A leading Saudi government official on Monday said that about 28 million tourists are expected to visit the Kingdom this year.
Speaking at the first Tourism, Entertainment and Cultural Investment Forum in Riyadh, Mahmoud Abdulhadi, the deputy minister of investment attraction at the Ministry of Tourism, said the projections of the remarkable number of visits reflect the growing attractiveness of Saudi Arabia as an international tourism destination.
In comparison, the Kingdom welcomed 16.6 million tourists in 2022 and 3.5 million in 2021, according to recent figures from the World Tourism Barometer.
Abdulhadi highlighted the positive effect the increasing visitor numbers are having on employment opportunities within the rapidly expanding Saudi tourism sector, which now offers 880,000 jobs.
He added that regulations and systems have been implemented or revised within a new tourism framework to help attract investors and enhance competitiveness and quality of service in the sector. He also emphasized the importance of collaboration with the private sector to further improve services and meet the needs of tourists and investors.
Fahd Al-Naeem, the deputy minister of investments development, talked about investment opportunities and potential benefits for small enterprises in the sector. He highlighted advances in tourism laws designed to address and overcome challenges and streamline procedures.
Ajlan Al-Ajlan, chairperson of the Riyadh Chamber of Commerce, told delegates that there has been robust interest in and an overwhelming response to major investment projects in Saudi Arabia from businesses and investors. This is a testament to the attractive investment landscape in the Kingdom and the range of promising opportunities it offers, which are key components of the nation’s Vision 2030 development and diversification agenda, he added.
Naif Al-Rajhi, vice chairman of the Riyadh Chamber of Commerce and chairman of the Tourism Committee, echoed those comments and said the aim of the forum was to cater to the needs of business people by providing a platform through which additional avenues for growth and success can be explored, by offering valuable insights and discussing initiatives designed to enhance the overall investment experience.
Muaath Al-Bishi, deputy CEO for strategy and innovation at the Social Development Bank, gave an overview of its financing initiatives and highlighted its active role in supporting entrepreneurs, small enterprises, and artisans.
He said the bank has provided support worth SR2 billion ($533 million) in sectors such as tourism, culture, entertainment, and supporting industries.—Agencies
