Saudi Arabia has set its sights on being among the top 10 most successful countries in tourism this year, according to the Saudi Minister of Tourism The minister Ahmed Al-Khateeb.
The minister made this statement during the Manafea Forum in Madinah, emphasizing that the Kingdom possesses the necessary capabilities and prerequisites to achieve this significant milestone, as stated by the ministry.
Read more: Saudi Arabia launches $11.2 billion tourism initiative, aims for 120,000 jobs
Al-Khateeb substantiated his claim by highlighting that the tourism sector contributed approximately 5 percent to the country’s gross domestic product by the end of 2023. The objective is to raise this figure to 10 percent by 2030. Additionally, he mentioned that the tourism and hospitality sectors currently provide 940,000 jobs in Saudi Arabia and aim to create 1 million positions by 2030.
These remarks from the minister align with Saudi Arabia’s National Tourism Strategy, which aims to attract more than 150 million visitors by 2030. The Kingdom considers the development of the tourism and entertainment sectors as vital components of its Vision 2030 initiative, which aims to diversify the economy beyond oil revenues.
Empowering the private sector, streamlining the investment process
During his speech, Al-Khateeb emphasized the Tourism Investment Enablers program, which aims to empower the private sector and streamline the investment process in order to achieve these objectives. He stated that the Ministry of Tourism has worked to create legislation that promotes ease, flexibility, and clarity in the tourism sector. The ministry has also introduced new licenses for guest facilities and hospitality.
The minister highlighted that 100,000 Saudi nationals receive training annually to qualify them for positions in the tourism industry. He further explained that the annual budget for training programs, both domestically and internationally, exceeds SAR375 million ($99.9 million).
Enhancing visitor experience
Furthermore, Al-Khateeb stressed the ministry’s commitment to enhancing the visitor experience by adequately preparing historical sites and archaeological monuments. To achieve this goal, the Tourism Development Fund has financed more than 50 projects, with a capital of $4 billion. Established in June 2020, the Tourism Development Fund aims to facilitate access to promising tourism investments for both local and international investors across key destinations in Saudi Arabia.
For more news on hospitality & tourism, click here.
