Saudi Arabia launches programme to attract investment to tourism sector

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Saudi Tourism Minister Ahmed Al-Khatib revealed on Monday the investment enablers program in the tourism sector, which aims to facilitate doing business and raise the attractiveness of investment, for both local and international investors.

The Ministry of Tourism has also announced, under the umbrella of its program, the initiative to invest in the hospitality sector, in cooperation with the Ministry of Investment, which aims to increase and diversify tourism offerings and raise the absorptive capacity of tourism hospitality facilities in targeted tourist destinations in the Kingdom.

The initiative seeks to attract investment in the hospitality sector, amounting to about 42 billion riyals ($11 billion), with revenues estimated at 16 billion riyals ($4 billion) on the Kingdom’s GDP by 2030.

On this occasion, the Minister of Tourism said that Saudi Arabia is characterized by a rich and diverse tourism wealth thanks to the multiplicity of tourist destinations and rich cultural experiences, so the tourism industry in the Kingdom is one of the most attractive investments in the world.

 

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