Accor’s CEO, Sebastien Bazin, believes that Saudi Arabia’s Vision 2030 plan, particularly in relation to tourism and economic goals, is ambitious. Despite reports of delays and scaling back on certain aspects of the plan, Bazin feels that even if only half of the targets are achieved, it would still be a remarkable achievement. He praises the leadership of Mohammed bin Salman and emphasizes the importance of having ambitious visionaries in positions of power.
Tourism is a crucial part of Saudi Arabia’s transformation plans, with the goal of becoming the second-largest contributor to the Saudi economy after oil by the end of the decade. This goal has led to the launch of massive projects costing billions of dollars, attracting luxury hotel brands like Accor. The company has signed agreements for properties in various mega-projects such as Habitas, Banyan Tree, Raffles, 25hours, and Faena hotels in different regions of Saudi Arabia.
Knight Frank estimates that by 2030, 82% of all new hotel rooms in Saudi Arabia will fall under the luxury and upscale categories, with a significant portion of these rooms planned for projects like Neom, the Red Sea region, and Diriyah. Bazin believes that despite these ambitious goals, it is essential to start slowly in developing tourism in Saudi Arabia. He suggests beginning with smaller hotels to respect nature and avoid sending the wrong message about the destination.
After concerns were raised about the affordability of the Saudi Vision for travelers, the government clarified that only 20% of future hotels would be in the four-star category or higher. This revelation indicates a shift towards more affordable mid-market hotel developments in the near future. Bazin explains that Accor’s focus on luxury hotels in the kingdom is a response to the government’s request, but he anticipates a shift towards more mid-scale offerings in secondary and tertiary cities.
Bazin remains optimistic about the development of tourism in Saudi Arabia despite potential slowdowns in projects. He believes that it is better to have ambitious dreams and achieve a portion of them rather than not dream at all. Building infrastructure in Saudi Arabia, such as access to water and energy, is a significant challenge, but Bazin appreciates the enormity of the vision put forth by Mohammed bin Salman. He emphasizes the importance of humility in approaching such ambitious plans.
Overall, Bazin supports the ambitious goals set by Saudi Arabia’s Vision 2030 plan and praises the leadership for their vision. He believes that even partial achievement of the targets would be a significant milestone and that it is crucial to continue striving towards these goals. Despite challenges and potential delays, Bazin remains committed to Accor’s involvement in the development of tourism in Saudi Arabia, focusing on luxury offerings while also anticipating a shift towards more affordable options in the future.
