RIYADH: Of all the industries impacted by the pandemic, the hospitality sector was the worst hit in Saudi Arabia and the Gulf, as in all other territories.
In 2020, hotel occupancy rates declined to 49 percent in Riyadh from 60 percent in 2019. Likewise, Makkah witnessed a decline from 61 percent to 25 percent, and Jeddah from 58 percent to 37 percent, according to professional services firm Deloitte.
However, the Kingdom’s travel and tourism sector enjoyed an equally dramatic rebound. Riyadh, Dammam and Jeddah witnessed revenue per available room recovery index rates of 88 percent, 85 percent and 56 percent, respectively, in 2021, as recently reported by the US-based hospitality research company STR.
Furthermore, the pace of growth is set to gather steam as the Kingdom’s Vision 2030 reform program aims to attract 100 million annual visitors within eight years.
The reforms will also focus on T&T outside the traditional destinations of Hajj and Umrah and in line with national gigaprojects such as NEOM and The Red Sea Development Company.
“There is a palpable excitement about Saudi Arabia – not just locally, but globally,” said Philip Wooller, area director, Middle East & Africa at STR.
“Despite the challenges of the last two years, the acceleration of Saudi Arabia as both a leisure and business destination has been remarkable, and the ambitious plans laid out in Vision 2030 are on track.”
These remarks were echoed by Haitham Mattar, managing…