Saudi Arabia’s Public Investment Fund has outlined expanded tourism and hospitality ambitions under its newly approved 2026-2030 strategy. This includes plans to develop 100,000 hotel rooms and introduce 70 tourism experiences across the Kingdom.

The targets were announced by PIF governor His Excellency Yasir Al-Rumayyan during a government press conference in Riyadh following board approval of the fund’s latest five-year strategy, chaired by His Royal Highness Crown Prince Mohammed bin Salman.

Tourism, travel and entertainment will remain one of six priority domestic ecosystems under PIF’s Vision Portfolio, alongside urban development, logistics, advanced manufacturing, clean energy and NEOM.

For the hospitality sector, the announcement provides further clarity on the scale of accommodation supply and destination development expected through PIF-backed projects over the coming five years, as Saudi Arabia continues to build infrastructure to support higher visitor volumes.

He confirmed that the projects within NEOM have not been cancelled, but said some have been postponed and will be delivered in phases as part of a restructuring process intended to improve long-term financial sustainability. According to him, work is underway to restructure projects within the NEOM company to ensure sustainable financial viability, with a particular emphasis on phased implementation and investment efficiency.

Read the full story at Hotelier Middle East