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Daily Tribune
24-04-2025
- Business
- Daily Tribune
Gulf family firms urged to rethink power and succession
Heads of family-run firms made their way to Manama yesterday for the Legacy Family Business Forum, held at the Downtown Rotana Hotel. The meeting brought together business heirs, founders, advisers and government figures. With a theme of 'Sustaining a Legacy: The Balance Between Tradition and Innovation', the event sought to answer a question many in the region know too well: how to keep a family enterprise alive without freezing it in the past. Family businesses account for the lion's share of private sector activity in the Arab world. They make up nearly 90 per cent of the market in the Middle East and North Africa, provide jobs to about half the workforce, and bring in a third of the region's total economic output. A recent survey by Forbes Middle East found that three-quarters of the top-performing firms were based in the GCC. Bahrain, long a port for traders and financiers, is no stranger to such stories. Many of the country's oldest firms have weathered decades of change. But as speaker after speaker reminded the audience, legacy is no guarantee. Industry and Commerce Minister, His Excellency Abdulla bin Adel Fakhro, told attendees the matter was close to home. 'This is personal for me,' he said. 'I come from a family business and have lived and breathed it all my life. I've seen the effort it takes to build one, and the strain of passing it on.' He said Bahrain would set up a dedicated centre to help family businesses adapt. He also pointed to new guidance introduced last year on governance, drawn up with the Bahrain Chamber of Commerce and Industry (BCCI).
Trade Arabia
13-04-2025
- Business
- Trade Arabia
Dual China Visitors Summits set in UAE
The China Visitors Summit (CVS) is making a powerful return to the UAE this year, hosting two back-to-back events in Dubai and Abu Dhabi – marking a significant moment for the revival of Chinese travel to the region. Chinese inbound tourism to the UAE has officially rebounded to pre-pandemic 2019 levels, with a growing number of travellers seeking premium experiences across all seven Emirates. From luxury accommodations to adventure, sports, culture, and art, Chinese visitors are showing a strong appetite for the UAE's diverse offerings. The CVS will be held in Dubai on August 25 and 26 at the SO/ Uptown Dubai Hotel, followed by Abu Dhabi on August 28 and 29 at the Rotana Hotel in Al Ain. Together, the two events will welcome over 150 top-tier Chinese travel buyers including luxury and corporate travel planners, wholesalers, OTAs, and bespoke travel agencies. 'The dual summit format gives UAE suppliers a powerful opportunity to hand-pick the Chinese buyers they want to connect with—whether they focus on luxury, group travel, FIT, business, or niche experiences,' said Alexander Glos, CEO of China i2i Group, the summit's organiser. 'This year's events in the UAE will generate over 16,000 face-to-face, pre-scheduled meetings—making it the largest gathering of Chinese travel industry professionals outside China.'
