Saudi Arabia has attracted about $13 billion in private sector investment in the tourism industry as it aims to share the cost of spending associated with its plan to become a new travel magnet.
According to Princess Haifa bint Mohammed Al Saud, deputy minister of tourism, the investments are expected to add another 150,000 to 200,000 hotel rooms over the next two years.
The kingdom also aims to increase tourism revenues to $85 billion this year from about $66 billion in 2023, she added.