Saudi Arabia is increasingly focusing on tourism as a key sector to attract domestic and international investors, positioning it as a central pillar of the country’s economic diversification strategy under Vision 2030.
Tourism as a Growth Engine
Historically reliant on oil, Saudi Arabia is now investing heavily in tourism to:
Diversify revenue streams beyond hydrocarbons,
Create jobs for the growing youth population,
Promote the Kingdom as a cultural and leisure destination.
This includes both religious tourism, centered around the Hajj and Umrah pilgrimages, and leisure tourism, such as luxury resorts, heritage sites, and entertainment projects.
Major Tourism Initiatives
NEOM & The Line – Ultra-modern cities attracting tech and leisure investors.
Red Sea Project – Luxury resorts on the Red Sea coast emphasizing eco-friendly development.
Al-Ula – Cultural and heritage tourism, with archaeological sites and festivals.
Qiddiya – Entertainment city with theme parks, sports, and cultural attractions.
These projects aim to draw foreign investment, create thousands of jobs, and build a tourism ecosystem that rivals global standards.
Investment Opportunities
Saudi Arabia is offering incentives for investors in tourism:
Public-private partnerships,
Tax exemptions and incentives,
Fast-track licensing for hospitality and entertainment projects.
The government sees tourism not only as an economic opportunity but also as a soft power tool, enhancing Saudi Arabia’s international image and cultural influence.
Outlook
With billions in planned investment, Saudi Arabia aims to increase tourism’s contribution to GDP from roughly 3% today to 10% by 2030. Analysts note that success will depend on infrastructure, quality of services, and global perception of the Kingdom as an accessible and attractive destination.
Tourism is no longer just a sector—it’s a strategic driver of economic transformation, with the potential to reshape Saudi Arabia’s global position and domestic economy.