King Abdullah Economic City chief executive officer Fahd Al Rasheed told the Arabian Hotel Investment Conference (AHIC) this afternoon that the hotel and tourism industry will boom in Saudi Arabia in the next decade.
“We estimate the kingdom’s tourism market will grow from SR 100bn to SR 190bn by 2020,” Al Rasheed said. “We see the opportunities coming and we shall be investing in a big way in King Abdullah Economic City.”
King Abdullah Economic City is a privately-owned integrated industrial, commercial and residential project being developed at Rabigh on Saudi Arabia’s Red Sea coast north of Jeddah.
AHIC is organised by Bench Events and MEED.