Tag Archives: 362k hotels by 2030

The Kingdom of Saudi Arabia is poised to develop 362,000 new hotel rooms by 2030 as part of its US$110 billion hospitality sector transformation, according to data released ahead of the 2025 edition of the Future Hospitality Summit (FHS) Saudi Arabia. Saudi Arabia’s ongoing and unprecedented expansion across infrastructure, real estate, tourism, and hospitality, in line with Vision 2030, is positioning the Kingdom as a global leader in the travel and tourism sector. This strategic growth is setting new industry standards while creating significant investment opportunities, enabling investors to actively participate in the country’s long-term economic transformation, according to industry experts. Oussama El Kadiri, Partner – Head of Hospitality, Tourism and Leisure at Knight Frank, said: “Fueled by ambitious Vision 2030 goals, Saudi Arabia’s tourism sector presents a compelling investment landscape, evidenced by its record-breaking SAR 444.3bn GDP contribution in 2023, accounting for 11.5% of the national economy. This growth reflects the Kingdom’s strategic initiative to position itself as a leading global tourism destination. The sector’s rapid growth is further evidenced by the increase in international arrivals, which reached 30 million in 2024, up from 27.4 million in 2023. This upward trajectory, coupled with a strong investment pipeline, supports Saudi Arabia’s goal of attracting 70 million international visitors annually by 2030. El Kadiri further emphasized the impact of upcoming global events on Saudi Arabia’s economic transformation. Major international events, such as the 2029 Asian Winter Games, World Expo 2030, and the FIFA World Cup 2034, are expected to drive further growth in tourism, hospitality, and related industries. These events will not only increase visitor numbers but also enhance Saudi Arabia’s global reputation as a premier destination for leisure, business, and mega-events. …

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