Tourism, investment ministries unveil first approved projects under Hospitality Investment Enablers Program

RIYADH — The Ministry of Tourism and the Ministry of Investment have announced the first batch of projects approved under the Hospitality Investment Enablers (HIE) Program at a joint event held in Riyadh. The announcement ceremony was attended by Minister of Tourism Ahmed Al-Khateeb and Minister of Investment Fahad Al-Saif.Under this program, the Ministry of Tourism, in cooperation with the Ministry of Investment, offers targeted enablers to accelerate private-sector investment in hospitality projects across selected tourism destinations in the Kingdom. The program helps reduce operating costs for approved hospitality projects, enhancing their economic viability and investment appeal.Al-Khateeb said that the Hospitality Investment Enablers Program reflects our long-standing commitment to enabling private-sector investment and responding to the Kingdom’s growing tourism demand. “By expanding hospitality capacity in high-potential destinations, we are doing more than adding rooms. We are unlocking new investment opportunities,stimulating economic activity across tourism destinations, and supporting sustainable tourism growth. The first approved projects reflect investor confidence in the opportunities offered by Saudi Arabia’s tourism sector and the role of private-sector partnerships in turning these opportunities into projects that contribute to destination development," he said.On his part, Al-Saif affirmed that the tourism sector is a priority of the National Investment Strategy, given the significant investment opportunities it presents and its role in diversifying the economy and increasing its contribution to GDP, supporting the goals of Saudi Vision 2030. “The Hospitality Investment Enablers Program is a model of government collaboration to develop enablers that strengthen private-sector participation, stimulate high-quality investment and develop the attractiveness of investment opportunities in promising tourism destinations. In partnership with the Ministry of Tourism and other relevant entities, we are working to strengthen the investment environment and simplify the investor journey, helping turn opportunities into sustainable projects, maximize their economic and developmental impact, create jobs and increase local content,” he said.The first batch includes 19 projects across five high-potential tourism destinations. Together, they are expected to unlock SR6.7 billion in investment and create over 17,000 jobs. By 2030, the projects are expected to make an annual direct contribution of more than SR2.4 billion to GDP and contribute over SR5.3 billion to local content by generating demand for locally sourced goods, services, and materials.The approved projects will add more than 3,000 hotel rooms to the Kingdom’s tourism supply. Approximately 40 percent of the planned rooms will be located in coastal destinations, strengthening the Kingdom’s sun-and-sea tourism offering.The benefits will extend beyond accommodation, generating opportunities across food and beverage, retail, entertainment, and other visitor-focused services. This wider activity will support local businesses, stimulate economic growth in the participating destinations, and contribute to a more integrated visitor experience.The first project is scheduled to open by the end of 2026, followed by further openings over the coming years, with the final projects set to become operational in 2029. This will expand the Kingdom’s hospitality capacity ahead of Expo 2030, the FIFA World Cup 2034, and other major international conferences and exhibitions.