According to Tourism Minister Ahmed bin Aqeel Al Khateeb, Saudi Arabia is dedicating $800B to the tourism sector, with the aim of attracting 100 million tourists, both local and international, by 2030.
He stressed that the Kingdom, having already welcomed over 30 million tourists, representing 40% of the targeted number, is the fastest-growing among the G20 nations in terms of tourism. This sector is of paramount importance for economic growth.
Saudi tourism growth
During a session titled “What Is the Vision for High-Growth Industry?” at the Future Investment Initiative (FII), Al Khateeb disclosed that efforts are underway to increase the travel and tourism sector’s contribution to the GDP from 3% in 2019 to 10% by 2030, while also striving to achieve the 100 million tourist goal.
He highlighted Saudi Arabia’s substantial investments in the tourism sector, including projects like the Red Sea, Diriyah, and Qiddiya, as well as private initiatives across the Kingdom that are propelling the tourism industry forward, according to Arabian Business.
Furthermore, he mentioned that Saudi Arabia is actively working on legislation and laws to make it one of the most efficient sectors and a facilitator for businesses, thus becoming one of the pioneers in this regard.
