Saudi Arabia is set to witness the development of new luxury resorts as the Tourism Development Fund signed a memorandum of understanding with Karisma Hotels and Resorts International. The signing took place at the International Hospitality Investment Forum in Berlin on Wednesday. The MoU seeks to explore opportunities for developing resorts and enhancing new areas of the tourism and hospitality sector in the Kingdom. The agreement outlines a roadmap to determining a methodology for investing and providing financial and non-financial support to a vibrant ecosystem of investors, clients, and partners. The Tourism Development Fund is unlocking a great potential with Karisma Hotels and Resorts as they join forces to explore the feasibility of funding and supportive innovative projects that will significantly contribute to the growth of the tourism sector. The fund aims to connect the world with opportunities in the Kingdom’s fast-growing tourism sector. It offers financial and non-financial support to international and local investors. Saudi Arabia’s tourism sector has revised its 2030 target to 150 million visitors, up from the initial 100 million. The tourism sector has become important to the national economy, as spending on tourism by domestic and international tourists exceeded $66.7 billion in 2023. The sector is set to contribute 10 percent to the non-oil gross domestic product .   To contact  Ministry of tourism: https://mt.gov.sa/contact-us (ICE RIYADH)

Fonte notizia: Arab News