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Riyadh is Saudi Arabia’s most populous city Riyadh is Saudi Arabia’s most populous city

Investment Helping Saudi Hospitality Sector to Grow

Recent reforms in Saudi Arabia and widespread investment in the Kingdom’s tourism industry is expected to drive a 13.5 percent compound annual growth rate (CAGR) in the hospitality market, according to new report commissioned by Arabian Travel Market.

The projection is higher than the established markets of the UAE, at 10.1 percent, and Oman 11.8 percent. According to the report, Saudi Arabia is expected to see a vast expansion of its hotel and resort inventory, along with a steep increase in airport passengers.

A series of leisure projects, including the creation of a Six Flags theme park in Riyadh by 2021 and a Red Sea resort built on 170 km of coastline, are also in the pipeline. Featuring hotels, residences and a transport hub, the Red Sea project is estimated to create 35,000 jobs, adding SAR15 billion (USD4 billion) to the economy.