A Historic $113 Billion Tourism Investment Sparked by Saudi Arabia’s TOURISE Summit
The inaugural TOURISE Summit in Riyadh concluded this week, marking a transformative moment for the global tourism industry with a historic announcement of $113 billion in investments. This three-day summit, held from November 11-13, 2024, served as a melting pot for leaders from diverse sectors including tourism, technology, investment, and sustainability.
The enormous investment portfolio spans the entire visitor economy. Key areas of focus include:
- Luxury retail
- Next-generation hotel accommodation
- Integrated experience-led developments
- Wellness destinations
- Talent development
- AI-powered tourism platforms
Major companies participating include Melia Hotels, BWH Hotels, GOCO Hospitality, Radisson, and several Saudi entities like Al Fozan Holding and Knowledge Economic City.
“TOURISE has been the catalyst that brings investors, policymakers, and innovators to the same table, turning vision into bankable partnerships and high-impact deals,” said His Excellency Ahmed Al-Khateeb, Saudi Minister of Tourism and Chairman of TOURISE. A significant portion of investments focus on Saudi Arabia, reinforcing the Kingdom’s position as a premier global travel destination.
These investments are expected to create substantial job opportunities across hospitality, technology, and tourism management. Additionally, they will introduce data-driven designs and AI platforms that enhance traveler experiences worldwide.
Source: Travel Daily News