Saudi Arabia’s tourism sector growth is exponential: SCTH Chairman

Chairman of the Saudi Commission for Tourism and National Heritage (SCTH), Ahmed Al Khateeb, said the growth of tourism sector in Saudi Arabia is exponential.

In his opening remarks to the special report issued recently by Invest Saudi titled “Investments Highlights”, Al Khateeb added that Vision 2030 is unlocking ‘exciting’ investment opportunities at an unprecedented rate.

He also reiterated that the Kingdom is expected to welcome 100 million domestic and international visitors yearly by 2030, which will create 1 million new jobs and increase the sector’s contribution to national GDP from 3 percent to 10 percent.

“Approximately 150,000 hotel rooms will be built in the next three years, 70 percent of which will be private-sector funded, and an additional 500,000 hotel rooms are likely to be added by 2030,” SCTH chairman noted.

Al Khateeb praised the new regulations introduced by the Saudi Government , including empowering the private sector, as well as launching the new tourism visa scheme, where more than 55,000 visas have been already processed in one month.

Saudi Arabia has launched end of September 2019 the online application for tourist visa for 49 countries, including the majority of European states, the United States, Canada, Australia, New Zealand and some Asian countries.

Read more: Saudi Arabia to launch tomorrow online tourist visa application for 49 countries

Al Khateeb also highlighted that tourism sector is generating the interest of regional and international investors, noting that Saudi Arabia has announced signing investment agreements worth over $30 billion in September only.

He further explained that the Kingdom is working towards achieving its milestones covering cultural, touristic, and historical segments, through launching a series of initiatives such as Saudi Seasons, as well as major tourism projects including NEOM, Red Sea, Amaala, and Qiddiya.

“These projects are not only creating a positive economic shift, but also playing a significant role in the cultural and social transformations taking place in the Kingdom,” SCTH chairman stated.

On the global level, Al Khateeb noted that tourism sector is forecast to grow by 3.7 percent per annum until 2029, contributing to more than $13 trillion to the global economy, equivalent to 11.5 percent of Gross Domestic Product (GDP).

Write to Christine El Cheikh at christine.elcheikh@argaamplus.com