Frankly Speaking: Kingdom needs to inject $200 billion into industry, says Saudi Tourism Minister

In the latest episode of Frankly Speaking, Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb spoke to Arab News’ Frank Kane about the Kingdom’s ambitious plan to become one of the world’s top tourist destinations. (AN Photo)
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Updated 01 March 2021
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Frankly Speaking: Kingdom needs to inject $200 billion into industry, says Saudi Tourism Minister

  • Al-Khateeb quashed claims that the Kingdom’s target of obtaining 100 million visits by 2030 are “overambitious”
  • Al-Khateeb added that there are lucrative investment opportunities in Saudi Arabia’s tourism industry, especially for those who get ahead of the rest

RIYADH: In the latest episode of Frankly Speaking, Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb spoke to Arab News’ Frank Kane about the Kingdom’s ambitious plan to become one of the world’s top tourist destinations.

Al-Khateeb quashed claims that the Kingdom’s target of obtaining 100 million visits by 2030 are “overambitious.” He also invited investors to join the country’s bid in injecting $200 billion by 2030 to help build what he described as a “virgin sector” where first movers will benefit tremendously.

“We opened our doors and hearts to international tourists to come and explore Saudi Arabia and experience Saudi Arabia, and experience our culture, our nature, our pristine and great beaches of the Red Sea or the East Coast and our major cities. Therefore, you know we believe we can get a big share of the 1.4 billion tourists who traveled back in 2019,” he said.

“Our target is indeed ambitious. However, we have everything we need to achieve our target.”

When asked whether alcohol would be permitted in the region given its popularity among tourists, Al-Khateeb said that extensive research showed that “40 to 50 percent of travelers would travel to destinations that do not offer alcohol.”

He added: “We have a lot to offer other than alcohol. There is a lot to improve, be it in hospitality, culture, food and luxury, and therefore we will be competing on other things that tourists are traveling for,” the minister said.

“I believe you know our destinations at mainly the Red Sea will be positioned among the best destinations globally by 2030 and people will definitely experience them, even if we don’t offer alcohol.”

Regarding women’s swimsuits, Al-Khateeb said that private beaches do allow women to wear swimsuits freely, while public ones will maintain a dress code “similar to that of other countries”.

Al-Khateeb added that there are lucrative investment opportunities in Saudi Arabia’s tourism industry, especially for those who get ahead of the rest.

“This is a virgin sector. We just opened the sector and the first-mover advantage is going to be huge.

“We need to inject about $70 billion until 2023 and more than $200 billion by 2030 to fill the gap in the offering, whether in retail, hospitality or in recreation. Therefore we have been sharing our story with the world,” he said.

During the interview, Al-Khateeb was asked how the kingdom intends to respond to criticisms and calls for boycott in some international media outlets. He responded by inviting tourists to travel to the Kingdom and experience Saudi Arabia, to witness the changes that have taken place as part of Vision 2030.

“I believe the best thing to do is to come and experience how people live here and see how the 9 million expats living in Saudi Arabia enjoy it with their families,” he said.

Watch below: Frankly Speaking Extra with Mahmoud Abdulhadi, senior advisor on investment attraction at the Ministry of Tourism, and Sarah Al-Husseini, the ministry's general director of international cooperation:


University of Hong Kong hosts the first Saudi Economic Forum to boost China–Saudi ties

Updated 17 December 2025
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University of Hong Kong hosts the first Saudi Economic Forum to boost China–Saudi ties

  • The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration

RIYADH: The University of Hong Kong (HKU) has hosted the first-ever Saudi Economic Forum in Riyadh, bringing together nearly 100 senior officials, academics, and business leaders to deepen cooperation between China and Saudi Arabia in education, innovation, and economic growth.

Held under the theme “Enhancing the Global Competitiveness of Chinese and Saudi Institutions,” the forum marked a significant milestone in advancing strategic alignment between China’s Belt and Road Initiative and Saudi Vision 2030.

The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration, with participants exploring joint opportunities in investment, technology, renewable energy, and artificial intelligence.

Professor Hongbin Cai, dean of the faculty of business and economics at HKU, said the university aspires to become a “knowledge bridge” between the two nations, leveraging its global standing and extensive international networks. He noted that educational collaboration would be a cornerstone of the Saudi–Chinese partnership.

Saudi Arabia’s Assistant Deputy Minister of Investment, Fahad Al-Hashem, emphasized the depth of the China–Saudi partnership, noting that bilateral trade now exceeds $150 billion, with a growth rate of around 30 percent annually.

He reaffirmed the Kingdom’s openness to partnerships with China’s leading universities and technology companies, particularly in future-focused sectors aligned with Vision 2030, including education, digital transformation, AI, and clean energy.

The forum featured panel discussions on cross-border education, global city development, and technology transfer, with experts stressing the importance of joint ventures in the digital economy and smart infrastructure.

Participants said Saudi Arabia could benefit from China’s successful experiences in energy transition, infrastructure modernization, and innovation ecosystems as it builds globally competitive cities and institutions.

The Saudi Economic Forum concluded with calls for sustained academic and corporate partnerships to enhance institutional excellence and global competitiveness. Organizers said the initiative will continue to facilitate knowledge exchange and support national transformation goals in both countries, namely in the fields of technology and innovation.