Saudi Minister: Unified GCC Tourist Visa Boosts Tourism

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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Saudi Minister: Unified GCC Tourist Visa Boosts Tourism

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

Saudi Minister of Tourism Ahmed Al-Khateeb took part in the eighth meeting of Gulf Cooperation Council (GCC) tourism ministers in Doha during which he said a unified GCC tourist visa improves the position of Gulf countries as top tourism destinations.

The meeting addressed means of enhancing collaboration in implementing the unified tourist visa for GCC countries.

Al-Khateeb, in his speech, commended the historic step taken by the GCC Supreme Council in approving this initiative, which reflects the commitment of GCC countries to strengthen tourism cooperation.

He further emphasized that the unified GCC tourist visa will significantly improve the Gulf states' standing as a distinguished global tourist destination.

Al-Khateeb commended the progress in activating the Gulf Tourism Strategy and stressed the importance of continuing efforts to implement the agreed-upon initiatives and programs within the strategy.

Highlighting the Saudi plans, the minister noted that the Kingdom will invest $800 billion in various cities and major tourist destinations over the next decade. He recognized tourism as a prominent economic sector contributing to achieving Saudi Vision 2030 by welcoming 27 million international visitors by 2030.

Al-Khateeb said during the first three quarters of 2023, visitors to the Kingdom spent SAR100 billion. The minister stated that the Kingdom ranked first among the Group of Twenty (G20) countries and second globally in terms of the growth in the number of international tourists, with a remarkable 56% increase in 2023 compared to 2019.

Building on these achievements, the Kingdom aims to welcome 150 million visitors by 2030, including 80 million domestic tourists and 70 million international tourists, Al-Khateeb said.

He emphasized that investments will not only benefit the Kingdom but also have a positive impact on all GCC countries and highlighted the need to increase the percentage of the travel and tourism sector's contribution to the GDP in GCC countries from the current 7.8% to 10%.

The minister stressed the importance of joint tourism efforts in the Gulf region, especially considering the upcoming investments in mega tourism projects. He called for the activation of initiatives, programs, and activities that maximize the benefits of attracting international visitors.

"We affirm our continuous support to achieve further achievements and successes aspired by the leaders of the GCC countries," the minister concluded.



Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
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Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's central bank kept its key interest rates unchanged on Thursday, it said in a statement.

The overnight lending rate remained at 28.25%, while the overnight deposit rate stood at 27.25%, the central bank said.