17 Hrs
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الاقتصادية
Saudi Arabia approves initial hospitality investment projects
The Ministries of Tourism and Investment in Saudi Arabia announced the approval of the first batch of projects under the Hospitality Sector Investment Enablers Program, aimed at reducing operational costs, enhancing economic viability, and attracting investments. This batch includes 19 projects across five tourist destinations, with potential investments estimated at around 6.7 billion riyals, and the creation of over 17,000 jobs. The program seeks to increase the sector's capabilities to support sustainable tourism growth. These projects are expected to contribute by 2030 to raising their share in the GDP by more than 2.4 billion riyals and developing over 3,000 hotel rooms, supporting the diversification of hospitality options and stimulating related tourism industries.
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