The Kingdom has approved 19 hospitality projects expected to attract SR6.7bn in investment, creating more than 17,000 jobs and adding over 3,000 hotel rooms across five tourism destinations.
The projects form the first approved batch under the Kingdom’s Hospitality Investment Enablers (HIE) Program, announced jointly by the Ministry of Tourism and the Ministry of Investment at an event in Riyadh.
The first project is scheduled to open by the end of 2026, with further openings planned through 2029 as Saudi Arabia expands its tourism infrastructure ahead of Expo 2030 and the FIFA World Cup 2034.
The 19 approved projects are expected to generate an annual direct contribution of more than SR2.4bn to Saudi Arabia’s GDP by 2030.
They are also projected to contribute more than SR5.3bn to local content by generating demand for locally sourced goods, services and materials.
The programme is designed to accelerate private-sector investment in hospitality developments across selected tourism destinations by reducing operating costs for approved projects.
Approximately 40 per cent of the planned hotel rooms will be located in coastal destinations, supporting the Kingdom’s sun-and-sea tourism offering.
The ministries said the investments would also create opportunities for businesses in food and beverage, retail, entertainment and other visitor-focused services.
