Mahmoud Abdulhadi, Saudi Arabia's deputy minister of tourism for destination enablement, highlighted the country's potential for investors in the tourism sector.

The Hospitality Investment Enablers (HIE) initiative aims to draw SR42 billion ($11 billion) in private investments and create 120,000 new jobs by 2030.

The flagship HIE, part of the Tourism Investment Enablers Program (TIEP), is projected to contribute SR16 billion ($4 billion) to Saudi Arabia's GDP and improve tourism infrastructure and hospitality facilities by 2030.

Abdulhadi, the deputy minister of tourism in Saudi Arabia, discussed the Hospitality Investment Initiative (HIE) at the World Travel Market in London.

The HIE is part of the Tourism Investment and Expansion Program (TIEP) under Vision 2030 and aims to enhance Saudi Arabia's position as a global tourist destination and create investment opportunities.

The initiative intends to increase and diversify tourism offers and improve tourist hospitality facilities.

Abdulhadi met with international investors to showcase the Kingdom's offerings within the TIEP. The HIE is backed by strategic enablers such as favorable land access, streamlined project development, and regulatory adjustments to reduce market entry and operational costs.

The text discusses an initiative in Saudi Arabia to increase hotel rooms by around 42,000 and create about 120,000 jobs by 2030.

The country is participating in the International Hotel Investment Forum (IHIF) to promote itself as an attractive investment destination, particularly in the tourism and hospitality sectors.

The ministry is using this global platform to form partnerships, raise industry standards, and encourage sustainable growth.

The goal is not only to showcase investment opportunities but also to invite the world to join Saudi Arabia's efforts to redefine global tourism norms.

The Kingdom is inviting investors to collaborate on tourism projects, aligning with its Vision 2030 goals.

In 2023, the tourism sector saw significant growth with over 106 million tourists and SR135 billion in foreign spending, surpassing a vision goal early.

The Ministry of Tourism's involvement comes as the sector aims to increase hotel rooms to over 500,000 and host 150 million tourists annually, revitalizing the hospitality sector and enhancing regional diversity in tourism.

The text suggests that investing in the Kingdom offers local entrepreneurs the chance to be part of the tourism industry's expansion and enjoy the economic advantages that come with it.