Saudi Arabia’s Bold Move: A $11.2B Injection Planned for Tourism Industry
Continuing its major dive into the tourism industry, Saudi Arabia isn’t holding back. From AI-driven cities like NEOM to major sporting events like the 2023 Saudi Games, the Kingdom is becoming the ultimate tourism hub.
Not holding back, it’s now looking to create 120,000 tourism jobs and launch a new initiative to boost private investments in tourism sites across the Kingdom by 11.2 billion dollars.
The initiative is all about making it easier and more cost-effective for business operations to take place in the Kingdom. Part of the initiative includes strategic enablers, such as facilitating access to government-owned land as well as reducing barriers to market entry.
It’ll also help increase the accommodation capacity of several tourist destinations, allowing the Kingdom to boost its tourism offering. Seeing how Saudi Arabia isn’t holding back when it comes to diversifying its economy, it’s proving that it’s on its way to becoming a tourism powerhouse.
