Saudi Gazette report

RIYADH — Saudi Arabia’s Tourism Minister Ahmed Al-Khateeb indicated that the tourism sector’s contribution to the nation’s Gross Home Product (GDP) to achieve roughly 6% by the yr’s finish.

Talking throughout a session on the sidelines of the Future Funding Initiative (FII), the minister highlighted that Imaginative and prescient 2030 has set a purpose to extend the sector’s contribution from 3% to round 10%, necessitating the attraction of 100 million native and Worldwide Guests.

Al-Khateeb expressed confidence that, by the top of the present yr, the variety of guests will strategy 100 million, and the tourism sector’s contribution to the GDP can be shut to six%.

In response to this, Saudi Crown Prince and Prime Minister Mohammed Bin Salman has directed the sector’s targets to be raised to 150 million annual visits by 2030.

Within the earlier yr, tourism within the Kingdom recorded 93 million visits, with 77 million from home sources and 16 million from worldwide guests.

The formidable goal is to surpass 100 million mixed native and worldwide guests for leisure tourism and 42 million for non secular functions by the top of the last decade, aligning with the bid to host Expo 2030.

Al-Khateeb outlined that Saudi Arabia goals for 75 million international and 75 million home visits, highlighting the nation’s achievement of 75 million home visits and anticipating 30 million international visits this yr, representing round 50% of the Imaginative and prescient 2030 goal.

The minister emphasised that the expansion of the center class, particularly in China and India, will encourage extra tourism.

He reiterated the large scale of Saudi investments within the sector, projecting the Kingdom to change into the world’s largest investor in tourism over the following decade.

Saudi Arabia has invested roughly $800 billion within the sector, with the Tourism Growth Fund financing tasks valued at $35 billion.

Al-Khateeb affirmed that further investments are on the horizon, stating that as quickly because the native and worldwide personal sector realizes the federal government’s dedication to opening the sector and maximizing its worth, they are going to come to spend money on the nation.