The Hospitality Investment Possibilities Initiative.
Enabling Tourism Destinations
This came during the participation of Ministry of Tourism in the International Hospitality Investment Conference in Berlin (IHIF), where the participation included an introductory pavilion within the accompanying exhibition, in addition to participating in the dialogue sessions and introductory meetings with global investors participating in the forum, and reviewed the undersecretary of <a href="https://amlak.net.During his participation in the discussion sessions, the Undersecretary of <a href="_COPY Ministry of Tourism for Destination Empowerment Engineer Mahmoud Abdulhadi reviewed the promising opportunities that the Kingdom offers to international and local investors alike to invest in the tourism sector in the Kingdom, noting that the Hospitality Investment Possible Initiative launched by the Ministry of Tourism as part of the Tourism Investment Possible Program is part of the strategic objectives of Saudi Vision 2030 and is specifically designed to enhance the Kingdom's position as a global tourism destination while providing significant investment opportunities for local investors, indicating that the initiative
The participation of Ministry of Tourism coincides with the major achievements achieved by the Kingdom's tourism sector in 2023, as the number of tourists exceeded 106 million last year, achieving one of the targets of the Kingdom's vision seven years ahead of time; while the spending of tourists coming from abroad exceeded more than 135 billion riyals. The Kingdom aims to achieve more than 135 billion riyals in spending by tourists coming from abroad.
The Kingdom is targeting an ambitious increase in the number of hotel rooms to more than 500,000 rooms, which will contribute to hosting 150 million tourists annually by 2030. This strategy is designed to revitalize the hospitality sector, provide a quality range of supply in key tourist destinations and significantly enhance the attractiveness of diversified tourism in the Kingdom, and provide distinct opportunities for local investors to participate in the growth of the sector and reap the fruits of the tourism boom in the Kingdom. The strategy is designed to revitalize the hospitality sector, provide a quality range of supply in key tourist destinations and significantly enhance the attractiveness of diversified tourism in the Kingdom.
==== Main features of the Hospitality Investment Potential Initiative Improving the cost and ease of doing business.
<Facilitate access to government land on favorable terms.
Simplify project development processes. Simplify project development processes.
<Finding solutions to the challenges that investors may face.
<Developing a number of regulations.
Increase the number of hotel rooms by approximately 42,000 rooms.
<Providing about 120,000 job opportunities in tourism destinations.
More than 135 billion riyals spent by overseas tourists
