Hotel rooms in Saudi Arabia increase

Saudi Arabia is looking to increase the supply of hotel rooms to 600,000 by 2020, a news report said. The country’s entertainment and hospitality sector development initiatives and tourism support were discussed during the recent hotel investment conference, according to a report in the Arab News. The kingdom has more than 2,000 licensed and classified hotels, and the number of residential units has risen to over 6,000 licensed and classified facilities, while the number of hotel rooms has reached more than 500,000 by the end of 2018. Investors have been invited to look beyond the major cities of Saudi Arabia, emphasizing the need to promote tourism and the national heritage industries. In fact, recent annual statistics show that travel and tourism account for 9.4% of Saudi Arabia’s gross domestic product (GDP), with passenger expenditure increasing by 10.5% per annum (14.8 billion US dollars). While the country’s economy is diversified, in line with Vision 2030 plans, the number of international arrivals is expected to increase by 4% annually, according to the World Travel and Tourism Council (WTTC), with a link estimated to 22.1 million by 2025.