{"id":88679,"date":"2024-08-13T00:00:00","date_gmt":"2024-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/13\/a-world-class-tourism-economy-saudi-style\/"},"modified":"2024-08-13T00:00:00","modified_gmt":"2024-08-13T00:00:00","slug":"a-world-class-tourism-economy-saudi-style","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/13\/a-world-class-tourism-economy-saudi-style\/","title":{"rendered":"A world-class tourism economy, Saudi style"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Spotlight on the Kingdom\u2019s ambitious USD 1 tn tourism initiative:<\/strong> Bloomberg is out with an interview with UN Tourism Special Advisor to the Secretary General, Anita Mendiratta, highlighting Saudi\u2019s USD 1 tn tourism initiative (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-08-12\/saudi-arabia-s-1t-bet-on-tourism-video\" style=\"\" rel=\"noopener\">watch, runtime: 7:53<\/a>). Mendiratta has also been holding an advisory board role in Alula since 2018. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cYou can't have this much consistent transformation if it's not real, this is real,\u201d<\/strong> said Mendiratta, adding that the government wants to make sure that \u201cvisitors to the Kingdom are enjoying international standards but Saudi style.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cDomestic and regional tourism is always the backbone,\u201d<\/strong> she said, highlighting that focusing on these segments ensures repeat visits and a year-round tourism economy. Some 80% of last year\u2019s record 100 mn tourists were made up of domestic and regional tourists, she added. While \u201cinternational tourists are important in terms of revenues and arrivals and international reputation,\u201d focusing solely on this type of tourism would result in greater tourist concentration during holiday periods and result in \u201cinstitutionalizing seasonality and institutionalizing labor challenges,\u201d Mendiratta noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> The new Investment Law also got ink in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-11\/saudis-reform-investment-law-in-bid-to-draw-in-more-foreigners\" style=\"\" rel=\"noopener\">the businesses news information<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-11\/saudis-reform-investment-law-in-bid-to-draw-in-more-foreigners\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-11\/saudis-reform-investment-law-in-bid-to-draw-in-more-foreigners\" style=\"\" rel=\"noopener\">service<\/a>. We have everything you need to know about the revamped legislation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/am\/2024-08-12\/3\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: A mention of the new Investment Law<\/p>\n","protected":false},"author":1,"featured_media":88680,"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":[2561],"tags":[10,110,31,243,229,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-foreign-direct-investment","tag-investment-watch","tag-legislation-watch","tag-saudi-in-the-news","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"0fb9dcc4-585c-4424-bf0f-10dad4c70b65","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1045.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A world-class tourism economy, Saudi style","related_issue":[88664],"teaser":"Plus: A mention of the new Investment Law","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.10f612b5-aea6-4263-8362-0ba0464c5a90.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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