Saudi Arabia plans to invest US$1trn (R15,6trn) in tourism over the next decade, according to a special report in Entrepreneur Middle East.
The country is looking to transform its economy from total reliance on oil, to diversify, create new jobs and reduce unemployment by shifting the focus to tourism.
The funds will help the state achieve its Vision 2030 tourism targets, which include seeing 100 million domestic and international visitors annually at tourism sites around the country by 2030.
By then, Saudi Arabia expects inbound tourism to be at least 10% of its GDP, which would mean a US$186bn (R2,9trn) tourism economy.
