Real estate consultancy Knight Frank has revealed that Saudi Arabia will see significant growth in the hospitality sector with the development of 320,000 hotel rooms to meet the expected surge in tourism by 2030.<\/p>\n
With 150 million domestic and international tourists expected to arrive by 2030, Riyadh's bid to host World Expo 2030 is expected to inject a major economic boost of $94.6 billion into the capital, with an estimated 40 million visitors expected to arrive during the six-month event, the company said in a report.<\/p>\n
According to Knight Frank, the current hotel supply in the Kingdom is expected to grow by 66%, many of which fall into the luxury and upscale category. However, this segment of the market is expected to grow by up to 72% by 2030, equivalent to 251,500 hotel rooms.<\/p>\n
According to Knight Frank's analysis, 67% of the planned hotel units in the Kingdom will fall into the \u201cupscale\u201d or \u201cluxury\u201d categories (4-star and 5-star). According to the World Trade Organization, hotels in the 4 and 5-star categories require, on average, 1-2 employees per room, suggesting that between 232,000 and 387,000 key employees may need to be accommodated in this segment of the Kingdom's hospitality market.<\/p>\n
The real estate consultancy noted that by the end of 2023, the Kingdom welcomed around 100 million domestic and international tourists, with the tourism and hospitality sector contributing an estimated 6% of the Kingdom's GDP. This boosts the sector and puts it on track to achieve the government's goal of 10% by the end of the decade.<\/p>\n
According to figures from the Ministry of Tourism, tourism spending in the first half of 2023 rose to 87 billion riyals, registering an increase of 132% compared to 2022, showing the outstanding performance during this half-year period.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The real estate consulting firm Knight Frank has revealed that Saudi Arabia will see significant growth in the hospitality sector through the development of 320,000 hotel rooms to meet the expected boom in tourism by 2030. In a report, the company stated that 150 million domestic and international tourists are expected to visit by 2030, noting that winning \u2026 Read more<\/a><\/p>","protected":false},"author":27,"featured_media":55083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[118],"tags":[],"class_list":["post-64902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hospitality-entertainment"],"acf":{"amlak_post_excerpt":"\u0646\u0627\u064a\u062a \u0641\u0631\u0627\u0646\u0643 \u062a\u062a\u0648\u0642\u0639 150 \u0645\u0644\u064a\u0648\u0646 \u0632\u0627\u0626\u0631 \u0628\u062d\u0644\u0648\u0644 2030 \u0648\u062f\u0641\u0639 \u0627\u0642\u062a\u0635\u0627\u062f\u064a \u0628\u0642\u064a\u0645\u0629 94.6 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631 \u0628\u0641\u0639\u0644 \u0627\u0633\u062a\u0636\u0627\u0641\u0629 \u0625\u0643\u0633\u0628\u0648.","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":"\u0646\u0627\u064a\u062a \u0641\u0631\u0627\u0646\u0643 \u062a\u062a\u0648\u0642\u0639 150 \u0645\u0644\u064a\u0648\u0646 \u0632\u0627\u0626\u0631 \u0628\u062d\u0644\u0648\u0644 2030 \u0648\u062f\u0641\u0639 \u0627\u0642\u062a\u0635\u0627\u062f\u064a \u0628\u0642\u064a\u0645\u0629 94.6 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631 \u0628\u0641\u0639\u0644 \u0627\u0633\u062a\u0636\u0627\u0641\u0629 \u0625\u0643\u0633\u0628\u0648."}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629-300x169.jpg",300,169,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",18,10,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2023\/03\/\u0648\u0632\u0627\u0631\u0629-\u0627\u0644\u0633\u064a\u0627\u062d\u0629.jpg",766,431,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0636\u064a\u0627\u0641\u0629 \u0648\u062a\u0631\u0641\u064a\u0647<\/a>","tag_info":"\u0636\u064a\u0627\u0641\u0629 \u0648\u062a\u0631\u0641\u064a\u0647","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/64902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=64902"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/64902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/55083"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=64902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=64902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=64902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}