{"id":85348,"date":"2024-04-21T00:00:00","date_gmt":"2024-04-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/21\/saudi-tourism-sees-strong-1q-despite-rising-tensions-in-the-region-says-minister\/"},"modified":"2024-04-21T00:00:00","modified_gmt":"2024-04-21T00:00:00","slug":"saudi-tourism-sees-strong-1q-despite-rising-tensions-in-the-region-says-minister","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/21\/saudi-tourism-sees-strong-1q-despite-rising-tensions-in-the-region-says-minister\/","title":{"rendered":"Saudi tourism sees strong 1Q despite rising tensions in the region, says minister"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi\u2019s tourism sector has seen a strong 1Q 2024 despite rising geopolitical <\/strong><strong>tensions<\/strong>, Tourism Minister Ahmed Al Khateeb told Bloomberg TV in an interview (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-19\/saudi-arabia-hopes-to-grow-tourism-as-tensions-grow\" style=\"\" rel=\"noopener\">{<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-19\/saudi-arabia-hopes-to-grow-tourism-as-tensions-grow\" style=\"\" rel=\"noopener\">watch: runtime: 12:31<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-04-19\/saudi-arabia-hopes-to-grow-tourism-as-tensions-grow\" style=\"\" rel=\"noopener\">}<\/a>). \u201cWe have seen a double digit growth in the first quarter of the year compared with the first quarter last year,\u201d he said on the booming sector despite heightened escalations in the region. \u201cThe escalations in the region are not good for everyone, therefore Saudi\u2026is stepping in this situation and trying to contain the situation with its neighbors,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crossing fingers for a short-lived conflict: <\/strong>\u201cThe tension in the region is very serious, we hope it is for the short term,\u201d Al Khateeb said. \u201cWe are monitoring the situation closely, to make sure that 2Q and the short term will not be impacted. However,<strong> in the medium and long term, we are very optimistic<\/strong>,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Robust growth in 2023: <\/strong>\u201cLast year was a very strong year for the Kingdom. We were the highest growing country among all G20 countries with 56% y-o-y growth [in tourist arrivals],\u201d he said. Half of arrivals were religious trips, while the remainder came here to engage in business, sports, leisure and hospitality, the minister said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The ministry recently doubled its target for 2030<\/strong>, hoping now to be host to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a35151a1-033e-49d7-85a5-bbe29bf3da9b\/it%25e2%2580%2599s-day-2-at-leap-2024,-deepfest-and-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">150 mn tourist<\/a> trips after it hit its target last year ahead of schedule. The new 2030 target sees 80 mn by domestic travelers and 70 mn by international travelers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tourism is seeing the government spending big: <\/strong>The government is injecting some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8ee2e54a-81c2-4d59-9087-99dc7d49d63d\/it%25e2%2580%2599s-the-second-day-of-the-saudi-capital-market-forum\" style=\"\" rel=\"noopener\">USD<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8ee2e54a-81c2-4d59-9087-99dc7d49d63d\/it%25e2%2580%2599s-the-second-day-of-the-saudi-capital-market-forum\" style=\"\" rel=\"noopener\">800 bn<\/a> into the sector under plans to build new future destinations, including Neom, The Red Sea, Diriyah and Qiddiyah among others, he said. The private sector, supported by the Tourism Development Fund, is pouring investments to build new hotels, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives for foreign investors in the sector: <\/strong>\u201cWe are trying to make Saudi Arabia the easiest and most cost-efficient [in which] to do business,\u201d Al Khateeb said. He said the government is providing incentives such as access to land, debt, funding, and easing regulations to lure in investors who are \u201cseeking a good return, with a low-risk commitment from the government\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The ministry unveiled a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a35151a1-033e-49d7-85a5-bbe29bf3da9b\/it%25e2%2580%2599s-day-2-at-leap-2024,-deepfest-and-efg-hermes-one-on-one\" style=\"\" rel=\"noopener\">new tourism investment program<\/a> last month to facilitate doing business and attracting local and foreign investors. The Tourism Investment Enablers Program (TIEP) includes regulatory reforms for tourism licensing depending on type and scale of operations and reduced fees. It aims to lure in investments of up to SAR 42 bn (c. USD 11 bn) with inflows of SAR 16 bn to GDP by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An alcohol ban is not driving tourists away: <\/strong>\u201cAlcohol is important but we decided not to offer it, and so far people are coming, they are exploring Saudi and coming for business, coming for leisure, coming for religious reasons,\u201d he said when asked about whether serving alcohol would be a game changer for the Kingdom\u2019s tourism. \u201cThey have not complained, they are enjoying other offerings like the food, retail, hospitality, the culture, and I hope this will continue,\u201d he said. \u201cOut of the 1.4-1.5 bn travelers [visiting the Gulf], I\u2019m very sure we will find, at least in the mid-term, 70 mn people who will travel without asking for alcohol,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Saudi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f0d3cbf-df24-43c0-92f9-50f3042697c4\/it%25e2%2580%2599s-the-first-official-issue-of-enterpriseam-saudi\" style=\"\" rel=\"noopener\">opened in January<\/a> its first alcohol shop in over 70 years exclusively for non-Muslim diplomats, signaling relaxed restrictions to make the Kingdom a more tourist-friendly destination. The government said the move came under efforts to counter the illegal trade of alcohol. Pundits expect officials to allow a slow rollout to select hotels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi eyes hosting 150 mn tourist trips by 2030 after it hit its target last year ahead of schedule<\/p>\n","protected":false},"author":1,"featured_media":85349,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2624],"tags":[922,10,7,921],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-ahmed-al-khateeb","tag-enterpriseam-ksa","tag-tourism","tag-tourism-ministry","wpautop","entry"],"acf":{"mongo_id":"6a863685-efd5-46a2-83b2-38a6a11c0a59","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1382.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi tourism sees strong 1Q despite rising tensions in the region, says minister","related_issue":[85339],"teaser":"Saudi eyes hosting 150 mn tourist trips by 2030 after it hit its target last year ahead of schedule","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.b9192281-ce17-4366-90d2-c01a62600536.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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