Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

FII: Saudi Arabia plans to invest $1tn in tourism over 10 years

FII: Saudi Arabia plans to invest $1tn in tourism over 10 years

The kingdom is one of the biggest investor in the sector, says the minister of tourism
Saudi Arabia has set aside more than $1 trillion to invest in the tourism sector over the next 10 years, said Ahmed Al Khateeb, the Minister of Tourism.

The kingdom is also one of the biggest investors in tourism, which was hit hard by the travel restrictions during the Covid-19 pandemic, Mr Al Khateeb told a panel called the Future of Tourism at the fifth Future Investment Initiative on Tuesday.

"Tourism and travel were the most affected by the Covid-19 pandemic among the sectors of the global economy, but we are on the path to a return to recovery, which requires international co-operation to enhance the recovery phase," he said.

The minister said that economies would not recover until tourism recovers. "And that means we must unite as a global sector to redesign tourism based on shared principles that define the future we want to see."

The kingdom believes that the recovery of the global economy depends on the recovery of the tourism sector, "so we need to work together to reactivate tourism according to effective principles of work, to achieve common goals", he said.

The tourism sector is expected to provide 260,000 jobs over the next three years while it aims to provide one million jobs by 2030, bringing the total to about 1.6 million jobs, Mr Al Khateeb said.

The minister urged countries to work together at large, including governments and the private sector, developed and developing nations, "to strengthen tourism organisations and increase representation in forums like the G20", which Saudi Arabia hosted last year, to deliver "the future for tourism that we all want and need".

Arnold Donald, the chief executive of Carnival Corporation and Chairman of the World Travel and Tourism Council, said the tourism industry “needs the collaboration between governments and the private sector" to harmonise and provide "frictionless travel", as well as equal distribution of vaccinations around the world.

“First, we have to accept the vaccinations at different places to make it frictionless travel, and secondly, vaccine equity, so that means certain people can be vaccinated as was stated in the opening keynote,” he told the panel.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×