Tourism Sector Takes Centre Stage At World Economic Forum Annual Meeting 2025 In Davos

Saudi Arabia is set to participate in the World Economic Forum (WEF) Annual Meeting 2025 in Davos, Switzerland. This involvement highlights the Kingdom's dedication to influencing global discussions on travel and tourism. These sectors are seen as crucial for economic growth and cultural exchange. Minister of Tourism Ahmed Al Khateeb shared these insights with the Saudi Press Agency (SPA).

Tourism is a major focus at this year's forum, with Saudi Arabia eager to display its progress and build partnerships for global sector growth. The Kingdom's tourism industry is expanding rapidly under Saudi Vision 2030 and the National Transformation Program. The aim is to position Saudi Arabia as a top global destination, targeting 150 million tourists annually.

The tourism sector currently contributes 5% to Saudi Arabia's GDP, with expectations to reach 10% by 2030. This anticipated growth is driven by strategic investments in significant projects like the Red Sea Project, Diriyah, and Qiddiya. Additionally, numerous private-sector initiatives are enhancing tourism across the Kingdom.

Al Khateeb emphasized that Saudi Arabia is utilizing its natural and cultural assets to set a global standard for tourism-driven economic development. He also noted the vital role of tourism in the global economy, referencing the 2023 Economic Impact Report (EIR) by the World Travel & Tourism Council (WTTC). The report indicated that the global travel and tourism sector contributed 9.1% to global GDP—a notable increase of 23.2% from the previous year.

The minister described Saudi Arabia's participation in Davos as a chance to highlight its achievements through collaboration with international leaders. It also aims to strengthen public-private partnerships and reinforce its status as a hub for international cooperation.

"Saudi Arabia's participation in Davos underscores its steadfast commitment to shaping the global dialogue on travel and tourism," said Al Khateeb. He stressed that these sectors are key drivers of economic growth and cultural exchange.

By leveraging its unique assets, Saudi Arabia seeks to establish itself as a benchmark for tourism-led economic development globally. The country's ambitious goals align with broader efforts under Vision 2030, aiming for substantial contributions from tourism to national GDP.

In conclusion, Saudi Arabia's active role in international forums like WEF reflects its commitment to advancing its tourism sector while fostering global partnerships. These efforts are integral to achieving Vision 2030 objectives and enhancing economic diversification through strategic investments.

With inputs from SPA