KSA aims to attract 100 million visitors a year
As Saudi Arabia continues to diversify its economy away from oil, the kingdom’s tourism sector is estimated to contribute an expected GDP of US$1.86 trillion by 2030.
Saudi’a plans to generate income streams from non-oil sectors have led to substantial investments in its tourism offering that have grabbed headlines globally. If achieved, the ambitious target to attract 100 million visitors a year will see the sector contribute up to 15% of the GDP.
Speaking at an investment forum with Greek ministers in Riyadh, Saudi investment minister Khalid Al-Falih said that Saudi Arabia’s National Investment Strategy will launch direct investment opportunities by 2030 worth US$3.27 trillion.
Naming religious tourism, domestic tourism and international tourism as areas of focus, Al-Falih added: “By 2030 the aim is to have 500,000 hotel keys, most of which will be new, with 100 million visits per year.”
For more information, visit www.vision2030.gov.sa