Saudi Arabia has topped the G20 countries, which include the G20 economy, emerging market economies, and developing economies, at the level of economic recovery.
Saudi ministers affirmed on Tuesday that work is underway to create a safe environment for long-term investments, as part of the sustainable development strategy.
They pointed to the continued efforts to create new sectors, while focusing on positive change and empowerment and global influence.
Tourism Minister Ahmed al-Khateeb said the Kingdom topped the G20 countries in the field of tourism recovery.
He stressed that Saudi Arabia is the one of largest countries in the world in terms of investment incentives, noting that it achieved a record number of visitors and spending on tourism projects by hosting about 65 million tourists in 2022.
He expected the tourism rate to increase to 300% by 2030, given the government’s clear vision to develop the sector.
He also revealed plans to transfer the capital Riyadh into the first tourist destination globally.
Khateeb further disclosed the opening of the first phase of the Diriyah project soon, adding that part of the “Red Sea” and “NEOM” projects will also be inaugurated in 2023.
Speaking at the Future Investment Initiative Conference in Riyadh on Tuesday, Khateeb underlined the criteria that predict great tourism future in the Kingdom. These include the opening of 12,000 hotel rooms this year — the highest rate in the world, as well as the having five location on the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) World Heritage list and the various resorts and tourism destinations in the country.
The Minister also underscored the importance of the Public Investment Fund’s new national airline, RIA, which is set to link the tourist destinations in the Kingdom with other countries without any transits.
This privilege is considered one of the key factors taken into consideration by the tourists across the world and will facilitate access to various destinations in Saudi Arabia.
Khateeb pointed out that the tourism sector looks forward to contribute 10% to the GDP. He affirmed that all the resources needed by the sector are provided in line with the Kingdom’s Vision 2030.
He explained that the sector was able to recover by 60% compared to the same period in 2019, adding that it was able to restore 200 million jobs, compared to the 60,000 jobs lost during the coronavirus pandemic.
Minister of Economy and Planning Faisal al-Ibrahim, for his part, said the Kingdom is the fastest country in the world in terms of economic growth, with the least unemployment rate.
He expected its economy to grow between 7.4 to 8% by late 2022, adding that the non-oil GDP has recorded a 6.1% increase.
