Prince Sultan Bin Salman highlights KSA’s tourism potential at Travel and Tourism Investment Forum

“Saudi’s tourism industry is currently passing through a transitional stage following the approval of the cabinet to reform the sector,” said His Highness Prince Sultan bin Salman bin Abdul-Aziz, the Secretary General of the Higher Tourism Commission during an open meeting with tourism investors. The meeting was held on the fringes of the first Saudi Travel and Tourism Investment Market (STTIM) in Riyadh.

During the meeting, Prince Sultan bin Salman stressed on the importance of tourism in contemporary economies, noting that the contribution of the tourism sector to the national economy amounts to approximately 8.8 percent of the Kingdom’s Gross National Product (GNP).

According to recent studies, the year 2007 exceeded expectations for international tourism with arrivals reaching new record figures close to 900 million and supporting more than 220 million jobs. The Middle East region totaled 46 million international tourist arrivals last year. The region, according to His Highness is emerging as a strong destination with visitor numbers climbing much faster than the world total, with Saudi Arabia and Egypt among the leading destinations in growth in 2007.

“Tourism sector is of great importance to Saudi Arabia. I see the future of the tourism sector in the Kingdom as bright and promising, and the opportunity to create jobs is enormous. According to our records, the industry is expected to create between 1.5 and 2.3 million job opportunities by the year 2020.”

HH indicated that the commission is introducing new initiatives and plans to attract investment to this sector, “We are actively working with the Higher Economic Council and the Council of Ministers to encourage the adoption of a number of resolutions in support of national tourism such as the General Tourism Law, and establishing tourism development councils and trade associations. We need to organize and regulate this sector to enable the emergence of new sectors and attract new investment opportunities.”

He also advised investors to focus on local tourism industries because it is fruitful and profitable, arguing for the need to promote tourism culture among Saudis and to combine the economic benefit generated from the tourism sector with the Arab heritage and values.