Minister of Tourism: $500 billion expected investments in the sector over the next 15 years

Ahmed Al-Khateeb, Minister of Tourism, confirmed that the expected investments in the sector will reach $500 billion over the next 15 years, noting that the Kingdom will spend $100 million annually to train 100,000 young men and women in the tourism sector

He said during a session entitled “Future Trends for Local Content in Light of Saudi Vision 2030”, that tourism is one of the main sectors within Vision 2023, and they aim to increase the contribution of the tourism sector to the economy from 3% in 2019 to 10% by 2023

He pointed out that the year 2023 witnessed a surplus in the trade balance of the tourism sector for the first time, adding “The value of the investments that the Kingdom intends to pump into the tourism sector over the next 15 years is estimated at more than $500 billion.”