BCG report ranks UAE's Etisalat as fourth top value creator in global telecoms. | Kanebridge News
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BCG report ranks UAE’s Etisalat as fourth top value creator in global telecoms.

Etisalat, a leading telecom operator in the United Arab Emirates (UAE), has been ranked as the fourth highest value creator globally in the telecommunications sector by the Boston Consulting Group’s (BCG) 2024 Telco Value Creators Report.

Wed, May 15, 2024 8:20pmGrey Clock 3 min

From 2019 to 2023, Etisalat managed to create $18 billion in value, marking a substantial achievement on the international stage.

The BCG report, titled “A New Formula for Success: The 2024 Telco Value Creators Report,” showcases how telecom companies have navigated obstacles like stagnant revenue and varying returns on significant investments such as 5G technology. Despite these industry-wide challenges, Etisalat UAE has thrived by implementing a robust strategy to drive growth.

“The telecommunications industry has witnessed considerable shifts, with digitalization, innovative offerings, and strategic market positioning becoming more critical than ever,” said Nuno Gomes, Managing Director and Partner at BCG. “Our findings reveal that top-performing companies, like Etisalat, have excelled by safeguarding their core business and expanding -sometimes through partnerships – into new markets and technologies. This dual focus has driven their significant value growth over the past five years.”

Nuno Gomes, Managing Director and Partner at BCG

The report is a blueprint for generating value in the telecommunications field, aligning with the UAEs strategic intention to adopt an economy that’s knowledge-driven, and set foundational digital transformation objectives.

In this environment, the dynamic telecom operators similar to Etisalat are already well-prepared for the sustained growth and the enhanced competitiveness in the market during the evolving digital landscape.

Key Strategies for Telco Success in the UAE:

BCG’s extensive five-year analysis of 59 global telecom companies reveals the critical strategies for achieving a notable value creation and maintaining competitive edge into 2024 and beyond, including:

Uphold the Core: Strengthening foundational services with AI to enhance customer loyalty and satisfaction. Catalyze Growth Beyond the Core: Capitalizing on the burgeoning digital economy with novel services that resonate with the UAE’s progressive market demands. Optimize Asset Usage: Refining existing infrastructure to boost cost efficiency and service delivery. Streamline Costs: Employing automation and AI to enhance operational efficacy and curtail costs. Transition to Core-to-Cloud: Adopting cloud-based systems to foster flexibility and expandability. Implement Cutting-edge Network Design: Progressing network capabilities to facilitate the swift introduction of innovative services.

By incorporating these strategies, UAE telecom operators can create significant value, aligning with the UAE’s ambition to become a technology hub.

David Panhans Managing Director and Senior Partner at BCG

Transforming the Telecom Landscape in the UAE

Global telecom leaders are exploring the potential of the Generative Artificial Intelligence (GenAI), making progresses in automation, personalization, and process innovation.

In the GCC region in particular, GenAI could be a game-changer. Telecom companies are focusing on enhancing customer service through AI-driven chatbots, developing effective sales strategies with personalized marketing, and increasing operational efficiency through automation.

GCC telecom operators are encouraged to integrate GenAI into their strategies, adhering to the “10-20-70” principle: 10% effort in developing algorithms, 20% in setting up technological frameworks and crafting quality data streams, and 70% in driving operational change, focusing on staff, processes, and change management. The benefits of GenAI for UAE telecoms include cost reduction, product innovation, and improved customer experiences, setting a standard for other industries.

“The telecommunications sector is at the forefront of digitalization. To perform and outperform, telcos need to be agile in introducing novel offerings, and robust market-entry strategies are essential,” added David Panhans Managing Director and Senior Partner at BCG. “The tailored approaches to both the B2B and B2C segments are by comprehensive strategic planning. This adaptability is paramount in the contemporary digital arena, marked by swift and precise changes. Telcos like Etisalat in the UAE are flourishing and adeptly attuned to market requisites. ”

As the telecommunications industry continues to evolve and face unique challenges, companies like Etisalat can distinguish themselves through strategic vision and adaptability.



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Saudi Arabia’s 2024 Summer TOURISM Plans Unveils New Incentives and Global Attractions

“Saudi Summer is Next Door” plans to boost tourism in the Kingdom over four months across seven destinations.

Wed, May 22, 2024 4 min

Saudi Arabia has unveiled its plan to attract international tourists this summer. The strategy includes appealing visa options, complimentary airline tickets for families, a lineup of major events, and opportunities for tax-free shopping.

The initiative, organized under the guidance of Ahmed Al Khateeb, Minister of Tourism and Chairman of the Saudi Tourism Authority (STA), is named “Saudi Summer is Next Door.”

Jeddah

Extensive Summer 2024 Tourism Activities

The initiative will span four months, ending in September, and will be hosted across seven key destinations: Aseer, Al Baha, Taif, the Red Sea, Jeddah, Riyadh, and AlUla.

It features over 550 tourism products and more than 150 specially tailored offers and packages for families and various interest groups including adventure enthusiasts, luxury seekers, and cultural and heritage buffs.

The launch event of the Saudi Summer Program 2024 was attended by notable figures such as Zurab Pololikashvili, Secretary-General of the World Tourism Organization, in addition to more than 250 key partners from both public and private sectors, prominent media personalities, and influential opinion leaders.

Showcasing Global Events and Cultural Richness

This year’s program will also welcome back the Jeddah Season and introduce the Aseer Season, each filled with various activities and events for families. The Kingdom will host several significant events as part of the summer program, including the first Esports World Cup in Riyadh, an eight-week competition featuring top esports athletes, and various boxing tournaments in Riyadh and Jeddah.

During the event, Al Khateeb highlighted the latest global tourism trends, the Kingdom’s growth in the tourism sector, and the record-high tourist numbers that have propelled Saudi Arabia to the top of the UN World Tourism list and the G20 nations list.

Al Baha

Al Khateeb emphasized, “Saudi Arabia is witnessing a transformative period in tourism, driven by our vision to position the Kingdom as a premier global destination. The Saudi Summer Program 2024 is our commitment to showcasing the rich cultural heritage, natural beauty, and unparalleled hospitality that Saudi Arabia offers. “We invite local and international tourists to experience the diversity of our seven unique destinations and take advantage of the exceptional offers and packages designed to create unforgettable memories. “This initiative, supported by our strategic partnerships and groundbreaking efforts like the eVisa and increased flight connectivity, demonstrates our dedication to making Saudi Arabia more accessible and appealing to tourists worldwide. “We look forward to welcoming visitors from all corners of the globe to explore and enjoy the vibrant experiences that await them this summer.”

Zurab Pololikashvili, Secretary-General of the World Tourism Organization, also remarked, “Saudi tourism is witnessing unparalleled development at all levels, achieving great leaps in recent years, which I witnessed during my multiple visits to this hospitable country.”

Riyadh

“Saudi Arabia has global indicators related to the number of tourists, which has qualified it to top the UN World Tourism list of significant tourist destinations.”

“All of these great achievements for Saudi tourism would not have been possible without proper planning by those in charge of the sector in the Kingdom and the great potential it possesses in terms of diverse climates, stunning natural landmarks, and the generosity of Saudi people who are distinguished by their hospitality, raising the ceiling of ambitions for new achievements.”

STA CEO Fahd Hamidaddin said: “While temperatures in the region rise to high levels during summer, temperatures in the highlands of Saudi Arabia in the southern region decrease to the extent that we even witnessed snowfall in Al Soudah yesterday.” “Through the promotional campaign for the Saudi Summer Program 2024, we seek to highlight the uniqueness of our destinations and their climatic, natural, and cultural diversity, along with the exceptional events and activities happening during summer. “This year’s summer program includes more than 550 tourism products and 150 special offers designed in collaboration with STA’s partners, which include attractive offers from hotels, airlines offering free tickets for children in partnership with major travel, tourism, and aviation companies, and exceptional products in the Aseer Season and Jeddah Season like tax-free shopping offers and many new and exciting experiences such as private beaches for tourists and ladies’ beaches.”

“The campaign slogan “Saudi Summer is Next Door” embodies an open invitation to explore the magic of Saudi destinations and their diversity. This diversity is expressed with simple words that reflect the uniqueness of each destination, such as “Closer,” “Cooler,” “More Beautiful,” and “More Affordable.”

The private sector is a very important component of the success of tourism programs and initiatives, and the Saudi Tourism Authority is committed to empowering it by fostering demand for products and offers that align with the aspirations of tourists globally.

The launch of the Saudi Summer Program 2024 marks a period when visiting the Kingdom has become easier, smoother, and safer through measures such as the availability of the eVisa to citizens of 66 countries, a 20 percent reduction in eVisa prices, and a significant increase in the number of weekly flights from

Gulf cities to Saudi summer destinations, now totaling 1,100.

Residents of the GCC can also benefit from the GCC residents visa, which allows them multiple entries and a stay of up to 90 days in the Kingdom over a year. Moreover, the number of hotel rooms available to travelers is set to increase, with an additional 25,000 rooms expected to be added this year.

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