Saudi Arabia plans to develop 320,000 hotel rooms by 2030, targeting 150 million tourists, with 72% in luxury, upper upscale, and upscale categories.
Saudi Arabia aims to develop 320,000 hotel rooms by 2030, with 72% of the market projected to be in luxury, upper upscale, and upscale categories. This move comes as the kingdom raises its projected tourist numbers to 150 million by the same year. The hospitality sector, which contributed to 6% of the country's GDP in 2023, is expected to meet the government's 10% target by the end of the decade.
April 24, 2024
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