Saudi Arabia needs to inject $200 billion into tourism sector over next decade

Published 23 Dec,2020 via Asharq Alawsat (English Edition) - Saudi Minister of Tourism Ahmed Al-Khatib affirmed that the Kingdom has everything required to realize its ambitious plan to become one of the world’s primary tourism destinations.

Khatib pushed back against suggestions that the Kingdom had been “overly ambitious” when it set the goal of 100 million touristic visits by 2030. He also called on investors to take part in developing this “emerging sector” by joining forces with the Kingdom and contributing to the $ 200 billion that must be put into this sector over the next decade to help build what he described as a “virgin sector” where first movers will benefit tremendously.

In his interview with the “Frankly Speaking” program of the Saudi Arab News newspaper, he said: “We opened our doors and hearts to international tourists to come and explore Saudi Arabia and experience Saudi Arabia, and experience our culture, our nature, our pristine and great beaches of the Red Sea or the East Coast and our major cities. Therefore, you know we believe we can get a big share of the 1.4 billion tourists who traveled back in 2019,” “Our target is indeed ambitious. However, we have everything we need to achieve our target.”

He added that there are lucrative investment opportunities in Saudi Arabia’s tourism industry, especially for those who get ahead of the rest.

The Saudi Minister of Tourism also talked about how his ministry used the year of the coronavirus to develop the ministry and support local tourism while adhering to all the required measures, indicating that it is an endeavor that will continue throughout 2021.

He also alluded to the fact that Saudis are known for being among the world’s top spenders on tourism, estimating their net spending on travel and shopping at 22 billion dollars, and compelling them to spend a large chunk of this money locally is also part of the initiative.

When asked about the Kingdom’s response to the criticism and boycott campaigns launched by international media outlets: he said “I believe the best thing to do is to come and experience how people live here and see how the nine million expats living in Saudi Arabia enjoy it with their families.”

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