Saudi Arabia to Spend $1 Trillion Over a Decade to Build a Global Tourism Economy
Photo Credit: Riyadh Winter Wonderland, one of the entertainment zones of Riyadh Season 2021. Riyadh Season 2021
Skift Take
With a goal to attract 100 million tourists a year by 2030, Saudi Arabia realizes that it will have to promote itself aggressively as a leisure destination. A trillion dollars looks pretty aggressive.
In addition to the investment that it has already made in the last five years, Saudi Arabia plans to invest another $1 trillion in the tourism sector over the next 10 years.
"Today, Saudi Arabia is the largest investing destination in the tourism sector,” said Fahd Hamidaddin, CEO of the Saudi Tourism Authority.
Having set the ball rolling, the destination has signed up Argentinian soccer star Lionel Messi as its newest tourism ambassador even as American golfer Jack Nicklaus says he turned down $100 million to be the face of Saudi-backed LIV Golf Series according to reports on Monday.
Of course, the country historically struggled to win over both domestic and international tourists due to societal limitations, including a strict no-drinking policy and severe restrictions for women, as well as allegations of human rights abuses against journalists.
But the once popular religious destination is now pivoting towards leisure tourism with a ca
