Media Centre

Al-Khateeb: Tourism will become Saudi Arabia's "new oil" within a few years

RIYADH — Saudi Tourism Minister Ahmed Al-Khateeb confirmed that Saudi Arabia is rapidly moving toward establishing tourism as a fundamental pillar of the national economy. Attending a panel discussion at the Saudi-US Investment Forum in Riyadh on Tuesday, he said that the tourism sector will be equal to oil in its contribution to the gross domestic product (GDP) by 2030, thanks to comprehensive reforms and an ambitious strategy aimed at diversifying sources of income. "Tourism will become the Kingdom's "new oil" within the next few years," he said.

Al-Khateeb said that the percentage of tourism sector's contribution to GDP has now risen to five percent from three percent in 2019. "The target is to reach 10 percent by the end of the current decade, which will contribute to strengthening the national economy," he said.

The minister noted that since the launch of Vision 2030, the Kingdom has begun reforming the tourism sector by issuing easy and fast electronic visas for citizens from 50 countries, which have recently increased to 65 countries. Issuing a visa takes no more than five minutes, he said while emphasizing that this step was crucial in attracting visitors from around the world, whether for business, leisure, or religious pilgrimage.

Al-Khateeb underscored that the human element represents one of the tourism sector's most important strengths. "Promising, educated Saudi youth represent a distinguished presence for guests and visitors from around the world," he said.

The minister also referred to the unprecedented number of foreigners who visited the Kingdom over the recent years. "The number of visitors increased from 50 million domestic and international visitors in 2019 to 115 million last year, including 30 million visitors from abroad, placing the Kingdom among the top 10 most visited countries in the world," he said adding that the goal is to reach 50 million international visitors by 2030, making Saudi Arabia one of the top five most attractive destinations worldwide.

Al-Khateeb stated that Saudi Arabia is moving forward with implementing an ambitious vision, and that the speed of implementation is the key factor.