#Saudi Arabia #Riyadh #Tourism #Sommet Education #Tanmeya Capital

Saudi-Swiss Partnership Launched

A groundbreaking partnership between Saudi Arabia and Switzerland, aimed at enhancing education and talent development in the fields of tourism, hospitality, and culinary arts, was officially announced during the 'TOURISE 2025' summit in Riyadh. This initiative is under the patronage of Mr. Ahmed bin Aqil Al-Khateeb, the Saudi Minister of Tourism, as part of the country’s Vision 2030 strategy.

Partnership Overview

The collaboration involves Tanmeya Capital, which manages the Tanmeya Hospitality and Tourism Fund (THTF) with a financial commitment of 600 million Saudi Riyals (approximately EUR 140 million). This fund is dedicated to nurturing talent and enhancing infrastructure within the Saudi hospitality sector. Co-partnering with Tanmeya Capital is Sommet Education, the parent company of prestigious institutions like Les Roches, École Ducasse, and Glion Institute of Higher Education. Together, they have signed a 25-year exclusive agreement to establish and manage a comprehensive educational ecosystem in the Kingdom.

Goals and Objectives

The primary goal of this partnership is to equip both Saudi and international students with world-class skills tailored to meet the growing demands of the tourism and service industries in Saudi Arabia. By doing this, the initiative aims to create high-quality and sustainable job opportunities, thereby reinforcing Saudi Arabia's position as a leading regional hub for education in tourism and hospitality. Marie-Claude Mathieu, a board member and Group General Counsel of Sommet Education, emphasized that this initiative reflects a shared vision of fostering talent and shaping the future of excellence in hospitality.

During the summit, a Memorandum of Understanding was signed between Tanmeya Capital and Wadi Jeddah, the investment arm of King Abdulaziz University, to explore the potential establishment of a new campus in Jeddah. This venture aims to develop the talent pool even further and cater to the increasing needs of the hospitality sector.

Vision 2030 and Human Capital Development

The development of human capital in the hospitality and tourism sector is vital for achieving the objectives laid out in Vision 2030 and the Human Capital Development Program. Mr. Mohamed Musaiqer, Chairman of Tanmeya Capital, stated that this partnership showcases how defined national and international collaborations can lead to sustainable social and economic impacts in the Kingdom.

Transforming Saudi Arabia's Economy

This collaboration represents a significant milestone in Saudi Arabia’s transition towards a knowledge-based economy by integrating both public and private sectors with international expertise. The initiative focuses on training future leaders in the burgeoning tourism and hospitality industries, which are increasingly pivotal for the Kingdom's economic diversification plans.

In conclusion, the Saudi-Swiss partnership not only aims to elevate education within the hospitality sector but also seeks to create a ripple effect that positively impacts the broader economic landscape of Saudi Arabia. For more information about the partnership and its ongoing developments, visit Sommet Education and Tanmeya Capital.