CEO of Red Sea Global discusses Saudi Arabia’s ambitious project
The Red Sea Project stands as a testament to Saudi Arabia’s
aspiration to emerge as a premier tourist destination. The initiative seeks to
revitalize the country’s western coastline, blending luxury, sustainability,
and innovation to fuel economic expansion. In
an exclusive interview with Economy Middle East, John Pagano, the CEO of
Red Sea Global, delves into the project’s significant milestones, challenges,
and sustainability initiatives.
Q: The Red Sea Project is hailed as “the world’s most
ambitious luxury tourism development.” What are the major milestones achieved
thus far?
A: The year 2023 marked a momentous period in our
journey, with the official inauguration of our first two resorts: Six Senses
Southern Dunes, The Red Sea, and St Regis Red Sea Resort, offering a total of
166 keys to visitors. Nujuma, a Ritz Carlton Reserve, is now open for bookings,
with three additional resorts slated for a 2024 launch. Furthermore, in
September 2023, we commemorated our inaugural flight to the state-of-the-art
Red Sea International Airport, followed by the reception of our first
international flight from Dubai on April 18. Another noteworthy milestone was
the inaugural seaplane flight operated by our subsidiary, Fly Red Sea, aimed at
ferrying guests to the island resorts amidst crystal-clear waters. These
accomplishments solidify Saudi Arabia’s prominence on the global tourism map.
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Q: How does the Red Sea destination contribute to the
local economy and job market, aligning with Vision 2030?
A: At the heart of our mission lies regenerative
tourism, a cornerstone of Vision 2030. This approach underscores our commitment
to fostering economic growth while preserving and enhancing the environment.
The Red Sea Project is anticipated to generate 70,000 new jobs, nurturing
talent for the burgeoning tourism sector. We prioritize the development of
local talent by offering scholarships and training programs, thereby supporting
the Kingdom's goal of elevating tourism's share of national GDP to 10 percent.
As the project nears completion, it is projected to inject SAR22 billion into
the national economy, further bolstering Vision 2030 objectives.
Q: What challenges have you encountered, and how are they
being addressed?
A: Addressing environmental concerns is paramount,
particularly given that 11 percent of global CO2 emissions stem from the
industry. Our regenerative initiatives aim to achieve a 30 percent net
conservation benefit by 2040, encompassing endeavors such as mangrove
reforestation and coral regeneration. Pre-construction, we conducted a
comprehensive marine spatial planning simulation to inform conservation
efforts, leading to the designation of conservation zones and the protection of
critical habitats. Furthermore, by embracing renewable energy sources and
implementing innovative technologies, such as off-grid battery storage
facilities, we strive to minimize our ecological footprint.
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Sea Global's commitment to sustainable tourism
Q: How do you balance luxury tourism with environmental
sustainability and conservation?
A: Our approach emphasizes seamless integration of
luxury experiences with environmental stewardship. Resorts are meticulously
designed to harmonize with natural surroundings, offering guests a sense of
tranquility while preserving biodiversity. The Red Sea operates on 100 percent
renewable energy, with solar farms and off-grid battery storage facilities
ensuring sustainable operations. Additionally, guests are actively engaged in
regenerative initiatives, fostering a deeper appreciation for conservation
efforts.
Q: What trends do you anticipate reshaping Saudi’s
tourism and hospitality industry?
A: Sustainability and wellness are burgeoning trends
that Saudi Arabia is well-positioned to capitalize on. With a growing emphasis
on sustainable travel and wellness tourism projected to reach $8.5 trillion by
2027, there exists a significant opportunity for the Kingdom to emerge as a
leader in these domains. Initiatives such as mangrove reforestation and
partnerships with wellness brands underscore our commitment to sustainable tourism,
positioning Saudi Arabia as a trailblazer in the global hospitality landscape.
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About John Pagano: John Pagano serves as the CEO of
Red Sea Global, overseeing the development of regenerative luxury tourism
destinations along Saudi Arabia’s Red Sea coast, including The Red Sea and
AMAALA. With over 35 years of international experience in the commercial
property industry, Pagano is dedicated to advancing sustainable tourism
initiatives while driving economic growth. Prior to joining Red Sea Global, Pagano
held executive positions at Canary Wharf development in London and served as
president of Baha Mar Development Company Ltd. He holds a BASc degree in
Mechanical Engineering from the University of Toronto.
Source: https://economymiddleeast.com/
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