Saudi Arabia aims to attract 30 million pilgrims and 100 million tourists every year as part of its ambitious Vision 2030 economic reform plan

As part of its ambitious Vision 2030 economic reform plan, Saudi Arabia aims to draw in over 30 million pilgrims and 100 million visitors annually, a major investment forum has been informed. In addition to economic success and diversification, this transformation programme promises a cultural rebirth and heritage enrichment. At its core is the unrealized potential of the tourist sector.

As to the recently established ASFAR, the Saudi Tourism Investment Co., this strategy has drawn in both travellers and investors, transforming the country's image as a leading worldwide destination. The Public Investment Fund's recent creation of ASFAR has renewed the Kingdom's push for hospitality. ASFAR seeks to steer the tourist sector in a new direction and encourage its expansion.

Saudi Arabia's transition as a worldwide centre for visitors, culture vultures, and entertainment fans has been largely fueled by its spectacular landscapes, rich cultural history, and hospitality tradition, in addition to its bold initiatives. Saudi Arabia has strengthened its standing as a centre for investments. The tourist and hospitality sectors have seen a rise in standards due to the establishment of several worldwide hospitality brands, as well as local hotel chains and food and beverage networks.

Leading the way in advancing Saudi Arabia's tourist goals, ASFAR collaborates with both public and private sectors to fully realise the potential of the retail, F&B, hotel, and entertainment industries. These sectors form the core of Vision 2030's strategic objectives. The firm aims to improve the quality of life for both locals and tourists while sustainably supporting the country's economic diversification and job creation.

Saudi Arabia is making significant investments in the protection, development, and marketing of its historical traditions and cultural relics as a result of realising the enormous potential of heritage tourism. Through projects like Diriyah and AMAALA, which serve the Vision 2030 goals to boost ecotourism, adventure tourism, and wellness tourism, the Kingdom hopes to draw in tourists looking for entertainment.

Saudi Arabia is also making the most of its natural beauty by creating top-notch tourist attractions with contemporary facilities. Projects like NEOM and the Red Sea Project are prime examples of this since they prioritise environmental sustainability. According to figures from the UN World Tourism Organisation, Saudi Arabia ranked first among Arab countries for incoming tourists, with over 18 million visitors to the Kingdom in the first nine months of 2022.