RIYADH: Saudi Arabia has secured $13 billion in private sector investments for its tourism industry, aiming to distribute the costs involved in becoming a top destination, a minister said.
According to Princess Haifa Al-Saud, the Kingdom’s vice minister for tourism, the investments are expected to increase the number of hotel rooms by 150,000 to 200,000 within the next two years.
Saudi Arabia aims to raise tourism revenue to $85 billion this year, up from approximately $66 billion in 2023, Princess Haifa said in an interview with Bloomberg.