Saudi launches $13 billion plan to turn Aseer coastal region into tourism hub

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Saudi launches $13 billion plan to turn Aseer coastal region into tourism hub

On Tuesday, the Crown Prince of Saudi Arabia, Mohammed bin Salman, had rolled out a $13 billion program to metamorphosize the Aseer region on the Red Sea Coast into a tantalizing tourism hub that is expected to entice as many as 10 million visitors a year by 2030, illustrating a bump-up in efforts from the oil-dependent Kingdom’s Crown Prince to diversify the economy.

Aside from that, shortly after the announcement, Saudi’s state news agency SPA was quoted saying that the proposed $13-billion tourism hub on Red Sea Coast was aimed at developing a tourist spot in the country’s remote & mountainous areas while stepping up services alongside infrastructure such as transport alongside healthcare.

Saudi rolls out $13 billion plan to turn coastal region into tourism hub

Saudi Arabia had opened up its doors to foreign travellers through a new visa scheme back in the September of 2019 aimed at branching out its economy as beforementioned, as tourism accounted for nearly a 10 per cent of entire GDP (Gross Domestic Product) in the Gulf Arab state.

Nonetheless, although, a pandemic outbreak that had markedly hammered down Saudi’s tourism industry shortly after introducing a new visa plan targeted to attract more foreign holidaymakers, had still been weighing heavily on the economy despite a multi-year high crude oil prices, a number of local campaigns had reportedly helped the economy shelve millions of dollars that Saudi nationals used to spend overseas.

Concomitantly, Saudi’s latest plan to turn the Red Sea Coast into a global tourism hub by 2030, comes over the heels of a similar $3-billion venture in Aseer region that the Kingdom’s PIF (Public Investment Fund) had launched earlier this year aimed at building as many as 30 commercial and entertainment attractions by 2030.