With significant participation from young business professionals, the Riyadh Chamber of Commerce and Industry, represented by the Young Businessmen Committee, recently hosted Farouk bin Saud Al-Juraisi, founder and CEO of “Al-Musafir” Travel and Tourism, for a lecture on entrepreneurship, during which he shared his expertise and experiences with the young attendees. The event was attended by Ali bin Saleh Al-Othaim, a member of the Riyadh Chamber’s Board of Directors and Chairman of the Committee, and the discussion was moderated by Committee member Adnan bin Abdullah Al-Khalaf.
Half a Million Hotel Nights in 2015
Al-Juraisi began by discussing his personal experience at his company, which started with four employees when it was founded in December 2012 and now has 240 experienced and competent employees, and that it is the largest company in the Kingdom in the field of providing online travel and tourism services through hotel and flight bookings via its website, a mobile app, and a 24-hour customer service center, He noted that Al-Musafir successfully booked half a million hotel nights worldwide in 2015, recording growth of over 400% compared to the 120,000 nights booked the previous year, and emphasized that the company operates 100% online%.moving away from traditional methods.
He explained his company’s reliance on smart services by pointing to the rise of today’s younger generations, who rely entirely on smart devices, websites, and social media in their daily lives, and the widespread use of digital services in all aspects of daily life. He attributed his company’s success to patience, diligence, and a refusal to rush for profit, as well as a commitment to customer trust and satisfaction, complete flexibility, and convenient payment options, and we offer prices that are 10–15% lower than those of our competitors in the market'.
Success Requirements: A Goal for Each Stage
In his discussion with young business professionals, Al-Juraisi emphasized the importance of earning the client’s trust—which can only be achieved through good customer service, honesty, hard work, continuous improvement, and the ongoing pursuit of new services—rejecting the idea that advertising alone can achieve this.
Regarding the challenges facing any entrepreneurial project, he said that among the most prominent are securing financial liquidity, high operating costs, and hiring qualified personnel, and, most importantly, gaining customer trust, accepting their feedback, and striving to address it. He emphasized the importance of product quality, quick decision-making, and flexibility in dealing with customers. He noted that the keys to success in life and business require young people to set goals for themselves at every stage, and advised them to raise the bar for their ambitions, work hard, be determined to succeed, seize opportunities, and make quick decisions.
270 billion riyals in tourism revenue
In his lecture, Al-Juraisi cited some statistics on the volume of travel and tourism activity in the Middle East, noting that it exceeds 269 billion and 450 million riyals annually, with aviation accounting for 68% of that total and hotels for 27%, He said that Dubai accounts for 30% of his company’s client base, followed by Qatar and Turkey. Regarding the volume of online hotel bookings worldwide, he said it exceeded 2 billion and 416 million dollars in 2014, and are expected to nearly double to more than $4.12 billion in 2017.
In addition, Ali Al-Othaim, Chairman of the Young Businessmen Committee, praised the experience of Farouk bin Saud Al-Juraisi, which embodies the dedication of Saudi youth and their determination to succeed. He emphasized that this is precisely what the committee strives for, working to foster a culture of entrepreneurship, build a generation of entrepreneurs to enter the business world, hone their talents and expertise, enable them to make their own projects successful, and strengthen their role in enriching the Kingdom’s economy.
