Latest news with #BørgeBrende
Dubai Eye
08-07-2025
- Business
- Dubai Eye
UAE, WEF unveil global platform for regulatory innovation
The UAE has launched a major global initiative to drive innovation in legislation. In partnership with the World Economic Forum (WEF), the UAE Cabinet's General Secretariat has unveiled the 'Global Regulatory Innovation Platform'. The initiative will act as a hub for legislative innovation worldwide, helping governments create agile, forward-looking regulations in response to rapid technological change. It will offer tools like a Global Regulatory Playbook and a Future-Readiness Index, helping lawmakers assess and improve their legal frameworks. The agreement was signed in Geneva by Maryam bint Ahmed Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, and Børge Brende, President and CEO of the WEF. Al Hammadi says the UAE is committed to sharing its expertise and shaping future-ready legislation worldwide, while Brende praised the initiative, saying it will help governments keep pace with fast-moving innovation. — UAEGOV (@UAEmediaoffice) July 7, 2025
Zawya
07-07-2025
- Business
- Zawya
The General Secretariat of the Cabinet and the World Economic Forum launch the Global Regulatory Innovation Platform
Geneva- Switzerland: Within its ongoing efforts to modernize the federal legislation and advance the UAE's global standing as a leader in regulatory innovation, the General Secretariat of the UAE Cabinet has signed a cooperation agreement with the World Economic Forum, launching the new initiative dubbed the Global Regulatory Innovation Platform. The platform will serve as an incubator for regulatory innovation worldwide, leverage international efforts in the quest for solutions to emerging challenges, assess the effectiveness of legislative ecosystems to ensure they are future-ready, and enhance international cooperation in agile governance. The agreement signing was attended by Her Excellency Maryam bint Ahmed Al Hammadi, Minister of State and Secretary General of the UAE Cabinet, and Børge Brende, President and CEO, World Economic Forum. Her Excellency Al Hammadi said, "Based on our decades-long cooperation relationship, the World Economic Forum is a strategic partner we can rely on. The Forum has closely experienced to what extent our government is efficient and open in its work, and serious about the efforts deployed to realize its future visions and achieve its goals, in all fields." Her Excellency added, "Our government has always been open to adopting the best regulatory practices worldwide, and to sharing knowledge and expertise with other governments. Through establishing the Global Regulatory Innovation Platform, in partnership with the WEF, our government seeks to advance the development of legislative work globally, not just nationally. This is particularly accurate given that our government has accumulated extensive experience in swiftly and effectively updating and developing our legislation and measuring their impact. We have launched, in the last few years, several pioneering legislative projects, such as the UAE-Legislation platform, the Regulations Lab, and the Regulatory Intelligence Ecosystem." Her Excellency Al Hammadi added, "The new Global Regulatory Innovation Platform will contribute to showcasing the best legislative strategies and practices worldwide and will provide the latest and most accurate data related to the legislative sector. Consequently, this will contribute to supporting lawmakers and guiding them to achieve effective governance. The new platform will also provide them with tools to conduct assessments of current legislation in their countries and support their readiness for the "Smart Age." Furthermore, the platform will enhance knowledge exchange among legislators, experts, entrepreneurs, civil society, and members of academia by regularly launching specialized global events and initiatives." "Innovation moves fast — regulation must too,' said Børge Brende, President and CEO, World Economic Forum. 'GRIP enables governments to co-create policy frameworks that are agile, anticipatory, and ready for the technologies shaping our future.' The Global Regulatory Innovation Platform will develop a "Global Regulatory Playbook," which aims to support and guide regulators in achieving effective governance. It will also showcase the best strategies, practices, and case studies that demonstrate how effective regulations and standards contribute to achieving sustainable development, encouraging innovation, and keeping pace with rapid technological development. The platform project includes the creation of a 'Regulatory Future-Readiness Index" to support regulators' readiness for the "Smart Age." Based on stakeholder input, the index will assess legislative frameworks using criteria such as justice, effectiveness, and agility. It will provide stakeholders with a self-assessment tool that enables legislators to evaluate existing legislation and identify necessary reforms. It will also support the adoption of more relevant standards for the future. The multi-stakeholder collaboration and knowledge sharing platform will connect legislators, legislative stakeholders, and forward-thinking experts to accelerate finding solutions to common challenges, access the latest and best global practices in the sector, collaborate on pilot projects, and establish simplified and consistent regulations that facilitate the work of companies and entrepreneurs and support investment in various countries around the world. Enhancing the expertise of regulatory bodies in various countries and advancing their capabilities, to effectively design and manage regulatory sandboxes or other innovations, is one of the platform's core areas of focus. Therefore, the platform will launch the "Global Regulatory Intelligence Hub," which will showcase insights and best practices and bolster governments' regulatory capabilities by organizing discussion sessions and workshops that showcase expertise and solutions, encouraging governments to accelerate legislative innovation. To leverage the World Economic Forum's expertise in organizing meetings and conferences, the Platform will launch the "Regulatory Innovation Dialogues" initiative, bringing together regulators, legislative bodies, sector leaders, legal experts, civil society, and members of academia to address legislative challenges in the 'Smart Age'. These dialogues will contribute to the formulation of a guide to action and a future-readiness index.
Observer
05-07-2025
- Business
- Observer
Global tourism will reach 30 billion trips by 2034
The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth reveals a projected $16 trillion contribution to global GDP by the same year, representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labor shortages, and infrastructure gaps are addressed. Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030. Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity, and greater global visibility. Sports and technology Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases. To support this boom, the industry will need to expand significantly, requiring an estimated 7 million new hotel rooms, 15 million additional flights annually, and investment in infrastructure capable of supporting 30 billion trips globally. Risks and opportunities However, the report also flags significant risks. Travel and tourism currently account for 8% of global greenhouse gas emissions, a figure that, without intervention, could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion, and regeneration. Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding, and environmental regeneration is immense—but realizing this opportunity will require more than incremental change. 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.'
The National
05-07-2025
- Business
- The National
Grip on disruption: UAE and World Economic Forum launch global AI regulatory platform
In a bid to future-proof regulation amid rapid technological disruption, the World Economic Forum has teamed up with the UAE to launch an initiative that aims to overhaul how governments around the world respond to emerging technologies such as AI. Unveiled in Geneva on Friday, the Global Regulatory Innovation Platform (Grip) promises to reimagine regulatory systems for the "Intelligent Age" – one increasingly defined by advances in artificial intelligence, biotechnology, and digital finance. The aim of Grip is to close the gap on policy and industry advancement by bringing together government, industry leaders and tech experts to co-design tools and frameworks that are as agile and adaptive as the technologies they seek to govern. "Innovation moves fast – regulation must too,' said Børge Brende, president of the World Economic Forum. 'Grip enables governments to co-create policy frameworks that are agile, anticipatory and ready for the technologies shaping our future.' Among GRIP's deliverables over the next two years are a global regulatory playbook, offering practical frameworks and case studies for innovation governance; a future readiness index to assess countries' preparedness for emerging technologies; and a regulatory innovation hub, where pilot solutions can be tested and scaled in partnership with industry. 'Sustainable economies thrive only within forward-looking and agile regulatory ecosystems. The quality of life of our communities in the future exponentially depends on the work conducted by regulators,' said Maryam Al Hammadi, Minister of State and Secretary General of the UAE Cabinet. 'Grip will strive to empower legislators globally, providing them with cutting-edge regulatory tools and data to keep pace with a world of relentless technological breakthroughs.' Boston Consulting Group will contribute as knowledge partner, alongside a network of leading legal, policy and tech experts. UAE leading the charge on AI Speaking at the World Economic Forum in Davos earlier this year, Ms Al Hammadi told delegates at the World Economic Forum that the UAE had emerged as one of the most digitally advanced in the world, having accelerated well ahead of schedule in rolling out online services. The country's ambitious strategy has already delivered billions of dollars in savings, improved efficiency, and positioned the UAE as a global magnet for top talent in advanced technology and artificial intelligence. From January, the UAE's National Artificial Intelligence System will be an advisory member of the UAE Cabinet, the Ministerial Development Council and the boards of government firms and federal bodies – a move announced by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai. It marks the latest step in a long-term national push to embed AI across governance and society. In 2017, the UAE became the first country in the world to have a Minister of State for Artificial Intelligence. Since then, it has launched a national AI strategy and a dedicated AI university.
Business Wire
03-07-2025
- Business
- Business Wire
Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 2034
LONDON--(BUSINESS WIRE)-- The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed. Inbound and outbound trips increasing fast Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030. Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility. Sports and technology Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases. To support this boom, the industry will need to expand significantly—requiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally. Risks and opportunities However, the report also flags significant risks. Travel and tourism currently accounts for 8% of global greenhouse gas emissions, a figure that without intervention could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration. Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense—but realizing this opportunity will require more than incremental change. 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.' His Excellency Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said: "This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient. 'In Saudi Arabia, we're investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.' Bob Willen, Managing Partner and Chairman at Kearney, added: 'Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit. 'The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It's about creating a travel and tourism sector that's not just bigger, but works in everyone's interests.' Notes to editors Travel and Tourism at a Turning Point: Principles for Transformative Growth is published by the World Economic Forum in collaboration with Kearney and the Kingdom of Saudi Arabia. The report draws on global data, expert interviews and scenario modelling to set out a roadmap for a sustainable and inclusive tourism future. About Kearney Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver—value, results, impact. About the World Economic Forum The World Economic Forum, committed to improving the state of the world, is the international organization for public-private cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas. ( About the Ministry of Tourism of Saudi Arabia The Ministry of Tourism of Saudi Arabia, established in the year 2000, is at the forefront of transforming the Kingdom into the most attractive global destination for tourists and investors. Dedicated to realizing Saudi Arabia's ambitious Vision 2030, the Ministry focuses on long-term growth through innovative policies, strategic investments, and the development of national human capital. With a mission centered on enabling accelerated and sustainable growth, it employs data-driven strategies and integrated delivery mechanisms, all while staying true to the country's rich Arabian authenticity. The Ministry is deeply committed to sustainability, aiming to lead by example in minimizing environmental impact and promoting eco-friendly tourism practices that ensure the preservation of natural resources for future generations. By aspiring to captivate hearts and minds of global audience, the Ministry opens Saudi Arabia's doors to the world, creating a tourism sector where transformative stories are experienced daily. Having welcomed 100 million visitors in 2023, Saudi Arabia is on a steadfast journey toward its goal of 150 million visitors by 2030. As the guiding force behind Saudi Arabia's tourism sector transformation, the Ministry champions cutting-edge regulations, fosters successful collaborations and cultivates talent. This commitment positions the Kingdom to welcome the world, fueling the realization of Vision 2030 and showcasing a sustainable and vibrant future.
