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FINANCIAL NEWS
Investments in Saudi’s tourism sector to hit USD25b in next 10 years
08 Oct 2014
(MENAFN) Investments in the Saudi tourism sector are expected to register a growth worth over USD25.31 billion, during the next 10 years, Arab News reported.
This growth is mostly attributed to the continuous improvement in the hospitality and related sectors in Saudi Arabia as well as providing first class services to its guests in term of health services, security and some other relevant hospitality services.
During this year, the volume of investments in the Saudi Tourism and Travel Market (STTM) reached USD39.97 billion, of which USD26.65 billion from foreign tourists and USD39.97 billion are generated from domestic tourism, which registered a significant growth in its volume of spending, increasing from USD15.72 billion in 2010 to USD27.45 billion in 2014.
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