Inside Saudi Arabia’s Push to Become a Global Vacation Destination

Summary

Saudi Arabia is pursuing Vision 2030 to diversify its oil-dependent economy, with tourism as a central pillar. The tourism minister, Red Sea Global CEO, and Royal Commission for AlUla CEO describe ambitious plans for luxury resorts, cultural destinations, airlines, airports, and hotels, targeting 50 million foreign visitors annually by 2030. Council on Foreign Relations expert Steven Cook discusses institutional gaps, regional competition, and social change affecting the Kingdom's tourism ambitions. The video highlights large capital outlays and the need for private-sector investment.

• Saudi Arabia aims to reduce oil reliance under Vision 2030, with tourism a key diversification pillar.
• Tourism minister targets 50 million foreign visitors by 2030, ranking among top 10 most visited.
• Red Sea Global and AlUla projects aim to attract luxury, cultural, and international tourists.
• Government plans nearly $1 trillion in tourism investment; private investment reached $3.8 billion in 2024.
• Saudi Arabia faces competition from UAE, Africa, and Asia, and is opening property/equity markets to foreign investors.
• Steven Cook warns of institutional gaps and need for investment-law reforms outside hydrocarbons.
• Social liberalization and potential alcohol reforms are seen as incremental changes, not make-or-break for tourism.