In a strategic move aimed at strengthening its presence in the tourism and hospitality sector, Responsible Trading Company (Ratio) announced the signing of five Memoranda of Understanding with leading tourism establishments in Al-Ahsa Governorate. This step is part of the company's expansion plans to target cultural and heritage destinations, directly aligning with the goals of the Kingdom's Vision 2030, which aims to diversify the national economy and develop the tourism sector.
In an official statement published on the Saudi Stock Exchange (Tadawul) website, the company revealed that these agreements stem from its ambitious strategy to solidify the position of the "Ratio" brand within the heritage and tourism sectors. The company affirmed its commitment to supporting domestic tourism by offering high-quality cultural experiences befitting the Kingdom's status as a global tourist destination and meeting the aspirations of visitors and tourists seeking authentic experiences.
Partners in Success at Palm Oasis
Ratio explained that the list of entities with which agreements were signed includes key players in the Al-Ahsa tourism sector: the Al-Ahsa Tourism Cooperative Society, Baqsha Travel Agency, Lafa Travel Agency, Kashta Anis Travel and Tourism Services, and Al-Fakhriya Travel Agency. These memoranda of understanding are valid for 12 months from the date of signing, providing ample time for implementing joint initiatives.
Al-Ahsa: A historical depth and global standing
Al-Ahsa Governorate was chosen as the destination for these partnerships due to its unique tourism potential. More than just an agricultural oasis, Al-Ahsa is a UNESCO World Heritage Site and the largest palm oasis in the world. The governorate boasts significant historical sites such as Jabal Al-Qarah, the Jawatha Mosque, and the historic Al-Qaysariyah Market, making it a fertile ground for tourism investment and the provision of high-end hospitality services that blend seamlessly with the richness of history.
Alignment with the Kingdom's Vision 2030
These agreements are particularly important given the economic growth the Kingdom is experiencing, as the National Tourism Strategy aims to increase the sector's contribution to the GDP and attract millions of visitors annually. The role of the private sector, represented by companies like Ratio, is pivotal in improving the quality of services offered at heritage sites and transforming tourist visits into integrated experiences that blend modern hospitality with local cultural heritage.
Scope of cooperation and future goals
Under these memoranda, Ratio will work alongside its partners to develop tourism services and enhance the visitor experience at cultural destinations. The collaboration will focus on highlighting the region's local cultural components, contributing to the attractiveness and sustainability of these destinations and supporting their position as value-added tourism destinations, where tourism is no longer limited to visiting places, but extends to the quality of services provided and the overall visitor experience.
