Research reveals a major hospitality expansion is underway in Saudi Arabia as the country looks to attract 150 million visitors by 2030.
Saudi Arabia plans to expand its hospitality sector by building 320,000 new hotel rooms to cater to surging tourism demand by 2030, a new report by property consultancy Knight Frank revealed.
Currently, 66 per cent of existing hotel supply in the Kingdom falls into the “luxury, upper upscale and upscale” categories, the firm said. However, this market segment will expand even further to make up for 72 per cent – equivalent to 251,500 hotel rooms.
“With a target of welcoming 150 million visitors by 2030 – a 50 per cent increase from its previous goal – the government is actively exploring various strategies to attract international travellers,” said Turab Saleem, Partner and Head of Hospitality, Tourism and Leisure Advisory, MEA, at Knight Frank.
These strategies include various cultural and entertainment offerings across the country which complement existing attractions such as the Jeddah F1 Grand Prix, Entertainment Seasons and several theme parks, she added.
