RIYADH: The crown prince of Saudi Arabia has revealed or perhaps it’s more accurate to say, reiterated his ambitious plans for tourism in the gulf state.
In a public announcement this week, the 33-year-old claimed that by 2030 tourism will contribute 10 per cent of Saudi Arabia’s gross domestic product, a figure that would likely amount to over $100 billion and would make it one of the world’s top five tourism destinations.
The tourism drive began in 2017, when Mohammed bin Salman revealed his “Vision 2030” plan, a scheme devised to shift the nation’s economy away from its reliance on oil and towards other markets.
However, as the new decade looms, the national oil company Aramco is not only the main contributor to Saudi’s economy, its contribution is growing. KPMG estimates the Saudi oil industry will contribute 68 per cent of government revenue in 2019, up from 63 per cent in 2017.