“Tourism sector”.. Investment opportunities worth $500 billion in Saudi Arabia

The Kingdom of Saudi Arabia seeks to attract investments to the tourism sector by launching many projects.

Among the most prominent steps taken by the Kingdom is that it has brought about radical changes in the visa system, and the result is investment opportunities in the sector that the US "Standard and Poor's" index estimates at about half a trillion dollars.

The first tourism projects

With the start of the New Year, giant projects in Saudi Arabia, such as “Qiddiya” and the “Red Sea”, will start offering their first tourism products, in a step of interest to tourists and investors.

During the World Summit of the World Travel and Tourism Council, which was held in Riyadh last November, the new image of Saudi Arabia became clear in the minds of investors in the tourism sector.

The World Travel and Tourism Council said: "The transformation taking place in Saudi Arabia is the result of investments amounting to $800 billion, which is the largest investment in the history of the travel and tourism sector."

Government investments organized by the National Tourism Strategy, which was launched in 2019, are a major encouragement for private sector capital inflows.

And the "Standard and Poor's" index considered the tourism sector as one of the sectors that benefit most from the Kingdom's Vision 2030, and estimated the investment opportunities generated by the tourism sector, between projects, infrastructure and others, at more than $ 500 billion.

And with the multiplicity of investment opportunities, which necessitated providing a single platform for private sector investors, which is the role played by the Tourism Development Fund since its launch in June of 2020, which works to attract capital to the sector that will add 10% to the Saudi economy by 2030.