Saudi Arabia’s Minister of Tourism, Ahmed Al Khateeb has announced that investments in the tourism sector are projected to reach $500 billion over the next 15 years.
“The private sector is a contributor to these projects, of which the investments are estimated at $500 billion over the next 15 years,” Al Khateeb noted during a panel discussion at the Local Content Forum, as reported by the Saudi Gazette.
Al Khateeb said that the tourism sector represents a fundamental pillar of the national economy and one of the pillars of the Kingdom’s Vision 2030. Giga projects such as those being built in NEOM, the Red Sea, Qiddiya and Diriyah, are a testament to this commitment.
Speaking at the conference, Al Khateeb highlighted the work that the Ministry is doing to localise a significant portion of this spending, with the goal of creating more job opportunities for Saudi nationals, according to Argaam reports.
“Some operators in hotels and tourism resorts came to us and said candidly that they have wonderful energy level but need training,” he said during the event.”We said we will participate with you in this respect. Just as the financial sector was built in the eighties, we will build this sector by contributing and participating with the private sector.”
Saudi Arabia is planning to spend $100 million annually to train 100,000 young Saudi men and women to work in various facilities in the tourism sector, the minister said.
“More than 15 resorts in the Red Sea will be opened in 2025,” he added.
Emphasising the Ministry’s commitment to localising executive roles, design processes, materials and operations, Al Khateeb noted that 50% of the jobs at newly opened resorts along the Red Sea are being filled by Saudi nationals.
