The Saudi hospitality sector is growing by 13.5% annually over 5 years

Media In – Dubai February 5, 2018

The hospitality sector in Saudi Arabia is experiencing many reforms and investments over the next five years at a compound annual rate of 13.5%.
According to a study prepared by Colliers International, the official partner of the Arabian Travel Market, MediaIn said that religious tourism in the Kingdom constitutes the bulk of the demand. The Kingdom has seen the opening of 30,000 new rooms in 2017, 40,000 rooms in 89 projects under construction.
Simon Bryce, Senior Manager, Arabian Travel Market (Forum 2018), which takes place at the Dubai World Trade Center from April 22-25, said that recent reforms and new visa laws to enter Saudi Arabia will contribute significantly to the hospitality and hospitality sector.
Saudi Arabia announced last year that it is seeking to expand the leisure tourism sector by targeting 30 million visitors a year by 2030. As a result, 2018 will be awarded the first tourist visas for international travelers.
It has also announced a series of new entertainment projects in recent months, including the establishment of the Six Flags Park in Riyadh by 2021, and the Red Sea Resort, which will include a range of hotels, accommodation and transportation, will provide 35,000 jobs