Tourism to contribute 15% to Saudi $1.86trln economy by 2030

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RIYADH: Saudi Arabia sees tourism leading to contribute more to its GDP by 2030, which is predicted to hit $1.86 trillion, as it plans to move away from oil.

The Kingdom, which plans to generate income streams from non-oil sectors, will invest in tourism in order to attract 100 million visitors a year and see the sector contributing up to 15 percent of the GDP.

“By 2030 the aim is to have 500,000 hotel keys, most of it will be new, and 100 million visits per year,” investment minister Khalid Al-Falih said, adding that this will cover “religious tourism which is quite substantial as well as domestic tourism and international tourism.”

Speaking at an investment forum in Riyadh with Greek ministers, Al-Falih added that the Kingdom's National Investment Strategy will launch direct investment opportunities worth $3.27 trillion until 2030.