WTTC Lauds Saudi Arabia New Tourism Investment Program

Wednesday, March 6, 2024

The World Travel & Tourism Council (WTTC) applauds Saudi Arabia for unveiling its Tourism Investment Enablers Program (TIEP), aimed at enhancing the investment climate within the nation. This initiative promises to simplify and economize the process for both international and domestic investors looking to engage in business activities.

Central to TIEP, the Hospitality Investment Enablers Program aims to broaden and improve Saudi Arabia’s hospitality sector by boosting accommodation options in specific locales.

Achieving a significant milestone seven years ahead of schedule, Saudi Arabia hosted 100 million visitors in 2023. Currently, the country is on an ambitious path to draw 150 million tourists by 2030, showcasing its commitment to scaling new heights in the tourism sector.

In 2023, Saudi Arabia saw a remarkable 156% rise in international tourist numbers compared to 2019, underscoring its robust recovery and adaptability.

Key strategic measures, including a substantial $800 billion investment in tourism infrastructure and the introduction of an eVisa program, are propelling Saudi Arabia to the forefront of global tourism destinations.

The WTTC extends its congratulations to Saudi Arabia for its ongoing achievements and looks forward to a future where tourism thrives more vibrantly and inclusively.

« Back to Page