Letter from Riyadh

My recent trip to #Riyadh  in #SaudiArabia, was enjoyable and interesting, especially considering recent events. What a difference one-year can make, particularly reading such positive international press articles after the 2017 ‘#Davos in the Desert’ (Saudi #Investment Conference) then negative articles during last year’s event. On the ground though, little changed, the vast majority of Saudi youth remained solid in their support of MBS and that love, and support continues to grow.

Were there criticisms; yes of course, but whilst businesses have suffered badly following the broad range of government initiatives such as the ‘family tax’, increased petrol prices etc, all I spoke to acknowledge that whilst these taxes where sudden, creating a mini recession, they were needed and short-term pain will be followed by growth and the creation of more jobs for Saudi nationals.

Of all the major cities in the Kingdom, Riyadh was probably the most conservative. So, over my 13 years of traveling into Saudi Arabia, what have I noticed that’s different about Riyadh?

1.Probably because of that conservatism the change here is more noticeable. Young people are quite outspoken. One example: I entered a typical restaurant with a young Saudi. When the waiter moved us to another floor because we were in the family section. He responded, ‘very loudly’ so all could hear “we are all brothers, sisters, the same, we should be sitting together”. I hide behind him! In the past, a Saudi could only speak out like this if he/she had ‘wasta’ (high level connections). But today, the young feel empowered, they have a voice and they insist on using it.

2. I stayed in the Centro Olaya, one of many newly open and very pleasant hotels right in the heart of Riyadh. The weather was amazing, clear blue skies, but cool dry air, 7 degrees in the evening, colder that London! I walked to a number of meetings as most people in the winter now do. As I looked out of my hotel window each morning, I would see many locals and expats, with backpacks and briefcases, striding to work, a scene normal in most cities but I do not remember seeing this 10 years ago in Riyadh. I, like many, were very cautious about security, particularly in Riyadh. But today, one does not feel threatened at all plus there is comfort with so many other people out walking the streets.

3. One positive commercial experience: I met the #CEO of a very large multi vertical group in April last year. He admitted that following #government initiatives, all of their many business lines where losing money. I met the same gentleman in October, and he was far more optimistic. The government had started to honor payment on contracts, they had restructured the business with some up-side in that efficiencies where improved and he was looking forward to a return to profit by this year, which has now been the case.

4. 10 years ago it was rare to find people prepared to relocate from Riyadh to Jeddah or Jeddah to Riyadh. We at TRANSEARCH have recently moved #Jeddah born Saudi professionals to Riyadh and clearly many more Saudis living in other cities recognize that career opportunities exist in Riyadh. Local and international organizations are setting up in the many new and impressive real estate developments such as RDC (AlRaidahDigitalCity) and KAFD (KingAbdullahFinancialDistrict)

Excluding #Khobar, Saudi Arabia has not had cinemas since 1983. Business in important but we all need some ‘me time’ so I look forward to being one of the first to take Riyadh’s metro to the cinema in Riyadh Park Mall. Now that’ll be a 1st for me!

Next trip and letter: Dammam