Arab News, Tue, Mar 05, 2024 | Shaban 24, 1445
Saudi Arabia unveils ‘Hospitality Investment Enablers’ for tourism growth
Saudi Arabia:
A new hospitality package is poised to enhance Saudi Arabia’s business
operations, project viability, and land access, a senior official announced.
The “Hospitality Investment Enablers” initiative,
designed in collaboration with the Ministry of Investment, aims to elevate the
efficiency of business operations and bolster project success, said Ahmed
Al-Khateeb, the minister of tourism.
He made the announcement during the opening
remarks of the “100 Million Welcomes Celebration” held in Riyadh, highlighting
the significance of the project.
Al-Khateeb said: “These strategic enablers are
designed to enhance business operations and project viability, facilitating
access to government-owned land under favorable terms, streamlining project
development processes, and minimizing barriers to market entry.”
He added: “We have streamlined the investor
journey to ensure a seamless experience. As part of these initiatives, we will
be launching the Tourism Investment One Stop Shop later this year, in
collaboration with our esteemed partners at the Saudi Business Center. Investors
can get everything they need to do business in tourism, all from one place.”
The total number of tourists in the Kingdom from
home and abroad reached 106.2 million in 2023, reflecting an increase of 56
percent compared to 2019, and an increase of 12 percent on the 2022 figures.
Al-Khateeb also highlighted the significant
economic impact of tourism in the Kingdom, noting that tourists spent over SR250
billion ($66 billion) in 2023, contributing 4 percent to the gross domestic
product.
The minister emphasized the positive impact of
tourism on local communities, promoting cultural exchange and showcasing Saudi
hospitality.
“I am delighted to announce the launch of the
Saudi Tourism Excellence Award, aimed at recognizing the invaluable
contributions of our local tourism and hospitality industry professionals,
fostering innovation, and consistently elevating industry standards,” Al-Khateeb
said.
He added that in 2023, there had been a 390
percent increase in demand for tourism activity licenses. “But our journey does
not end here. We are thriving, and Saudi tourism will continue ascending to even
wider horizons.”
Additionally, he further underlined the ongoing
accomplishments in Saudi Arabia’s tourism sector, including giga projects like
NEOM, Red Sea Project, AMAALA, AlUla, and Qiddiya, emphasizing the potential
impact of these projects when fully operational.
“This is why we are introducing the Tourism
Investment Enabler Program to make doing business in the Saudi tourism sector
easier and more cost-effective and enhancing our competitiveness,” Al-Khateeb
explained.
He continued: “Tourism license fees have been
restructured to better fit the specific needs and operations of each investor …
thanks to collaboration with government partners, we have reduced annual
government fees by nearly 22 percent.”
Furthermore, the minister recognized the
collaborative efforts of various stakeholders, including government partners,
global organizations like UN Tourism and the World Travel and Tourism Council,
the private sector, and investors, in achieving remarkable success in the
tourism sector.