General Authority. A total of 20 speaking sessions and 19 workshops were held, and eight MoUs signed.
IMS24 also witnessed companies including RX Global, Messe Munich, and Clarion announce the opening of new offices in Saudi Arabia, in preparation for 12 new events due to start in 2025.
Faisal Al-Rajhi, CEO of Almatar Travel Group, told Arab News that the Kingdom’s hosting of numerous exhibitions and conferences in recent years had helped it become a pioneering destination for the MICE industry.
Exhibitions and conferences were boosting job growth and offering local investors the chance to gain valuable insights from international experts, he added.
Mansour Al-Jabarty, CEO of YNZ, said IMS24 was an ideal platform for those seeking to gain expertise in the field and held exceptional significance given Saudi Arabia’s prominence in hosting such events.
Bilal Al-Barmawi, CEO and managing director of 1st Arabia, stressed the importance of building partnerships to increase MICE capabilities, while Ahmed Al-Saif, chairman of Max Group, added local investment in the sector had become an urgent necessity for companies seeking to go global.
The MICE segment was a key driver of economic growth, and the Saudi market was now an attractive destination for foreign investment, he added. This would not have been realized without the boom in exhibitions and conferences that the Kingdom has witnessed in recent times.