SAUDI ARABIA More than 230,000 additional guestrooms are required by 2020 to meet an anticipated increase in tourism to Saudi Arabia, the state’s tourism commission says.
The additional inventory would represent an increase of 83% over Saudi Arabia’s current hotel stock. The number of hotels in the country has already risen 172% just in the past decade, according to data from the Saudi Commission for Tourism & Antiquities.
“The future outlook of the Saudi Arabian hotel industry is today more prosperous than ever, with the enhanced competition through more and more international and local companies of a high caliber investing in the sector, with improved services and standards,” says Ahmed Al Issa, the commission’s general director for licensing and quality. “The hotel industry is, despite issues that may be affecting other sectors, continuously growing, and although sensitive to political and economic factors, is not as fragile as some people may think.
“Saudi Arabia has seen its hotel industry pick up quickly despite the economic pressures facing the world since 2008, and there is a strong focus on both leisure and business tourism. With such high forecasts for demand over the coming decade, there is significant investment opportunity in the hotel industry, which will support the growth in the kingdom’s wider economy.”