Tourism: Saudi Arabia received 120 million visitors, and spending exceeded 300 billion riyals
Global destination
Speaking to Al Arabiya Business on the sidelines of the FII PRIORITY conference, part of the Future Investment Initiative held in Miami, he said: “The Kingdom is witnessing increasing interest from international investors in the tourism sector, supported by economic reforms and growing investment opportunities, which strengthens its position as an emerging global tourist destination.”.
He added: “The awareness of foreign investors regarding tourism opportunities in Saudi Arabia has witnessed remarkable growth in recent years, in conjunction with the transformations taking place in the sector within the Kingdom’s vision.”.
He pointed to the entry of more than 50 international brands into the Saudi tourism market, in addition to attracting about 40 new investors during the past five years, in a clear indication of the growing confidence of investors in the investment environment in the Kingdom.
He added that government agencies play a pivotal role in supporting this growth, by facilitating the investor's journey, clarifying available opportunities, and working to develop the investment environment and enhance its attractiveness.
