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Saudi Arabia plans to add 250,000 hotel rooms by 2030, with 75,000 of these to be contracted out to the private sector, according to the kingdom’s Minister of Tourism.
Ahmed Al-Khateeb made the announcement while speaking at Riyadh’s Private Sector Forum, organised by Saudi’s sovereign wealth fund, the Public Investment Fund (PIF)..
The number of hotel rooms in Saudi Arabia reached 280,000 in 2023, according to data shared by Al-Khateeb at a ministerial panel, with the total room expected to reach 550,000 by 2030.
Earlier, the kingdom had revised its tourism target to 150 million by 2030, up from 100 million, which Al-Khateeb said had already been achieved in 2023, comprising 77 million domestic and 27 million international visitors.
In October, Al-Khateeb revealed that the kingdom was investing more than $800 billion in the tourism sector, through giga projects such as the Red Sea tourism development, the Diriyah and Qiddiya master plans, and other private projects in various regions of the country.
According to Al-Khateeb, approximately 12 resorts on the Red Sea are set to open by 2025, while earlier this week, Dubai-based luxury hotelier Jumeirah Group opened its first property in Saudi Arabia.
The Jumeirah Jabal Omar Makkahm is a 1,112-key property, which is a part of the second phase of the city’s flagship Jabal Omar master plan, which includes 46 towers spread across hospitality, commercial and residential developments.
Saudi’s Vision 2030 plan also includes a $7.8 billion investment in its mega Expo 2030 event in Riyadh.
(Writing by Bindu Rai, editing by Daniel Luiz)
