Travel And Tourism Sector's Vital Role In Building Resilient Economies Highlighted By Minister At WEF

The World Economic Forum (WEF) Annual Meeting in Davos highlighted the vital role of the travel and tourism sector in shaping global dynamics. Minister of Tourism Ahmed Al Khateeb urged global leaders to prioritise and collaborate on solutions for this industry. Saudi Arabia welcomed nearly 30 million international visitors in 2024, contributing almost 5% to its GDP.

During the WEF sessions, Al Khateeb emphasised Saudi Arabia's remarkable growth rates in tourism. He noted that unlocking the travel sector through Vision 2030 has led to a comprehensive tourism experience based on international cooperation, best practices, and sustainable development. The Kingdom's approach aims to build diversified and resilient economies.

Al Khateeb stressed the importance of creating a vibrant tourism ecosystem that balances economic growth with social and environmental responsibility. "The world is counting on us to build a vibrant tourism ecosystem that meets growing demand while safeguarding our planet and quality of life," he stated. He called for collective action to ensure the sector's resilience.

Throughout the forum, Al Khateeb participated in key discussions on official WEF panels such as "Travel and Tourism’s Role in Building Trust" and "The Way We Will Travel." These discussions focused on mobilising diversified sector growth and enhancing global collaboration to meet increasing demand. A high-level session at Saudi House explored "Scaling Sustainable Tourism: Connecting People and Places."

In line with Saudi Arabia's forward-thinking tourism strategy, the Ministry launched the "Hospitality Investor White Paper" during the WEF meeting. This investment guide supports Vision 2030's ambitious goals by aiming to attract over SAR40 billion (USD 11 billion) in private investments, contribute SAR16 billion (USD 4 billion) to GDP, and create 1.6 million jobs by 2030.

Al Khateeb shared insights alongside notable figures like Albania Prime Minister Edi Rama, European Commissioner Apostolos Tzitzikostas, Switzerland Tourism CEO Martin Nydegger, and Trip.com CEO Jane Sun. They all echoed his views on the necessity for increased global collaboration in tourism.

As the WEF Annual Meeting concluded, Al Khateeb remarked on tourism's full recovery to pre-pandemic levels with 1.4 billion international arrivals in 2024. The world is observing this resurgence closely as it underscores tourism's transformative potential beyond being just an industry.

With inputs from SPA