Tourism fund says SAR 6 bln invested in qualitative projects over 18 months

Ahmed Al Khateeb, Minister of Tourism

Saudi Arabia’s Tourism Development Fund (TDF) invested nearly SAR 6 billion in qualitative tourism projects since its establishment in June 2020, of which SAR 4 billion were private sector investments.

These projects are expected to provide 21,000 job opportunities in the tourism industry and add SAR 2.3 billion to the Kingdom’s gross domestic product (GDP). They will also contribute 3,500 hotel rooms in nine tourist destinations.

Founded in June 2020 with an initial $4 billion investment, the fund is part of Saudi plans to diversify the economy away from the oil sector.