Saudi Arabia Approves 19 Hospitality Projects Worth US$1.8 Billion to Boost Tourism
Saudi Arabia: Saudi Arabia has approved 19 hospitality projects under its Hospitality Investment Enablers (HIE) Programme, attracting SAR6.7 billion (US$1.8 billion) in investment and expected to create more than 17,000 jobs across five tourism destinations. Announced by the Ministries of Tourism and Investment, the projects will add over 3,000 hotel rooms, with approximately 40% planned for coastal destinations, and are expected to contribute more than SAR2.4 billion (US$640 million) annually to GDP by 2030 and generate over SAR5.3 billion (US$1.42 billion) in local content. The programme offers targeted incentives to reduce operating costs and encourage private-sector investment, with the first project scheduled to open by the end of 2026 and the final projects expected to open in 2029. The expansion supports Saudi Arabia’s Vision 2030 tourism ambitions ahead of Expo 2030, the FIFA World Cup 2034 and other major international events.
Source: Trade Arabia
