Tourism industry tops the charts for Saudi Arabia: MAS
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As per recent figures released by the Saudi Tourism Information and Research Center (MAS), the tourism industry has accounted for 3.2% of the Kingdom of Saudi Arabia’s total GDP in 2011, as well as 7.1% of non-oil GDP and 11.8% of private sector GDP.
The total value of the tourism industry in 2011 was estimated to reach SR59.5 billion, increasing by 6.8% from SR55.7 billion in 2010, and is forecast to further increase in 2012 driven mainly by an expected 5.3% increase in inbound tourists reaching 18.42 million this year.
To support the sustained growth of the tourism sector, Saudi Arabia is expected to channel more investments for qualitative improvements and to further diversify the range of tourism products and services.
Hospitality investments are particularly gaining momentum, especially in key cities of Makkah and Madina. One of the key development initiatives being undertaken by ALJREIC is the Jabal Al Kaaba project, which is expected to add more than 8,000 hotel rooms to the market over the next few years under the ‘Anjum Hotels’ brand.
Yousef Abdul Latif Jameel, chairman of Abdul Latif Jameel Real Estate Investment Co, said: “We are confident that our tourism investments will contribute towards enhancing the quality of hospitality and tourism amenities in KSA.”
The flagship hotel of the brand, ‘Anjum Hotel’ will open in early 2013, providing all the amenities needed by Hajj and Ummrah visitors.