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Reading: Al-Khateeb: Saudi Arabia Emerges as Global Innovation Hub with SR800 Billion Investments
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Gulf Press > Gulf > Saudi Arabia > Al-Khateeb: Saudi Arabia Emerges as Global Innovation Hub with SR800 Billion Investments
Saudi Arabia

Al-Khateeb: Saudi Arabia Emerges as Global Innovation Hub with SR800 Billion Investments

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Last updated: 2024/05/15 at 1:11 AM
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Saudi Minister of Tourism Ahmed Al-Khateeb highlighted Saudi Arabia’s growing role in the global innovation landscape, with investments reaching SR800 billion. The Kingdom has seen a 90 percent increase in tourist licenses issuance, contributing 5 percent to the GDP. The GREAT FUTURES initiative, part of the Saudi-UK Strategic Partnership Council, aims to enhance cooperation and investments in 13 sectors. Al-Khateeb emphasized the importance of British companies participating in Saudi Arabia’s transformation under Vision 2030, which has unlocked the country’s tourism potential.

Al-Khateeb expressed Saudi Arabia’s desire for Britain to play a significant role in achieving Vision 2030’s goals. The Kingdom welcomed over 165,600 British tourists this year, with 560,462 e-visas issued since 2019. The minister emphasized the need to strengthen communication and increase British hotel operators in Saudi Arabia. Saudi Arabia’s hosting of sporting events like “Formula 1” and “WWE” has established the country as a sports hub, enhancing the infrastructure for sports and creating a sustainable environment for international sports activities.

Al-Khateeb’s discussions with UK Secretary of State for Culture, Media, and Sport Lucy Frazer focused on the training of Saudi youth in the tourism sector. These young individuals have acquired valuable skills from top British universities, showcasing the successful collaboration between the two countries. Saudi Arabia continues to highlight its leading role in various fields and seeks to promote tourism and cultural exchange between Saudi Arabia and Britain. The minister stressed the importance of these partnerships in achieving mutual development and growth in the tourism sector.

The Kingdom’s strategic initiatives and investments have positioned Saudi Arabia as a key player in the global innovation landscape. Al-Khateeb’s emphasis on cooperation and partnerships with Britain underscores the importance of international collaboration in achieving common goals. The GREAT FUTURES initiative serves as a platform for knowledge exchange and investment opportunities, enabling Saudi Arabia to tap into its vast tourism potential and drive economic growth. As Saudi Arabia continues to host major sporting events and enhance its infrastructure, the country is solidifying its position as an international sports hub. The collaboration between Saudi Arabia and Britain in training Saudi youth reflects the successful exchange of knowledge and skills, paving the way for further advancements in the tourism sector.

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News Room May 15, 2024
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