Tourism Minister Ahmed Al-Khateeb said at an Arab-China investment summit that Saudi Arabia is investing $800 billion in the tourism sector over the next ten years, according to reports.
Speaking at the 10th edition of the Arab-China Businessmen Conference on Sunday, Al-Khateeb said that travel and tourism counts for 4.5% of Saudi Arabia’s GDP, marking an increase from 3% in 2019 – a growth rate of 50% since before the pandemic.
He added that they’re working to achieve Vision 2030’s goal to to reach 10% of Saudi GDP by 2030, which the Kingdom estimates will require reaching the goal of attracting 100 million annual visitors by 2030.
Al-Khateeb encouraged more Chinese travelers to visit the region and Saudi Arabia. He also invited Chinese investors to seize investment opportunities in the Kingdom.
Recently, the Saudi Tourism Authority officially launched its seasonal campaign, Rethink Summer, aimed at promoting the country as a diverse, unique summer destination.
Most of Saudi Arabia’s tourist hotspots of the future are under-development now. Neom, the Red Sea Development, and new areas and districts in the Kingdom’s existing cities, like Qiddiyah outside of Riyadh, will serve as attractive destinations when completed.
Other sites, like Al-Ula, are ready for visitors and expanding with new accommodations and offerings.
