Saudi Tourism Investment Initiative Launched in Riyadh
RIYADH, Saudi Arabia — The Ministry of Tourism, in partnership with the Ministry of Investment, launched the Investment Enablers Initiative for the hospitality sector. Announced during the Future Hospitality Summit in Riyadh, the initiative is part of a broader effort to boost Saudi tourism investment and position the Kingdom as a leading global destination.
Supporting Local and Global Investors
Engineer Mahmoud Abdulhadi, Deputy Minister for Tourism Destinations Enablement, emphasized the initiative’s role in attracting private investment. Designed to target promising destinations, it offers tailored incentives and regulatory support. As a result, both local and international investors will benefit from reduced risk and improved access to opportunities.
The program aims to unlock SAR 42 billion in tourism investments by 2030. It is expected to contribute SAR 16 billion to the national GDP and create 120,000 new jobs. Moreover, government partners have reduced annual fees related to the sector by 22%, streamlining the investment process.
Aligning with Vision 2030 Goals
This initiative supports the broader Tourism Investment Enablers Program. One of its primary goals is to raise the number of hotel rooms to over 550,000 by 2030. It also aims to help the Kingdom welcome 150 million tourists annually.
To achieve this, the government is offering strategic enablers. These include access to government land, simplified development procedures, and new regulatory frameworks. Such tools improve cost efficiency and reduce entry barriers for investors.
Creating a Business-Friendly Environment
Engineer Saleh Al-Khabbati, Deputy Minister for Investment Development, confirmed the Ministry’s commitment to enabling a smooth investor journey. He noted that recent reforms aim to maximize flexibility and attract long-term capital.
During the summit, the Ministry of Tourism also held meetings with local and international investors. These sessions introduced available incentives, addressed concerns, and highlighted the potential of Saudi tourism investment.
