TBM Staff - Mumbai Saudi Arabia has announced the cancellation of fees for issuing commercial activity licences for hotels, hotel apartments, and residential resorts, the state news agency SPA reported today. The decision, effective immediately, is part of the kingdom’s ongoing Tourism Investment Enabler Programme, launched in March.
This move aligns with Saudi Arabia’s Vision 2030, which aims to position the country as a global tourism hub and reduce its dependence on oil revenues. The initiative is expected to attract more investment into the tourism sector, increasing its contribution to the kingdom’s gross domestic product (GDP).
Under Vision 2030, Saudi Arabia has invested over $800 billion to diversify its economy and modernise the country.
Tags: GDP hotel apartments hotels Kingdom residential resorts Saudi Arabia Tourism Investment Enabler Programme
