PKF hospitality group: Saudi Arabia currently represents the single biggest opportunity for hospitality and tourism

PKF hospitality group: Saudi Arabia currently represents the single biggest opportunity for hospitality and tourism

Riyadh – The PKF hospitality group recently held one of its 196+ spotlight events in Riyadh in recognition of the significant amount of projects that have been announced for Saudi Arabia, the largest sovereign state by landmass in the Middle East with a total of 2,150,000 km2 and 35 million inhabitants.

The majority of these projects, many of which touted to be worth well in excess of $100 billion each, form part of the very ambitious Saudi Vision 2030. This strategic road map is set to harness the strength and strategic position of the Kingdom whilst reducing its reliance on oil. The focus areas, on which $800b + will be spent, are tourism, health infrastructure and education. Of course the improvement of the country’s image is another desired outcome of this massive effort.

The initial push is to create product that attracts the local traveller, who currently doesn’t find enough reason to travel within his/her own country. The millions of pilgrims who come to Saudi Arabia to visit the holy sites are the next obvious market to be targeted before the discerning international traveller in other markets is lured to come and visit the Kingdom.

Names like NEOM, RED SEA PROJECT, QIDDIYA, DIRIYAH