Saudi Arabia’s Ministry of Tourism and Ministry of Investment have approved the first 19 projects under the Hospitality Investment Enablers Program, which are expected to unlock SR6.7 billion in investment and create more than 17,000 jobs.
The projects span five tourism destinations and will add more than 3,000 hotel rooms, the Saudi Press Agency reported on Monday. About 40% of the planned rooms will be in coastal destinations.
Minister of Tourism Ahmed Al-Khateeb and Minister of Investment Fahad Al-Saif attended the announcement at a joint event in Riyadh.
Under the program, the tourism ministry offers targeted incentives, in cooperation with the investment ministry, to speed up private-sector investment in hospitality projects in selected destinations. The incentives are designed to cut operating costs for approved projects.
By 2030, the projects are expected to contribute more than SR2.4 billion a year directly to gross domestic product and more than SR5.3 billion to local content through demand for locally sourced goods, services and materials.
The first project is scheduled to open by the end of 2026. The remaining projects are due to become operational in stages, with the last ones set to open in 2029.
“By expanding hospitality capacity in high-potential destinations, we are doing more than adding rooms. We are unlocking new investment opportunities,” Al-Khateeb said.
Al-Saif said tourism is a priority sector under Saudi Arabia’s National Investment Strategy.
The kingdom is adding hotel capacity ahead of Expo 2030 in Riyadh and the FIFA World Cup in 2034.
