Minister of Tourism, Ahmed bin Aqeel Al-Khateeb, has stated that the Kingdom of Saudi Arabia is the fastest growing among the Group of Twenty (G20) countries in the tourism sector, with the number of visitors having surpassed 30 million. He added that this represents 40% of the targeted number of tourists, with the sector being one of the most important in terms of contributing to economic growth.
During a plenary held entitled ‘What is the Vision for High-Growth Industry? within the Future Investment Initiative (FII)’, Al-Khateeb explained that work is underway to raise the contribution of the travel and tourism sector to gross domestic product (GDP) from 3% in 2019 to 10% by 2030. This equates to reaching 100 million local and international tourists.
Work is underway to raise the contribution of the travel and tourism sector to gross domestic product (GDP) from 3% in 2019 to 10% by 2030
He explained that the Kingdom is investing more than $800 billion in the tourism sector, through projects such as the Red Sea project, the Diriyah and Qiddiya projects, and other private projects in various regions of the Kingdom.