The Saudi Ministry of tourism took centre stage at the International Hospitality Investment Forum (IHIF) held from April 15-17, in Berlin, and presented a unique opportunity for global investors to dive into the thriving tourism landscape of the kingdom.
With the spotlight on the tourism Investment Enablers Program (TIEP), that was recently announced, Saudi Arabia is intensely pursuing its Vision 2030 goal of being a top global tourism destination for investors and tourists alike.
The flagship Hospitality Investment Enablers (HIE), one of TIEP’s initiatives, aims to leverage this momentum, planning an investment infusion in the hospitality sector of up to SAR 42 billion ($11.20 billion) in key destinations, which alone is anticipated to create 120,000 new jobs by 2030.
The IHIF audience is getting a close look at Saudi Arabia’s plans to expand its accommodation capacity dramatically. The kingdom is targeting an increase in hotel rooms to over 500,000 and aiming…