As part of diversifying its economy, Saudi Arabia is planning to open 315,000 new hotel rooms at a cost of $37.8 billion by 2030.
According to Knight Frank’s 2023 report, the new planned additions will take the total stock to nearly 450,000 hotel rooms. Saudi’s futuristic city of Neom is leading the supply pipeline.
The report also stated that 56% of hotels will be international brands, while 41% by local brands.
The Arab world’s biggest economy is aiming to become the hub for travel and tourism industry in the region. Last month, authorities announced the plans to launch a new airline – Riyadh Air and the new King Salman International airport.
