Saudi Tourism Authority signs MoU with UnionPay

Saudi Tourism Authority signs MoU with UnionPay

Saudi Arabia - Saudi Tourism Authority (STA) has taken a significant step forward by signing a memorandum of understanding (MoU) with leading global payment services provider UnionPay International.

The agreement will support the development and strengthening of Saudi Arabia’s positioning as a tourism destination for UnionPay cardholders from China and around the world as Saudi drives forward its ambition to welcome even more Chinese visitors to the authentic home of Arabia.

The MoU aims to enhance Saudi Arabia’s comparative advantage in attracting Chinese travellers to the country with STA and UnionPay International promoting Saudi as a UnionPay-friendly destination for the global Chinese community.

UnionPay already has extensive partnerships with banks in Saudi Arabia, including Al Rajhi, SNB, Al Inma, Riyad, and are actively expanding with the acceptance rate of UnionPay cards in Saudi expected to increase to more than 70% by the end of 2022.

Fahd Hamidaddin, CEO and Member of the Board at Saudi Tourism Authority, said: "Today’s announcement is another significant step in our journey to position Saudi as a leading global tourism destination for the Chinese traveller. As Saudi accelerates its China-readiness program across the different visitor touchpoints, this exceptional partnership will ensure Saudi is top-of mind for Chinese travellers and