Minister of Tourism Ahmed Al-Khateeb and Minister of Investment Fahad Al-Saif announced projects expected to create over 17,000 jobs.
Saudi Arabia’s Ministry of Tourism and Ministry of Investment announced the first 19 projects approved under the Hospitality Investment Enablers (HIE) Programme at a joint event in Riyadh, with the projects expected to attract SAR6.7 billion in investment and create more than 17,000 jobs. The announcement was attended by Minister of Tourism Ahmed Al-Khateeb and Minister of Investment Fahad Al-Saif, highlighting efforts to expand hospitality capacity and encourage private-sector investment in the Kingdom’s tourism destinations.
The HIE Programme provides targeted support to accelerate private-sector investment in hospitality projects in selected destinations. Implemented by the Ministry of Tourism in cooperation with the Ministry of Investment, the programme aims to reduce operating costs for approved projects, improve their economic viability and make tourism investment opportunities more attractive.
Al-Khateeb said: “The Hospitality Investment Enablers Program reflects our long-standing commitment to enabling private-sector investment and responding to the Kingdom’s growing tourism demand.”
He added that expanding hospitality capacity would create investment opportunities, stimulate economic activity in tourism destinations and support sustainable tourism growth. He also highlighted the role of private-sector partnerships in developing projects that contribute to destination development.
Al-Saif said tourism was a priority under the National Investment Strategy because of its investment potential, contribution to economic diversification and role in increasing tourism’s contribution to gross domestic product (GDP), in support of Saudi Vision 2030.
“The Hospitality Investment Enablers Program is a model of government collaboration to develop enablers that strengthen private-sector participation, stimulate high-quality investment and develop the attractiveness of investment opportunities in promising tourism destinations,” he said.
The 19 approved projects span five tourism destinations and are expected to add more than 3,000 hotel rooms to Saudi Arabia’s hospitality supply. Around 40 per cent of the planned rooms will be in coastal destinations, supporting the Kingdom’s sun-and-sea tourism offering.
By 2030, the projects are expected to contribute more than SAR2.4 billion annually to GDP and generate over SAR5.3 billion in local content through demand for locally sourced goods, services and materials. Their wider economic benefits are also expected to extend to food and beverage, retail, entertainment and other visitor services, creating opportunities for local businesses.
The first project is scheduled to open by the end of 2026, with subsequent openings continuing until the final projects become operational in 2029. The additional capacity is intended to support tourism demand ahead of Expo 2030, the FIFA World Cup 2034 and other major international conferences and exhibitions.
Source: SPA
