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Saudi Arabia Minister of Tourism, Ahmed Al-Khatib, has announced that the Kingdom is currently working on new regulations and legislation to streamline the investment process in the country's tourism sector.
Saudi Arabia has experienced a significant transformation in tourism, surpassing its 2030 visitor target by attracting over 100 million visitors through the implementation of regulations and the launch of large-scale projects.
Al-Khatib also disclosed the ministry's efforts to provide long-term funding at competitive rates to encourage investment in the Saudi tourism industry.
He highlighted the sector's achievements, including 60 million visitors and SAR 143 billion in spending during the first half of 2024, representing a 10 percent increase in both tourists and expenditure.
Additionally, the sector's contribution to the GDP has reached five percent, with a target of reaching 10 percent, equivalent to SAR 600-700 billion in tourism income.
Furthermore, Al-Khatib mentioned the launch of the Bachelor of International Hospitality Management programme, a collaboration between the Ministry of Tourism, King Khalid University, and Hong Kong Polytechnic University.
He also revealed a Memorandum of Understanding between the Ministry of Tourism and the Colleges of Excellence Company to enhance human capabilities and expand international technical colleges and strategic partnership institutes in tourism and hospitality.
Al-Khatib stated that 10,000 training opportunities, both domestic and international, would be provided for those working in the industry.
