Saudi Arabia’s Ministry of Tourism took center stage at the 46th Annual NYU International Hospitality Investment Conference, showcasing the Kingdom’s extraordinary strides in the tourism sector and the wealth of investment opportunities available. This event offered Saudi Arabia a prominent platform to underscore its remarkable progress toward becoming a leading global tourism hub while diversifying its economy.
Keynote Address by Mahmoud Abdulhadi
Mahmoud Abdulhadi, Deputy Minister of Tourism Destination Enablement, delivered a compelling keynote address, emphasizing the Kingdom’s vast potential for tourism investment. He highlighted Saudi Arabia’s commitment to creating a premier global tourism destination, inviting international investors to capitalize on the lucrative opportunities. Abdulhadi stressed the Kingdom’s ongoing efforts to develop new destinations and infrastructure, making it an attractive proposition for global investors.
“Invest Saudi & Prosper in Tourism” Networking Lunch
The conference also featured the “Invest Saudi & Prosper in Tourism” Networking Lunch, hosted by the Ministry of Tourism. This session delved into Saudi Arabia’s investment potential under Vision 2030. Representatives from the Saudi Ministry of Tourism and Ministry of Investment provided insights into the transformation and growth within the tourism sector. They discussed the robust support for investors through the Tourism Investment Enablers Program (TIEP), which offers incentives and reduces barriers, facilitating easier and more cost-effective business operations.
Tourism Investment Enablers Program (TIEP)
A centerpiece of the discussion was the TIEP, designed to lower investment hurdles, cut government fees by 22%, and provide substantial incentives. This program includes the Hospitality Investment Enablers (HIE) initiative, which aims to attract USD 11.2 billion in private-sector investments and create 120,000 jobs in high-potential tourism areas. Such initiatives are positioning Saudi Arabia as a prime investment destination.
Fireside Chat with Gloria Guevara Manzo
Additionally, Gloria Guevara Manzo, Chief Special Advisor at the Ministry of Tourism, participated in a fireside chat titled “The Travel and Tourism Trends Driving the Market.” She explored emerging trends in global tourism, offering valuable insights for hospitality investors and stakeholders to shape their future strategies.
Saudi Arabia’s participation in the NYU Conference underscores its dedication to transforming its tourism landscape and inviting global investors to join in its Vision 2030 journey.
