Saudi tourism revenue hikes to SAR 61.8 billion
Tourism could be really effective in giving rise to any country’s economic position. By the end of the year 2012, the calculations were made and as compared to 2011, the Kingdom of Saudi Arabia saw an increase of 10 percent in its tourism revenue. This made an incredible sum of SAR 61.8 billion and the tourism companies there are now devoted to invest into the opportunities at hand to further heighten the economy of the country. The targeted market’s main interest is the religious travels to the country during the Hajj and Umrah season, achieving a target of SAR 67.8 billion by the end of 2016.
The tourism sector of the Middle Eastern region holds a remarkable share in the global market and among these countries Saudi Arabia alone contributes 46 percent to it. Youssef Abdul Latif Jameel, Chairman of Abdul Latif Jameel Real Estate Investment Company (ALJREIC), said: “The Kingdom is seeing massive investments and expansion projects in a strong attempt to attract larger number of tourists and visitors to the country. One of the many major projects is the expansion of King Abdul Aziz International Airport which is poised to accommodate up to 80 million travelers by 2035.”
Jameel elaborated the significance of the upcoming projects including Jabal Al Ka’aba that revolves around the development of the holy cities of Makkah and Medina and meeting an on-growing demand of the hotels particularly.
Moreover, the chairman confirmed ALJREIC participation in ATM 2013 where the company will showcase the flagship hotel of Anjum Hotels in Makkah, adding on 1743 rooms and suits. This too comes under Jabal Al Ka’aba project. By Q3 2013, the doors of the hotel will be open for its guests.
The directives of ‘Saudi Commission for Tourism and Antiquities’ (SCTA) to expand the tourism industry and meeting its increasing demands, was further appreciated by Jameel. He also underscored the schemes underwent by the government to stimulate the role of private sector in the economic growth of KSE.