Reuters | | Posted by Zarafshan Shiraz, Dubai
Sep 05, 2024 02:46 PM IST
Saudi Arabia scraps hotel licensing fees in bid to boost tourism
Saudi Arabia decided on Wednesday to cancel fees for issuing commercial activity licenses for hotels, hotel apartments and residential resorts in the kingdom, state news agency SPA reported.
The decision, effective Sept. 4, is part of the Tourism Investment Enabler Program that Saudi Arabia launched in March, aimed at making the kingdom a global tourism powerhouse.
“This decision comes in line with the goals of the Kingdom’s Vision 2030 to make Saudi one of the most prominent tourist destinations in the world”, SPA said.
SPA added that the initiative would encourage investors to put more money into the tourism sector, which would increase the industry’s contribution to gross domestic product.
Saudi’s Vision 2030 plans to modernise the Gulf Arab state and reduce its dependence on oil export revenues with over $800 billion invested to diversify the economy.
Catch every big hit,…
See more
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.