Saudi Red Sea Authority to deepen maritime cooperation at Monaco Yacht Show

Saudi Red Sea Authority (SRSA) is participating in events around Monaco Yacht Show this week (27th-30th September), including a roundtable discussion on sustainable tourism, meetings and workshops, in line with the Authority's mandate to build and strengthen international partnerships in the maritime sector.

During the week, SRSA is meeting with maritime entities that include marina operators, shipyard operators, coastal tourism consultants, and specialized media outlets in tourism and coastal tourism, with the aim of building partnerships and attracting investments in Red Sea coastal tourism.

SRSA Acting CEO Mohammed Al-Asiri said, "Monaco Yacht Show, a key event in the yacht industry, is an invaluable opportunity for Saudi Red Sea Authority to build and enhance global relationships in the coastal tourism sector. We look forward to sharing experiences and knowledge so that we can stimulate Red Sea tourism growth with sustainability at the core."

SRSA was furthermore invited to participate in a roundtable discussion on Monday

25th September, titled "Why Sustainable Tourism Is a Key Asset of Economic Growth and The Key Role Played by Public Organizations and Policy Makers." held as part of Monaco Smart & Sustainable Marina Rendezvous 2023. Organized by Monaco Marina Management at the Yacht Club de Monaco, the event brings together an ecosystem of entrepreneurs and startups to meet industrialists, marina developers and other stakeholders to find innovative solutions to promote marina development.

SRSA previously visited Monaco in August this year where they signed Memorandums of Understanding (MoUs) with Monaco Yacht Club and Prince Albert Il of Monaco Foundation. The MoUs focused on developing coastal tourism in the Red Sea.

Through its work, the Authority aims to achieve its vision in leading the maritime ecosystem by enabling navigational and marine tourism activities. SRSA has built a framework resulting from the integration of efforts from 19 government entities to create the first geographical navigation map of its kind in the Kingdom, defining the geographical scope for maritime and marine tourism activities on the Red Sea coast.

This also includes examining how to determine and classify exempted areas, reviewing legislative requirements and governance, and developing digital solutions to guide the implementation process. All have the goal of building a sustainable coastal tourism economy for the Red Sea, given the Kingdom's unique geographical location, and making it a significant hub for maritime and marine tourism activities in the region.