Tourism investors urged to act before KSA’s ‘competitive advantage’ window closes
RIYADH: Saudi Arabia has called on global investors and developers to come and explore tourism and hospitality projects in the Kingdom, as the current window of competitive advantage will not remain open indefinitely.
Speaking at the opening ceremony of the Future Hospitality Summit in Riyadh on June 23, Prince Turki Al-Faisal Bin Abdulaziz Al Saud, chairman of the board of directors for King Faisal Center for Research and Islamic Studies, said that Saudi Arabia’s changing regulatory environment has given more room for investors to become part of world-class hospitality destinations in the Kingdom.
Strengthening the hospitality sector is a key goal of Saudi Arabia’s Vision 2030, as the Kingdom aims to become a global tourism hub by the end of this decade as part of its economic diversification efforts.
Having already surpassed the 100 million target, Saudi Arabia’s National Tourism Strategy aims to attract 150 million visitors by 2030.
