Riyadh, Saudi Arabia – 17 March 2024. The Kingdom of Saudi Arabia is poised to develop 362,000 new resort rooms by 2030 as a part of its US$110 billion hospitality sector transformation, in line with information launched forward of the 2025 version of the Future Hospitality Summit (FHS) Saudi Arabia.

Saudi Arabia’s ongoing and unprecedented enlargement throughout infrastructure, actual property, tourism, and hospitality, consistent with Imaginative and prescient 2030, is positioning the Kingdom as a world chief within the journey and tourism sector. This strategic progress is setting new trade requirements whereas creating vital funding alternatives, enabling buyers to actively take part within the nation’s long-term financial transformation, in line with trade consultants.

Oussama El Kadiri, Companion – Head of Hospitality, Tourism and Leisure at Knight Frank, stated: “Fueled by formidable Imaginative and prescient 2030 objectives, Saudi Arabia’s tourism sector presents a compelling funding panorama, evidenced by its record-breaking SAR 444.3bn GDP contribution in 2023, accounting for 11.5% of the nationwide economic system. This progress displays the Kingdom’s strategic initiative to place itself as a number one international tourism vacation spot.

The sector’s fast progress is additional evidenced by the rise in worldwide arrivals, which reached 30 million in 2024, up from 27.4 million in 2023. This upward trajectory, coupled with a powerful funding pipeline, helps Saudi Arabia’s aim of attracting 70 million worldwide guests yearly by 2030.

El Kadiri additional emphasised the influence of upcoming international occasions on Saudi Arabia’s financial transformation. Main worldwide occasions, such because the 2029 Asian Winter Video games, World Expo 2030, and the FIFA World Cup 2034, are anticipated to drive additional progress in tourism, hospitality, and associated industries. These occasions won’t solely improve customer numbers but additionally improve Saudi Arabia’s international popularity as a premier vacation spot for leisure, enterprise, and mega-events.

Main hospitality information and analytics supplier STR stories that KSA resort room income reached a formidable US$5.6 billion between January and October 2024 – up 3.5% on 2023 and 26.5% larger than in 2019. Key areas together with Riyadh and Medina witnessed vital progress in each occupancy and ADR efficiency in 2024, with upward trajectory set to proceed this 12 months and past. In Riyadh, ADR was up 16% on 2023, with a 5% improve in Medina.

«Saudi Arabia is undoubtedly probably the most thrilling locations on the planet, present process a exceptional transformation right into a world-class tourism hub. The important thing to sustaining this momentum lies in balancing the inflow of recent resort developments with a aggressive market edge. Whereas we anticipate super success pushed by robust demand turbines, STR additionally forecasts a slight softening in charges as new resort provide enters the market within the quick time period. This adjustment might be essential in attracting recent demand and guaranteeing wholesome occupancy ranges throughout the Kingdom,” commented Philip Wooller, Senior Director, Center East & Africa – STR.

FHS Saudi Arabia’s action packed agenda encompasses a plethora of displays, panel dialogue and workshops on investing in KSA’s hospitality sector – for seasoned buyers and first timers. Amongst, them: Investing in Imaginative and prescient: Highlighting investable alternatives in Saudi Arabia’s Evolving Hospitality Panorama;Navigating the Hospitality Funding Trade in Saudi Arabia: A Newbie’s Information for New Attendees;and Authorities Insights on Funding Incentives in Saudi Arabia.

Organised by The Bench, FHS Saudi Arabia returns to Mandarin Oriental Al Faisaliah in Riyadh from 11-13 Could 2025, uniting hospitality trade leaders and determination makers who will not be solely enjoying a key function in sector’s success at the moment, however are extremely influential in shaping KSA’s future hospitality panorama. Centred across the theme “The place Imaginative and prescient Shapes Alternative”, this 12 months’s occasion is anticipated to surpass the 2024 version – which welcomed 1,400 delegates and created US$1.1 billion value of enterprise alternatives – by way of attendance and enterprise openings.

For full particulars and to register, go to futurehospitality.com/sa

About The Bench

The Bench has constructed a legacy as a world curator of alternative, designing transformative boards and summits that empower the hospitality and journey industries to attach, innovate, and thrive. With over 20 years of experience, The Bench creates platforms that transcend transactions to encourage collaboration and drive significant change.

Every occasion brings collectively authorities leaders, tourism ministries, international journey associations, main hospitality manufacturers, resort house owners and buyers, airways, vacation spot builders, and extra. From flagship gatherings like FHS World (previously AHIC) and FHS Saudi Arabia, to FHS Africa (previously AHIF) and AviaDev, The Bench creates occasions the place concepts spark, relationships deepen, and investments take flight.

The Bench thrives on fostering dynamic and forward-looking dialogues, uniting trade pioneers to deal with challenges, seize alternatives, and co-create the long run. Every occasion is crafted to ship extra than simply connections – it is about remodeling concepts into motion and constructing a greater tomorrow.

Uncover extra at thebench.com.

About FHS Saudi Arabia

Dates: 11-13 Could 2025

Location: Mandarin Oriental Al Faisaliah, Riyadh, Saudi Arabia

Sponsors: Mandarin Oriental Al Faisaliah, Riyadh and Al Khozama Funding as Host Sponsors; Ministry of Tourism as Strategic Enabler; Taiba Investments as Founding Companion; Al Rajhi Financial institution, Amsa Hospitality, Elaf Group, NEOM, Pink Sea World, Rua Al Madinah, Saudi Icon, The Ascott, and Tourism Improvement Fund (TDF) as Strategic Companions; Accor, BWH Resorts, ClubMed, Marriott Worldwide, Radisson Lodge Group, Rotana, and Sommet Training as Headline Sponsors; Aleph Hospitality, ARC-IDC, Ark Individuals Options, AtkinsRealis, CBRE, Compass Challenge Consulting, Domus Managed Housing, ELE|NA, H World Worldwide, Horwath HTL, IHCL, JLL, JT+P, Knight Frank, Louvre Resorts Group, Minor Resorts, Quo, Story Hospitality, STR, The First Group, United Hospitality Administration, and Wyndham Resorts & Resorts as Sponsors; Dusit Worldwide, Hospitality Chain Co, Hospitality Administration Holding, Melia Resorts Worldwide, Neo Leap, Rove Resorts, Shaza Resorts, Sophos Resorts, Time Resorts, TV5Monde, Valor Hospitality Companions, and WhiteWater as Exhibitors.

Anne Bleeker
In2 Consulting
+971 56 603 0886
The Bench