SAUDI-MINISTRY-TOURISM
17.4.2024 19:52:32 CEST | Business Wire | Press release
The Saudi Ministry of Tourism is currently taking a prominent stage at the International Hospitality Investment Forum (IHIF), presenting a unique opportunity for global investors to dive into the thriving tourism landscape of the Kingdom. With the spotlight on the Tourism Investment Enablers Program (TIEP), that was recently announced, Saudi Arabia is aggressively pushing towards its Vision 2030 goal of being a top global tourism destination for investors and tourists alike.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417879947/en/
Mr. Mahmoud Abdullhadi, Deputy Minister of Destinations Enablement. (Photo: AETOSWire)
This strategic presentation comes at a time when Saudi Arabia's tourism sector celebrates an incredible milestone of 100 million visitors in 2023, seven years ahead of schedule, marking a significant stride towards economic diversification and emphasizing the sector's growing contribution to the national GDP. The flagship Hospitality Investment Enablers (HIE), one of TIEP’s initiatives, aims to leverage this momentum, planning an investment infusion into the hospitality sector of up to SAR 42 billion in key destinations, which alone is anticipated to create 120,000 new jobs by 2030.
The IHIF audience is getting a close look at Saudi Arabia's plans to expand its accommodation capacity dramatically. The Kingdom is targeting an increase in hotel rooms to over 500,000 and aiming to welcome 150 million visitors annually by 2030. The HIE stands at the core of these ambitions, designed to energize the hospitality sector by introducing a new wave of supply in targeted tourism hotspots, significantly enriching the Kingdom's diverse tourism offerings.
The initiative is supported by a suite of strategic enablers, including access to government-owned land under favorable terms, streamlined project development processes, and regulatory adjustments aimed at reducing barriers to market entry and operational costs. This comprehensive approach is expected to catalyze a significant socio-economic transformation within the Kingdom, with private sector investments projected to reach SAR 42.3 billion and a forecasted annual GDP increase of SAR 16.4 billion by 2030.
Saudi Arabia’s active participation in IHIF aims to showcase the Kingdom as an enticing investment frontier for international investors, emphasizing the lucrative opportunities within the tourism and hospitality sectors. This global stage provides the perfect platform for the Ministry of Tourism to forge lasting partnerships and highlight the Kingdom's commitment to elevating its tourism industry standards, fostering sustainable growth, and offering robust support to investors.
Through this engagement, the Saudi Ministry of Tourism is not just showcasing investment opportunities; it is inviting the world to be a part of Saudi Arabia's ambitious journey towards redefining global tourism norms. Investors are encouraged to seize this unparalleled chance to collaborate with the Kingdom, as it paves the way for a new era of tourism excellence aligned with Vision 2030's transformative objectives.
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240417879947/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Freedom Holding Corp. Works With Ant International’s Antom to Simplify Online Shopping From China for Kazakhstan Consumers23.7.2026 07:30:00 CEST | Press release
Freedom Bank SuperApp to be promoted as a payment option on China’s leading e-commerce platforms through Antom On July 16, 2026, during a meeting between Timur Turlov, CEO of Freedom Holding Corp., and representatives of the global fintech market, the bank signed Memoranda of Understanding with Antom, a leading merchant payment and digitisation services provider under Ant International. The primary goal of this partnership is to develop innovative solutions to facilitate cross-border payments for consumers in Kazakhstan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722367119/en/ From left to right: Timur Turlov, CEO of Freedom Holding Corp., Leiming Chen, Senior Vice President and Chief Sustainability Officer of Ant International Antom will promote Freedom Bank SuperApp as a supported payment option on China’s leading e-commerce platforms. This move aims to create a seamless cross-border online shopping experience, allo
Galderma Reports Record First Half 2026 Net Sales of 3.134 Billion USD and 24.6% Year-on-Year Growth at Constant Currency, Raises Net Sales Guidance for the Full Year23.7.2026 07:00:00 CEST | Press release
Ad hoc announcement pursuant to Art. 53 LR Galderma Group AG (SIX: GALD), the pure-play dermatology category leader, today announced its financial results for the first half of 2026. Net sales reached 3.134 billion USD, surpassing 3 billion USD for the first time in the first six months of the year and representing net sales growth of 24.6% at constant currency1. Broad-based, double-digit growth in both International markets and the U.S. as well as in all product categories, primarily driven by volume and complemented by favorable mix. Outperforming the market in each product category, with net sales growth year-on-year at constant currency of 12.1% in Injectable Aesthetics, 16.4% in Dermatological Skincare, and 67.9% in Therapeutic Dermatology. Demonstrating leadership in dermatology through ongoing geographic expansion and differentiated innovation, including Nemluvio® (nemolizumab), which generated 433 million USD in net sales, Relfydess™ (RelabotulinumtoxinA), which continues to ra
ATOZ Services Announces Strategic Growth Investment from Bregal Sagemount23.7.2026 06:30:00 CEST | Press release
Investment will support geographic expansion, AI investment and continued growth across ATOZ Services’ fund services platform ATOZ Services (The “Company”), an independent Luxembourg-based fund services platform, today announced that the Company will accelerate its strategic move to continue its international expansion and acquisition-based strategy through a growth investment from Bregal Sagemount (“Sagemount”), a leading growth-focused private equity firm. Sagemount has entered into a partnership with ATOZ Group and ICG that will see Sagemount become the majority shareholder of the Company, while ATOZ Group and ICG retain a minority stake, subject to regulatory approval and other customary procedures. The investment will support the Company’s continued development as an international fund services platform. Founded in 2018 as part of the ATOZ Group, ATOZ Services provides fund-linked special purpose vehicle (“SPV”) services, fund administration, and fund governance, risk and complian
Airship Announces Results Guarantee; Releases Commissioned Study Finding 476% ROI for Composite Organization22.7.2026 17:00:00 CEST | Press release
Airship stands behind results with new guarantee offer*; also launches a commissioned study quantifying how a composite organization moved past vanity metrics to drive $7.3M in value Airship, the mobile-first customer experience platform leader, today announced its Airship Results Guarantee, a corporate commitment to achieve predetermined business outcomes for new customers. Concurrently, the company released the results of a separate, commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Airship, July 2026. The study found that a composite organization based on interviewed customers achieved a 476% Return on Investment (ROI) with a payback period of less than six months. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722832535/en/ Airship has launched a new results guarantee offer to stand behind its value. Alongside this offer, the team shared the results of a new Total Economic
Arrakis Comes out of Stealth With $38M to Help Industrial Enterprises Compete in the AI Era22.7.2026 15:56:00 CEST | Press release
Funding led by Blossom Capital with participation from Accel, GFC, MainObject, and Rerail, bringing total raised to around $38 million in just six months. Arrakis helps industrial companies deploy AI agents into mission-critical operations, tackling the "last mile" challenge that prevents most AI projects reaching production. The funding will enable office openings in New York and the Middle East, platform development and AI deployment in the world's most operationally complex industries. Arrakis, the AI deployment company helping industrial companies install AI agents for mission-critical operations, today announced a $30 million Series A led by Blossom Capital, with participation from existing investor Accel, which also led the company's $7.5 million seed round. The round brings total funding to around $38 million and includes backing from prominent technology leaders, including Olivier Pomel, founder and chief executive of Datadog, Olivier Godement, OpenAI’s Head of business product
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom