Saudi Arabia to add 250,000 hotel rooms, revises tourist targets
27/02/24
Saudi Arabia plans to add 250,000 hotel rooms by 2030 according to the Kingdom’s Ministry of Tourism, with 75,000 to be contracted to the private sector. Meanwhile, approximately 12 resorts on the Red Sea are set to open by 2025, which will boost the country`s total number of rooms to 550,000 by the end of the decade.
In October last year, The Ministry of Tourism revealed that the Kingdom was investing more than SAR 3 trillion (USD 800 billion) in the tourism sector through giga projects such as the Red Sea tourism development, the Diriyah and Qiddiya master plans and other private projects across the country.
In further encouraging news, the Kingdom recently revised its tourism target to 150 million by 2030, up from 100 million, which it had already achieved in 2023. Ministry of Tourism figures revealed there were 77 million domestic tourists and and 27 million international visitors. The high number of international tourists is a direct result of the recently inaugurated general tourism visa. The Kingdom has long welcomed pilgrims to Islam's holiest sites in Mecca and Medina as well as business travelers. However it has only recently relaxed rules to host sporting events, music concerts and opened arts and entertainment complexes including cinemas and water parks, which have in turn attracted increased number of tourists.
As a result of the Kingdoms new strategies, the IMF has reported witnessing obvious change in Saudi Arabia and has applauded its dynamic economy. It also notes that tourism is an important element of Saudi`s Vision 2030 reform agenda, which aims to help Saudi Arabia transition away from fossil fuels and no longer rely primarily on the oil and gas sectors.
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