Saudi Arabia aims tourism to contribute more to its GDP by 2030

Tuesday, March 15, 2022

Saudi Arabia envisions tourism to contribute more to its GDP by 2030, which is expected to hit $1.86 trillion, as the Kingdom aims to move away from oil.

The Kingdom plans to generate income types from non-oil sectors, and it will invest in tourism for attracting 100 million visitors every year, so that the sector contributes up to 15 percent of the GDP.

“By 2030 the aim is to have 500,000 hotel keys, most of it will be new, and 100 million visits per year,” investment minister Khalid Al-Falih said, adding that this will include “religious tourism which is quite substantial as well as domestic tourism and international tourism.”

Al-Falihwas speaking at an investment forum in Riyadh with Greek ministers, and said that the Kingdom’s National Investment Strategy will launch direct investment opportunities valued at $3.27 trillion until 2030.

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