The Saudi Red Sea Authority (SRSA), in partnership with the Ministry of Investment, published a report titled “Invest in Coastal Tourism.” This document underscores the vital role of coastal tourism in fulfilling the objectives of Saudi Vision 2030, which aims to draw 19 million visitors to the Red Sea shoreline.
Economic contributions
The report further details how the sector contributes to the diversification of the national economy, attracts investments, creates new revenue streams, and generates job opportunities. It also highlights the necessity of safeguarding the marine environment to ensure its longevity for future generations.
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Growth projections for 2030
SRSA is focused on cultivating a robust coastal tourism industry along the Red Sea, projecting an economic contribution of approximately SAR85 billion to the GDP by 2030. Additionally, key objectives include capturing 30 percent of the Kingdom’s leisure tourism market, securing 40 percent of total entertainment spending, attracting 19 million tourists, and creating over 210,000 jobs. These initiatives align with SRSA’s mission to promote investment in navigational and marine tourism activities while providing comprehensive administrative, technical, and advisory support to all investors, particularly small and medium enterprises. The goal is to enhance the coastal tourism sector and establish the Red Sea as an attractive global destination.
Commitment to unique experiences
Moreover, in line with its recent efforts, SRSA is committed to delivering a distinctive experience for visitors to the Red Sea, cultivating a favorable investment climate, establishing exemplary infrastructure standards, and developing prestigious coastal tourism locations. The authority aims to achieve sustainable tourism and effective governance within the coastal tourism framework.
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