Saudi tourism: A viable long-term investment strategy – ZAWYA

SourceZawya
SectorTourism
CountrySaudi Arabia

As most of us know by now, tourism is one of the main pillars of the Saudi Vision 2030 economic reform plan aimed at weaning the country off its dependence on oil revenue.Last year, the Kingdom opened up to international tourists, launching a new visa system while appealing to foreign companies to invest in the sector, a move which was predicted to contribute more than 10 percent to the gross domestic product by 2030.Prior to that, a number of new cultural destinations, such as AlUla and Diriyah, were launched by the Public Investment Fund (PIF) and future entertainment destinations include the Six Flags amusement park in Qiddiya, an area just outside Riyadh, ultra-luxury Red Sea waterfront resorts, and the iconic NEOM city which will attract tourists and artificial intelligence entrepreneurs.Despite...read more...

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