Saudi Arabia drives tourism growth with SR 2.9 billion projects

Riyadh: The Kingdom of Saudi Arabia (KSA) has announced Saudi Riyals 2.9 billion worth of new tourism projects and partnerships aimed at accelerating the Kingdom’s sustainable tourism growth and strengthening its global competitiveness.

The announcement was made by the Tourism Development Fund (TDF) during the inaugural TOURISE 2025 Summit, held from Tuesday, November 11 to Thursday, November 13, 2025, at the King Abdulaziz International Conference Centre in Riyadh.

The landmark event, held under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, brought together global tourism leaders, policymakers, innovators, and investors to shape the future of the tourism sector and chart a shared roadmap for the next five decades.

Participating as an Impact Sponsor, the Tourism Development Fund (TDF) announced a portfolio of projects and partnerships valued at Saudi Riyals 2.9 billion, reflecting its role as a key enabler of sustainable development and economic diversification under Vision 2030.

Five integrated tourism projects in Aseer

The Fund announced five major developments in the Aseer Region, comprising 1,211 hotel keys, including:

• Jareed Aseer Project
• Al-Hadaba Park
• The Westin Resort
• The House Residences
• New ventures in the Haifa and Jabal Abdullah areas under the Mantis hotel brand

The projects were announced under the patronage of Prince Turki bin Talal bin Abdulaziz, Governor of Aseer and Chairman of the Aseer Development Authority, in the presence of:

• Ahmed Al-Khateeb, Minister of Tourism and Chairman of the TDF
• Eng. Mansour Al Mushaiti, Vice Minister of Environment, Water and Agriculture
• Qusai Al-Fakhri, CEO of the TDF

Officials said the developments form a key part of the Aseer Region Development Strategy, which aims to:

• Transform the region into a year-round tourism destination
• Create new job opportunities for locals
• Encourage private sector investment
• Enhance infrastructure and visitor experiences

Global investments worth USD 113 billion

The unveiling coincided with TOURISE’s wider announcement of USD 113 billion in global tourism portfolio investments, featuring international and Saudi companies such as:

• Melia Hotels
• BWH Hotels
• Radisson
• Earth Hotels
• GOCO Hospitality
• AlFozan Holding
• Al Kathiri Holding
• Al Othaim
• Cenomi
• Knowledge Economic City
• Tourism leadership and vision

Ahmed Al-Khateeb, Minister of Tourism and Chairman of TOURISE, said the summit serves as a global platform for collaboration and innovation.

“TOURISE brings together policymakers, investors, and innovators to transform ambition into action,” he said. “Through these partnerships, we are redefining the traveller economy with sustainability, innovation, and excellence at its core.”

By combining infrastructure with human capital and integrating data, design, and hospitality, the new projects are expected to:

• Generate skilled employment
• Improve service quality
• Deliver distinctive visitor experiences that showcase Saudi culture and innovation

Global dialogue at TOURISE 2025

The TOURISE 2025 Summit featured:

• 140 international speakers
• Over 40 panel discussions
• 15 workshops covering investment, innovation, and future policy development

Prominent global figures included:

• Ariane Gorin, CEO of Expedia
• Gloria Guevara, CEO of the World Travel & Tourism Council
• Sebastien Bazin, CEO of Accor
• Thomas Woldbye, CEO of Heathrow Airport