By Staff writer
Vision 2030 initiative aims to increase revenue generated from tourism to 18 percent in 14 years
Saudi Arabia is targeting 1.5 million tourists by 2020, according to analysts.
The Saudi Vision 2030 development initiative announced by Deputy Crown Prince Muhammad Bin Salman aims to increase the revenue generated from tourism to 18 percent in the next 14 years, according to reports.
The vision also aims to establish an Islamic museum, which will draw a large number of tourists, including foreign pilgrims who visit the kingdom for Haj and Umrah.
Analysts expect that by 2020, the number of tourists visiting the kingdom would increase from 200,000 to 1.5 million.
Ibrahim Al Rashid, chairman of the tourism committee at Jeddah Chamber of Commerce and Industry, told the Saudi Gazette that investment of every $1 million in the tourism sector would create 167 direct and indirect jobs.
“Tourism is one of the focal points of the government’s strategy to strengthen the economy and reduce dependence on oil revenue,” he said.
“Tourism offers the best investment opportunities,” he said, while emphasizing the sector’s ability to create jobs for young Saudi men and women.
Al Rashid also revealed plans to establish a tourism investment fund, said the report.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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