NEWS
5 June 2026, SPIEF, St.Petersburg
Mutual tourism as a powerful driver of economic growth
On June 3, 2026 – the first day of the St. Petersburg International Economic Forum – a meeting of the Russian-Saudi Business Council was held at the Cosmos Selection Saint-Petersburg Italyanskaya Hotel.
"Tourism is the key to developing cooperation in other sectors as well, and the lifting of visa restrictions makes this path easier and shorter. The more business and other trips there are, the more people discover our countries and learn about each other’s cultures, the faster we will establish the mutual trust without which neither business development nor humanitarian projects are possible. At the Cosmos hotel chain, we see growing interest in Russia among Saudi Arabian guests — their numbers have tripled over the past year. And although their share in the overall mix of foreign guests at our hotels is not yet as large as we would like, we expect it to continue growing at double-digit rates"
Vladimir Evtushenkov
Co-Chairman of the Russian-Saudi Business Council
Founder of Sistema PJSFC and
Founder of Sistema PJSFC and
The event focused on strengthening tourism cooperation between Russia and Saudi Arabia in areas such as business, recreational, cultural, religious, and medical tourism, thanks to a visa-free agreement that took effect in May 2026. Among the participants were representatives of the state and private tourism sectors of both countries: the heads of the Tourism Committees of Moscow and St. Petersburg, along with representatives of business communities from Russia and Saudi Arabia.
Meeting participants discussed the key tasks that representatives of the tourism industry in both countries will need to work on in the near future:
- Expanding flight routes.
- Increasing the effectiveness of marketing and information/educational programmes that showcase opportunities in business, recreational, cultural, religious, and medical tourism.
- Developing a payment infrastructure convenient for travel.
- Strengthening cultural and humanitarian ties between our countries to deepen mutual understanding and overcome cultural differences through cultural exchange programmes.
- Improving services and the quality of Russia’s hotel infrastructure.
The Middle East vector
5 June 2026, SPIEF, St.Petersburg
5 June 2026, SPIEF, St.Petersburg
The Russia-Saudi Business Council was established in 2005 as a permanent platform for contacts between the two countries. Its co-chairman since foundation has been Vladimir Yevtushenkov (founder of AFK Sistema, one of Russia’s largest diversified holding companies). Over the years dozens of business trips, negotiations, meetings, and joint initiatives aimed at developing Moscow-Riyadh relations have taken place with the Council’s involvement.
Gradually this platform moved beyond simple networking. It became a stable channel of economic diplomacy — in effect one of the first systematic platforms through which Russia began building a long-term presence in the Saudi market, well before the region became one of the key centres of global transformation.
Today the Council’s role extends far beyond that of a classic business association. It functions not only as a business grouping but as a mechanism for continuous professional cooperation between companies, the expert community, and government structures on both sides. The Council also participates in preparing proposals for the intergovernmental commission on trade, economic, and scientific-technical contacts, co-chaired by Alexander Novak (Russia's Deputy Prime Minister responsible for energy) and Prince Abdulaziz bin Salman (Saudi Arabia’s Minister of Energy).
Gradually this platform moved beyond simple networking. It became a stable channel of economic diplomacy — in effect one of the first systematic platforms through which Russia began building a long-term presence in the Saudi market, well before the region became one of the key centres of global transformation.
Today the Council’s role extends far beyond that of a classic business association. It functions not only as a business grouping but as a mechanism for continuous professional cooperation between companies, the expert community, and government structures on both sides. The Council also participates in preparing proposals for the intergovernmental commission on trade, economic, and scientific-technical contacts, co-chaired by Alexander Novak (Russia's Deputy Prime Minister responsible for energy) and Prince Abdulaziz bin Salman (Saudi Arabia’s Minister of Energy).
