Minister of Tourism Ahmed Al-Khateeb has underscored the tourism sector’s potential to create jobs across Saudi Arabia, given the diverse tourist sites and facilities that the Kingdom boasts.
The minister made the remarks on Wednesday during a panel discussion called “Future Directions for Local Content Under Saudi Vision” at the Local Content Forum 2024 held in Riyadh.
Al-Khateeb stated that the tourism sector plays a significant role in supporting economic diversity and sustainability in line with Saudi Vision 2030.
The minister highlighted that the tourism sector has increased its contribution to gross domestic product (GDP) from 3% in 2019 to 5% in 2023. The Kingdom aims to raise this figure to 10% in the upcoming years, aligning with the global average.
He pointed out that tourism has played a significant role in increasing job localization, moving from 3% in 2019 to 10%, in line with the global average.
The minister highlighted the Kingdom’s construction of major tourist cities such as NEOM, the Red Sea, Qiddiya, and Diriyah, along with private-sector projects like The Avenues, with investments estimated at over $500 billion over the next 15 years.
Al-Khateeb underscored the importance of localizing investments in terms of design, execution, and operation. He said the ministry allocates $100 million annually to train 100,000 citizens, both male and female.
He also highlighted projects achieving a 50% localization rate, including the Red Sea.
