Saudi Arabia reaffirms Kingdom's commitment to attracting international investors to tourism sector

Minister of Tourism Ahmed Al-Khateeb has extended a warm welcome to international investors showing interest in the Kingdom's growing tourism industry. At the Future Investment Initiative (FII) Institute's Priority Rio de Janeiro Summit, he highlighted the huge potential of the sector, underpinned by Saudi Arabia's ambitious Vision 2030 economic diversification programme.

He drew attention to the importance of tourism globally, citing a recent report by the World Travel and Tourism Council (WTTC), which predicts that the sector's contribution to the global economy will reach US$16 trillion by 2034.

Al-Khateeb reiterated Saudi Arabia's commitment to attracting international investors, highlighting efforts to create a favourable business environment with simplified investment processes and reduced costs. 

The Minister expressed his desire to forge strong partnerships with other countries, citing the memorandum of understanding signed with Brazil. Lauding the relations between the two countries, he noted the potential for strengthening tourism co-operation. This is reported by Saudi Press Agency.

Al-Khateeb detailed Saudi Arabia's measures to improve tourism infrastructure, including the development and expansion of airports. The air connectivity improvement programme aims to increase the number of international flights to the Kingdom.