The list of incentives and enabling factors that Vision 2030 has provided to local and international real estate investors in the tourism sector, Vision 2030, led by His Royal Highness Prince Mohammed bin Salman, confirms that “the future of tourism real estate investment in the Kingdom is on the rise, growing, and flourishing.”

The economic and social benefits, the significant weight that tourism carries in the Kingdom, and the importance of its geographical location—a combination rarely found in a single country— make it rich in diverse tourist attractions that create numerous significant opportunities for real estate investors in the tourism sector, as well as achieving comprehensive sustainable development at the individual and societal levels, encompassing environmental, social, and economic aspects, as part of the exceptional development phase the Kingdom is currently experiencing.

In the context of national social responsibility, and given the great attention paid by the wise leadership to implementing the objectives of the Kingdom’s Vision 2030 to revitalize real estate investment in the tourism sector, the Kingdom, represented by the Ministry of Tourism, has achieved significant progress at both the local and international levels, as well as numerous accomplishments with the support from its wise leadership.

According to statistics published on the official Twitter page of the Saudi Ministry of Tourism:

– The Kingdom recorded 60 million domestic overnight trips, representing a 251% growth rate compared to 2019

– It also achieved 80 billion riyals in spending on domestic overnight trips, a 301% increase compared to 2019.

– Additionally, the number of inbound trips (excluding Hajj and Umrah) recovered by 761% during the fourth quarter of 2021.

– The report also noted that the global average recovery stood at 24% of 2019 levels, and the number of employees in the Kingdom’s tourism sector grew by 10% compared to the end of 2020.

@OmarAlKendi