Saudi Arabia has set itself a host of lofty targets to reach by 2030, including for the oil producing giant to see tourism contribute 10% to the country's GDP. The kingdom’s strategy, which will forge a key part in Crown Prince Mohammed bin Salman’s Vision 2030, aims for tourism to be the second largest contributor to GDP after oil and gas by 2030 – increasing to 10 percent from 3.6 percent today.
Mahmoud Abdulhadi, deputy minister, Investment Attraction, Ministry of Tourism of Saudi Arabia referred to the $500 billion-plus, which is being spent on massive projects such as the Red Sea Development, Qiddiya, Diriyah, AlUla and NEOM, which are set to revolutionise the kingdom’s tourism offering to the national and international audience.
Saudi has introduced a raft of reforms designed to open itself up to the global community, including a stipulation that all international companies looking to win government contracts in the kingdom must have their regional headquarters in Riyadh by 2024 – a move which Abdulhadi believed would see huge benefits for the capital’s business travel sector.
Read the full story at Arabian Business