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Saudi Arabia invests over $800bln in tourism sector: minister

Minister of Tourism Ahmed bin Aqeel Al-Khateeb stressed that the Kingdom of Saudi Arabia is the fastest growing among the Group of Twenty (G20) countries in the tourism sector, as the number of tourists in the Kingdom has reached more than 30 million. He added that this represents 40% of the targeted number of tourists, and the sector is one of the most important that contributes to economic growth.

During a plenary held today entitled “What Is the Vision for High-Growth Industry ” within the Future Investment Initiative (FII), Al-Khateeb said that work is underway to raise the contribution of the travel and tourism sector to gross domestic product (GDP) from 3% in 2019 to 10% by 2030 and to reach 100 million local and international tourists.

He pointed out that the Kingdom is investing more than $ 800 billion in the tourism sector, through projects such as the Red Sea project, the Diriyah and Qiddiya projects, and other private projects in various regions of the Kingdom that contribute to the advancement of the tourism sector.

He added that the Kingdom will be one of the first countries to facilitate business through legislation and laws to be among the most efficient sectors.