KSA aims to be among top 10 global tourist destinations
Tourism Development Fund has financed over 50 projects, says minister
Saudi Arabia aspires to rank among the top 10 most successful countries in tourism this year, says the sector’s minister.
Speaking during the Manafea Forum in Madinah, Ahmed Al-Khateeb outlined that the Kingdom is equipped with the capabilities and requirements to achieve this milestone, according to a statement by the ministry. He demonstrated this fact by noting that by the end of 2023, the sector contributed to approximately 5 percent of the gross domestic product, with the aim of raising the figure to 10 percent by 2030.
Al-Khateeb further outlined that the Kingdom currently holds 940,000 jobs in the tourism and hospitality fields and aspires to provide 1 million positions by 2030.
The minister’s comments reflect Saudi Arabia’s National Tourism Strategy, which hopes to attract over 150 million visitors by 2030. The Kingdom considers developing the tourism and entertainment sectors a crucial part of its Vision 2030 initiative, as it diversifies its economy away from oil revenues.
During his remarks, Al-Khateeb highlighted the Tourism Investment Enablers program, which seeks to achieve these objectives through empowering the private sector and streamlining
He highlighted that 100,000 Saudi nationals are trained annually to qualify them for positions in the field, and further underscored that the budget for training programs at home and abroad exceeds SR375 million ($99.9 million) per year. Furthermore, Al-Khateeb outlined that the ministry is “keen” to enrich the visitor experience by adequately preparing all historical sites and archeological monuments. To fulfill this goal, the Tourism Development Fund has financed more than 50 projects, the minister said.
With $4 billion in capital, TDF, established in June 2020, aims to facilitate local and international investors’ access to high-potential tourism investments across key destinations in Saudi Arabia.
The expansion of the tourism industry has been bolstered by regulatory adjustments, including the new “Visiting Investor” visa. Now, international investors no longer have to visit a Saudi embassy to get a permit to travel to the Kingdom after the process for applying was moved online in the second phase of the e-visa service scheme, expanding its coverage from nearly 60 nations to include all countries worldwide.
With a goal to make tourism its second-largest revenue source by 2030 as part of Saudi Arabia’s economic diversification initiative, the Kingdom is taking bold steps to showcase its history, landscapes, and cultural diversity.
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