Saudi Arabia give out $2.67bn to develop & expand new tourism projects

Published on : Monday, July 17, 2017

indexOn this Sunday, Saudi Commission for Tourism & National Heritage or SCTH explained that Saudi Arabia has distributed approximately $2.67 billion (SR9.9 bn) this year for the cause of expansion and rebuilding of tourism projects in the country.

Also, at a recent statement, the government on its website expressed about six new initiatives which have received approval under the “National Transformation Program 2020”.

Mohamed Al Nashmi, head of the achievements of kingdom’s Vision 2030 in SCTH explained that they are revisiting and cross-checking their tourism policies so that they can standardize them to the Vision 2030 goals.

They will approximately get 40 percent of the SR9.93bn government funds while the outstanding 60 percent will be allocated amongst its government partners. The commission calculates that the total private sector investment has a possibility to reach SR16 billion, representing 64 percent of total expenditures until 2020.

Growth of integrated tourism destinations for families in Al Ula, Fursan Islands, and Al Raas Al Abyad Shore remains the main focus. The primary initiatives are; expansion and growth of Okaz City in Taif region’ rehabilitation of 80 archaeological sites of which three sites will be enlisted on the UNESCO’s World Heritage List, and make possible arrangement of 122,000 student tours by 2020 under the “Live Saudi Arabia” programme.

In 2016, the Saudi Vision 2030 development plan was launched with an aim to boost the revenue earned from tourism to 18 percent in the next 14 years, as the country focuses to attract 1.5 million tourists by 2020.

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