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Saudi Arabia to invest $500bn in tourism projects – SCTH

Saudi Arabia to invest $500bn in tourism projects – SCTH
The kingdom will see large developments in the tourism sector during the coming period

Riyadh – Mubasher: A slew of Saudi state-run institutions have announced tourism projects with investments worth around $500 billion, Saudi Commission for Tourism and National Heritage’s (SCTH) president Sultan bin Salman said.

These projects will be located in the Red Sea coast, Al-`Ula, Qiddiya, the Saudi capital of Riyadh, Jeddah, Diriyah, Uqair, Ta'if, Asir, Al Bahah, and Jizan, in addition to some investments in collaboration with the Public Investment Fund (PIF), bin Salman added.

The kingdom will see large developments in the tourism sector during the coming period in a bid to boost the contribution of this sector into the Saudi economy.

Over the previous two years, SCTH and the tourism sector have received large funding, especially from the PIF, the official noted, adding that the GCC nation will establish companies and destinations that focus on tourism investments.