Riyadh: The Ministry of Tourism is participating in the ongoing Future Hospitality Summit here, which concludes on May 1.
This key industry event brings together leading hospitality investors and decision-makers to discuss hotel development, sustainability, innovation, and entrepreneurship in the sector.
The ministry has a dedicated pavilion at the accompanying exhibition to showcase its Hospitality Investment Enablers initiative, a key part of the wider Tourism Investment Enabler Program. This program identifies promising investment opportunities and provides investors with the necessary support.
The Hospitality Investment Enablers initiative aims to achieve several key goals aligned with the National Tourism Strategy. These include attracting SAR42.3 billion in new investments across the Kingdom’s destinations, contributing SAR16.4 billion to GDP, creating 120,000 jobs, and increasing hotel room capacity by 42,000. Ultimately, this initiative seeks to solidify Saudi Arabia’s position as a leading tourist
destination.
During a panel discussion on Vision 2030-aligned investment opportunities in the Kingdom’s hospitality sector, Tourism Deputy Minister for Investment Attraction Mahmoud Abdulhadi highlighted the promising growth prospects of the hospitality industry.
He detailed the significant incentives and support offered by the ministry through various programs and initiatives, which are designed to attract investors and their capital to this flourishing sector.
Source: Saudi Press Agency