Saudi Deputy Tourism Minister: Government Fees in Hospitality Sector Down 22% in 2024
Eng. Mahmoud Abdulhadi, deputy minister of tourism for destination enablement, revealed that the cost of government fees in the hospitality sector decreased by 22 percent in the current year. “The Tourism Investment Enablers Program (TIEP) is expected to contribute about SR16 billion to Saudi Arabia’s gross domestic product by 2030 in addition to enhancing tourism infrastructure and hospitality facilities in the Kingdom.
The program, launched by the ministry to support Saudi and foreign investors, seeks to attract private investments in the hospitality sector, amounting to about SR42 billion with creation of 120,000 new jobs by 2030,” he said while addressing a workshop organized by the Eastern Chamber of Commerce and Industry in cooperation with the Ministry of Tourism.
Badr Al-Ruzaiza, chairman of the Board of Directors of the chamber, was the moderator at the workshop titled “The Tourism Investment Enablers Program.” A large number of businessmen and investors in the tourism sector from the Eastern Province attended the workshop.
Abdulhadi said that the program supports hotel projects of all categories with a minimum of SR15 million, provided that it does not include the value of the land. It will also support new projects or projects under construction. The workshop reviewed the TIEP, which is the first of its kind in the Kingdom, supporting 10 targeted tourist destinations including Riyadh, Al-Baha, Taif, Al-Ahsa, Jeddah, Qassim, Hail, Asir, Dammam and Al-Jouf.
Addressing the workshop remotely, Eng. Saleh Al-Khabti, deputy minister of investment for investment operations, said the ministry has always been and is still working to connect investors with each other and empower them through many packages and programs that help them work in a good investment environment, and create many qualitative opportunities that stimulate investments with a good return on investment to contribute to the local product effectively and efficiently.
In his speech, Badr Al-Ruzaiza, chairman of the chamber, stressed that the Eastern Province is considered as a fertile and distinctive investment environment for investors in the tourism sector. He stressed that the Ministry of Tourism confirms its support for the tourism sector through the distinguished programs it provides, which aim to improve tourism services in the Kingdom in general and the Eastern Province in particular.
