More than 20 tourism projects are being implemented by the Tourism Development Fund, according to Head of Corporate Planning Department at the Saudi Commission for Tourism and National Heritage (SCTH) Nada al-Tamimi.
She pointed to the financing of a five-star hotel by Ajdan company in partnership with one of the international operators in Khobar (near the sea), with a total area of 6,800 square meters.
The value of the project is estimated at SAR330 million ($88 million), and it is expected to be completed in Q1 of 2024.
She noted that Saudi spending on tourism in the Kingdom’s eastern region has increased by about 38 percent in 2020.
Saudis spent about SAR589 million ($157 million) in points of sale during the summer of 2020.
Restaurants topped the list of spending, with an increase of 65 percent last year compared to the same period in 2019.
Spending on hotel services has seen a remarkable recovery from the repercussions of the coronavirus pandemic.
The rate of hotel occupancy has hit the highest during the summer of 2020, around 81 percent, Tamimi said, indicating that the Ministry of Tourism has worked with tour operators to launch more than 40 tourism packages in the eastern region.
The senior official told Asharq Al-Awsat that the ministry is working with the Saudi State Properties General Authority to improve the conditions for offering investment lands and with the Ministry of Environment, Water and Agriculture.
The ministry aims to come up with commercially feasible opportunities for the private sector, in addition to government initiatives to provide additional investment opportunities for the sector.
The number of tourism projects in the eastern region has reached 24.
“The 2030 tourism roadmap is based on two main phases. The first phase is scheduled to continue until 2022 before launching the mega projects while the other phase begins in 2022 and is expected to remain until 2030.”
