Friday, February 3, 2023

Saudi Arabia commits $6tn of investment opportunities in travel and tourism: Minister

Saudi Arabia is offering investment opportunities worth $6 trillion in the travel and tourism sector through to 2030, as the Kingdom steadily pursues its journey to emerge as a global tourist destination by the end of this decade said Saudi Minister of Tourism, Ahmed Al-Khateeb, according to a report in Arab News.

Speaking at the World Travel and Tourism Council Global Summit in Riyadh , Al-Khateeb said that collective action globally is required to combat the challenges in the tourism sector.

“We built our tourism industry against the backdrop of a global disaster (COVID-19 pandemic). And we now have $6 trillion of investment opportunities through 2030,” said Al-Khateeb.

He added: “We value collaboration, we have proved that it will work. Our shared commitment to partnerships will drive the global industry forward. Saudi Arabia is reimagining tourism, making use of the power of partnership and ensuring that no one is left behind.”

Al-Khateeb noted that he is proud of Saudi Arabia’s achievements, both as a rapidly developing destination and as a global partner driving change across the travel and tourism sector.

“As the travel and tourism sector recovers stronger, we must put people and the planet first, at the very center of every decision we take,” he said.

The minister further noted that the travel and tourism industry will create 126 million new jobs in the next decade globally, which means one in every three new jobs created will be from the tourism sector.

Reaffirming Saudi Arabia’s commitment toward the industry and the young population in the nation, Al-Khateeb pointed out that the Kingdom is training 100,000 people annually to work in the tourism sector.

Arnold Donald, chairman of WTTC, said that Saudi Arabia is evolving rapidly as a tourist destination.

“This is my third visit to Saudi Arabia within the last 14 months, and each visit has been very impressive when compared to my previous visit. Saudi Arabia’s bold ambitions embody the region’s drive and energy in the travel and tourism sector,” said Donald.

He added: “This is a Kingdom that aspires to become one of the top 5 tourist destinations in the world, welcoming 100 million domestic and international travelers a year.”

Donald added that the public and private sectors are working together in pursuit of a common goal in Saudi Arabia, which is an example to the entire world.

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