Tourism venture Asfar in Saudi Arabia to boost global travel

Saturday, July 29, 2023

The Public Investment Fund has recognized the Saudi Tourism Investment Co. or Asfar, and confirmed Saudi Arabia’s development to turn into an international travel place, for propelling funding in tourist attractions and missions in the Kingdom. 

Asfar will include the private division by means of co- investments and generate prospects for native dealers, workers along with small and medium enterprises in Saudi Arabia.

The new firm will be backing Saudi Arabia’s National Tourism Strategy, which by 2030, targets to draw 100
million national and worldwide tourists yearly. 

The firm will finance in new tourism schemes and progress striking destinations with cordiality, tourist allures, selling along with food and beverage assistances in cities in all through Saudi Arabia. 

Saudi Arabia is moreover considering growing the involvement of the tourism segment to the gross
domestic product of the country to over 10 percent.

The newly inaugurated company would exploit Saudi Arabia’s strategic position across the three continents of Asia, Europe and Africa to advance the loveliness and assortment of the topography of the Kingdom.

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