His Excellency the Minister of Tourism, Mr. Ahmed Al-Khatib, confirmed that the Tourism Development Fund is prepared to finance tourism projects up to 50% of the project’s value, with banks also set to provide partial funding. He noted that the ministry has focused on developing strategic and governance plans to increase the Kingdom’s tourism sector to 10%, which will support the national economy.
This came during a panel discussion organized by the exhibition “Distinguished City Projects During the Reign of the Custodian of the Two Holy Mosques“ titled ”The Impact of Vision 2030 Initiatives on Saudi Cities,” noting that the Ministry of Tourism has developed strategic plans to develop tourism in the Kingdom; it conducted a comprehensive survey across the Kingdom, during which it optimized the use of tourist sites, including the Red Sea Project, which spans an area of 1,700 kilometers and features islands considered among the most beautiful in the world.

Al-Khatib explained that the ministry signed an agreement to build a training center in the capital, Riyadh, to train personnel, and has also trained more than 50,000 male and female citizens in the tourism sector, with the goal of creating one million jobs in the tourism sector to fulfill the Kingdom’s Vision 2030. He noted that the Kingdom aims to attract 100 million visitors by 2030, 50% of whom will be hosted by the capital, Riyadh.