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Saudi Arabia invests $400bln in tourism sector: Minister

Saudi Arabia has become a major global player in tourism, with the sector now contributing approximately 5% of the kingdom’s GDP and accounting for nearly 5% of total employment, said Ahmed Al-Khateeb, Minister of Tourism of the Kingdom of Saudi Arabia.

Speaking at the Forbes Middle East HUB at Davos, held on the sidelines of the World Economic Forum Annual Meeting 2026, Al-Khateeb said the sector contributed just 3% of the economy prior to the launch of Saudi Vision 2030.

The discussion focused on tourism as a strategic engine for economic growth, Saudi Arabia’s expanding role in shaping the global tourism agenda, and the importance of advancing international dialogue on sustainable growth, connectivity, and economic resilience amid ongoing global economic shifts.

He explained that tourism is one of the key drivers of economic diversification and resilience in Saudi Arabia, highlighting that the sector has created 250,000 new jobs over the past five years alone. Globally, he said, tourism contributes around 10% of global GDP and supports approximately 357 million jobs worldwide, including nearly one million jobs in Saudi Arabia.

The Saudi Tourism Minister also noted that the Kingdom is today the largest single investor in global tourism, with investments exceeding $400 billion dedicated to developing new tourism destinations, expanding aviation and airport infrastructure, and increasing hotel capacity from 550,000 rooms currently to between 600,000 and 650,000 rooms in the coming years. These efforts form part of Saudi Arabia’s preparations to host major global events, including Expo 2030 and the 2034 FIFA World Cup.

The interview, conducted by Mark Evans, also addressed the importance of integrating all elements of the tourism ecosystem and investing in national talent. Al-Khateeb emphasized that technology and artificial intelligence are enablers of the sector, not substitutes for human capital.

The conversation took place as part of the Forbes Middle East HUB at Davos, which features exclusive interviews and high-level discussions with regional and global leaders, policymakers, and representatives of key economic sectors.

The Forbes Middle East Platform at Davos is a strategic initiative aimed at supporting global dialogue across specialized economic fields by providing an independent space to explore perspectives and insights from ministers, CEOs, decision-makers, and innovators from around the world.

Through this initiative, Forbes Middle East seeks to strengthen its role in spotlighting global ideas and investments, discussing innovation and opportunities for international partnerships, and highlighting the contributions of regional countries to global economic transformation—particularly in sustainability, digital transformation, and sustainable growth financing. The platform also addresses critical issues including AI governance, the smart economy, the future of energy, cybersecurity, and innovation in healthcare.