Sunday, October 24, 2021

Saudi govt to invest $13bn in turning Red Sea region into tourism hub

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Saudi Arabian Crown Prince, Mohammed bin Salman on Wednesday inaugurated a 50-billion-riyal (13.3 billion dollars) plan to turn the south-western province of Asir into a tourist destination.

The plan was aimed at developing the coastal Red Sea region, which lies near the kingdom’s borders with conflict-ridden Yemen.

The Saudi Press Agency reported that the plan would be able to attract 10 million visitors from within and outside Saudi Arabia by 2030.

It will include infrastructure, transport, health and communications projects.

The crown prince inaugurated his ambitious Vision 2030 plan five years ago, in a bid to pivot away from dependence on oil production and toward other forms of investment, including tourism.

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