Saudia Arabia’s $800bn investment in tourism pays off

Saudi Arabia, along with other Arab Gulf countries, has been investing significantly in the development of infrastructure to attract more investors and establish a strong foothold in the hospitality industry. In a recent interview with CNBC Africa, Saudi Arabia's Tourism Minister, Ahmed Al Khateeb, highlighted the country's rapid growth in the tourism sector, with 30 million tourists visiting annually and tourism contributing nearly 10% to the country's GDP. Al Khateeb emphasized the importance of tourism in Saudi Arabia's Vision 2030 framework, a key initiative launched in 2016. The country's national tourism strategy, unveiled in September 2019, has been pivotal in opening access to Saudi Arabia through electronic visas for more than 59 countries, thereby making it a more attractive destination for international travelers. One of the remarkable milestones in Saudi Arabia's tourism journey is the announcement of an $800 billion investment to build new cities and destinations that promise unique experiences for global tourists. Despite the challenges posed by the COVID-19 pandemic, Saudi Arabia has managed to not only fully recover but also outpace other G20 countries in terms of tourism growth. The COVID-19 pandemic presented a severe setback to the global tourism industry, impacting millions of jobs worldwide. However, Saudi Arabia's proactive measures, including vaccination drives, quarantine protocols, and stringent travel restrictions, have played a crucial role in the country's swift recovery. Al Khateeb noted that the assurance of safety and the resumption of international travel have led to a record number of international arrivals in Saudi Arabia. As the world navigates the issue of sustainability in various sectors, Saudi Arabia is also focused on building a tourism industry that is economically, environmentally, and socially sustainable. With a significant emphasis on job creation, cultural preservation, and environmental protection, the country is laying the foundation for a resilient and responsible tourism sector. Looking ahead to the ambitious goal of attracting 150 million tourists by 2030, Saudi Arabia aims to further enhance its tourism revenue, create one million additional jobs, and continue fostering a vibrant tourism ecosystem. With a strategic focus on diversifying offerings, including the development of key rooms, retail spaces, restaurants, and entertainment venues, the country is poised to generate substantial employment opportunities for its young population. Innovations in the tourism landscape, particularly around artificial intelligence, are also reshaping the modern traveler's experience. Saudi Arabia's forward-thinking approach to designing future destinations, leveraging its natural assets like the Red Sea coast and islands, and incorporating cutting-edge technologies, is set to redefine the tourism landscape and position the country as a top destination for unique and unparalleled experiences. Despite geopolitical and geoeconomic uncertainties that may impact global tourism in the coming years, Al Khateeb remains optimistic about Saudi Arabia's tourism prospects. While the region may face external challenges, the country's focus on ensuring traveler safety, offering exceptional hospitality, and continually enhancing its tourism offerings is expected to sustain growth and attract visitors even in a dynamic global landscape. In conclusion, Saudi Arabia's remarkable journey in transforming its tourism sector, coupled with strategic investments, innovative approaches, and a steadfast commitment to sustainability, underscores the country's emergence as a leading player in the global hospitality arena.