Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- 'Domestic tourism set to boom'  Join our daily free Newsletter

MENAFN - Arab News - 13/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi arabia's tourism industry is set to boom in the next two years with the completion of multibillion-riyal hotel projects new local facility developments and the creation of thousands of jobs for citizens.

this is the view of prince sultan bin salman president of the saudi commission for tourism and antiquities (scta).

he spoke to arab news exclusively after recently receiving the arabian hotel investment conference leadership award in dubai in the presence of sheikh ahmed bin saeed al-maktoum chairman and chief executive officer of emirates airline.

prince sultan said there is currently tremendous growth in hotel developments particularly from first-time international investors. this is because the kingdom has a strong and stable economy based on the government adopting a long-term and "balanced" fiscal outlook.

'this year witnessed a real go for the scta following several decisions. the most significant for the tourism sector was the approval of the king abdullah bin abdulaziz cultural heritage project and support for the commission administratively and financially" he said.

prince sultan said the scta's main aim is to develop the domestic tourism sector because this is a major part of the market.

the scta was also providing for overseas visitors. 'the kingdom is never closed. millions of pilgrims visit every year and now the commission has started a post-umrah tourism program that allows pilgrims to tour the kingdom in collaboration with the ministries of interior foreign affairs and haj."

he said that this is in addition to providing services for those who attend conferences various exhibitions and who arrive to work in the country.

he said the kingdom plans to develop a wider variety of attractions including resorts different classes of hotels furnished apartments ecohotels and desert camps in various provinces. this includes al-ula hail al-thumamah al-qaseem al-dariah al-laith and asir.

a project under way is the sr17-billion al-aqeer development which will provide 1364 hotel rooms at a cost of sr900 million. other projects include the souq okaz development in taif red sea coastal projects and the al-hada center development.

prince sultan said the scta has faced many challenges in its attempt to turn the sector around. 'the journey was not easy and it did not start with the supervision of the hospitality sector in 2009. it was preceded by the ministry of commerce giving the commission a full development program in 2007."

the scta's restructuring of the hotel sector which has attracted foreign players included new licensing procedures reclassifying about 4000 hotels and furnished apartments in terms of quality and then setting and enforcing price controls said prince sultan.

these changes were introduced to meet the needs of investors and provide customers with quality services at affordable prices.

a new financing program introduced by the scta would also help grow the sector which has seen significant development over the past decade he said.

in march 2014 there were 3710 facilities including 1222 hotels 2488 furnished apartments and 29950 hotel rooms. more than 77 percent of the hotel investments were in makkah and madinah.

prince sultan said there would be massive growth in hotel projects over the next two years. high-quality hotel developments costing sr143.9 billion would be completed by 2020 he said.

a key objective is to provide jobs for citizens in the hospitality industry. there were 203000 saudi workers in direct and 126000 in indirect tourism jobs at the end of 2013. this is expected to grow to 1 million and 773000 respectively by 2020 he said.


 


Arab News




  MENA News Headlines
 Sep 16 2014 - Kuwait Stock Exchange Indices Close in GreenQatar News Agency
(MENAFN - QNA) Main indexes of the Kuwaiti bourse were in the green zone upon closing Tuesday with the weighted, the price, and the KSX 15 up by 1.1, 28.6, and 2.64 points respectively. Number ...

 Sep 16 2014 - Diplomatic Adviser to the King of Belgium Meets Qatar's AmbassadorQatar News Agency
(MENAFN - QNA) Diplomatic Adviser to the king of Belgium Pierre Cartuyvels met HE Qatar's Ambassador to the Kingdom of Belgium, Sheikh Ali bin Jassim Al-Thani. During the meeting, they discussed ...

 Sep 16 2014 - Real Estate Transactions Worth over QR684 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 7 and 11 for the real estate sales contracts registered at the Ministry of justice are worth QR684,139,324, the real estate registration ...

 Sep 16 2014 - Qatar University to Host Workshop for Young BoffinsQatar News Agency
(MENAFN - QNA) Qatar University's Al Bairaq programme will engage aspiring young scientists from high schools in workshops on nanotechnology and other scientific topics, the university said ...

 Sep 16 2014 - Qatar Expresses Concern over Expansion of Nuclear Power Reactors EstablishmentQatar News Agency
(MENAFN - QNA) The State of Qatar has stressed that the obsession with safety and security of potential nuclear accidents preoccupies the international community because of the long -term and ...

 Sep 16 2014 - Four Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Phase one to begin Dubai USD2.7b Parks projectMENAFN
(MENAFN) Dubai Parks & Resorts, a Meraas Holding company announced it has made significant progress on phase one of its multi-billion dollar entertainment and leisure destination in the emirate, ...

 Sep 16 2014 - Investcorp acquire USD250m US property propertiesMENAFN
(MENAFN) Bahrain's Investcorp, an alternative investment manager, announced it had acquired a portfolio of office and industrial property assets in three cities in the United States for around USD250 ...

 Sep 16 2014 - Dubai's RTA to invest USD544m in 2 projectsMENAFN
(MENAFN) Dubai's RTA announced it is planning to invest in the construction of two new road projects in the Creek area of the city in order to ease traffic congestion, Arabian Business reported.The ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help