Arabian Business: How PIF is shaping the future of sustainable tourism

• PIF giga-projects focus on spurring Saudi Arabia’s position as a world-leading tourism destination
• Sustainable approach provides a new model for the tourism sector globally
• Local community prioritized to ensure long-term impact of projects

Saudi Arabia is proving itself as a major player in the vital tourism industry, having welcomed 100 million tourists in 2023, reported Arabian Business. 

The record number of visitors reflects a significant growth, with inbound tourism surging 65% and domestic tourism growing 2% in 2023 compared to 2022. Saudi Arabia ranked second globally as the fastest growing tourist destination in the world during the first quarter of 2023, and 11th in international tourism revenue indicators in 2022, according to the United Nations World Tourism Organization.

PIF has supported the country’s huge strides, with its diverse portfolio of ambitious giga-projects focusing on spurring Saudi Arabia’s position as a world-leading tourism destination, the article highlights.

These giga-projects include Qiddiya, which is set to become a global destination that includes a gaming & esports district, a Formula 1 racing track, two golf courses, and a sports stadium with the largest Olympic museum in the world, in addition to the Six Flags entertainment city and a water theme park.

Other major destinations include The Red Sea and Amaala, developed by PIF-owned Red Sea Global; and Diriyah, being developed by another PIF-owned business, Diriyah Company. Showcasing 300 years of history, Diriyah is considered the cradle of Saudi Arabia, and boasts a UNESCO World Heritage Site.

Sustainability is at the center of these and many other tourism-focused projects and infrastructure, with the environment, economy, and local community prioritized to ensure long-term impact and provide a new model for the tourism sector globally.

Read the full Arabian Business article here.

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