Saudi Tourism Development Fund allocates $266m to support 50 projects, minister reveals
RIYADH: The Saudi Tourism Development Fund has allocated SR1 billion ($266 million) to support up to 50 small and medium-sized projects announced by the Kingdom’s Tourism Minister, Ahmed bin Aqil Al-Khatib.
He disclosed this during the ministry’s second virtual monthly meeting held to review progress in this key sector, Al Arabiya reported.
Al-Khatib also referred to the ministry’s efforts to further elevate the role of the tourism sector in the Kingdom.
He revealed that the ministry encourages and motivates small project promoters to submit important feasibility studies in order to obtain the necessary support. This will help them provide highly efficient tourism services.
In an attempt to move towards achieving the ambitions and aspirations of the national tourism strategy, the ministry is currently preparing the Umrah strategy, Taif city development strategy, preparing for the winter season and to try to keep up with the World Cup,” Al-Khatib said.
In addition to this, the ministry has allocated up to SR100 million per year to train and help equip individuals to work in the Kingdom’s tourism sector. The ministry also recommended a number of investors in the sector to further localize jobs and attract more Saudi talent, he said.
Since the establishment of the ministry, the number of enterprises operating in the tourism sector has reached 777 enterprises. It now aims to increase the number of companies operating in the sector to 1,000 in the near future, the minister revealed.
By providing tourism programs characterized by diversity and richness, Al-Khatib said they will be able to create more opportunities for competition and improve services in the Kingdom.
Additionally, as part of the Kingdom’s Vision 2030, Saudi Arabia has an ambitious target of receiving 30 million pilgrims and Umrah performers per year by 2030. To achieve this, he said that positive cooperation from various government sectors related to travel arrangements will be required. The Minister explained that it is also necessary to offer an integrated tourist experience that meets the aspirations of visitors and tourists.
The Kingdom is currently developing a number of attractive tourism projects in various destinations such as Neom and the Red Sea coasts, he said.
Riyadh is poised to become the capital of the global tourism industry as the Kingdom steadily diversifies its economy in line with the goals set out in Saudi Arabia’s Vision 2030 strategy, Al-Khateeb pointed out.
Speaking at the Future Investment Initiative in Riyadh on October 25, Al-Khateeb said that to provide incoming travelers with the best possible experience, the country is building spectacular destinations that will operate sustainably.
“We have the vision, we put the plan, and we put all the resources, especially the financial resources to realize the plan,” Al-Khateeb said.
Earlier this year, the Saudi authorities signed an agreement aimed at strengthening cooperation in tourist transport services within the Kingdom, supporting maritime tourism and developing and promoting tourism in the western and eastern regions. ‘is.
The MoU was signed by Saudi Railways Co., known as SAR, and Cruise Saudi, which is responsible for developing the Kingdom’s cruise industry.