Saudi Arabia unveils Tourism Investment Enablers Program

Saudi Arabia unveils Tourism Investment Enablers Program

Saudi Gazette Report RIYADH — Minister of Tourism Ahmed Al-Khateeb has unveiled on Monday the Tourism Investment Enablers Program, which is designed to facilitate business practices and enhance investment attractiveness for both local and international investors as part of the ministry’s bid to make the Kingdom a global tourism hub. As part of its ambitious program, the Ministry of Tourism, in collaboration with the Ministry of Investment, announced the Hospitality Sector Investment Enablers Initiative. The initiative is anticipated to yield numerous social and economic benefits, including an increase in the number of hotel rooms by approximately 42,000, creating around 120,000 job opportunities in targeted destinations by 2030. This will positively impact talent development and support nationalization efforts in the local job market.The initiative aims to attract investments in the hospitality sector, with a value of approximately SR42 billion, projecting estimated revenues of about SR16 billion to the Kingdom’s GDP by 2030. It also aims to increase and diversify tourism offerings, bolstering the capacity of hospitality facilities in targeted tourist destinations across the Kingdom.Al-Khateeb said that Saudi Arabia boasts rich and diverse tourism wealth, making its tourism industry globally attractive. “The Saudi Vision 2030 outlines our roadmap to becoming a sought-after