Saudi Arabia is actively seeking to bolster its tourism sector by attracting $80 billion in private investment. This initiative is part of the Kingdom's broader ambition to become one of the world's leading tourism destinations. The move is seen as a crucial step towards achieving the economic reform goals set by Crown Prince Mohammed bin Salman. Additionally, Saudi Arabia aims for an oil price of approximately $100 a barrel to fund these ambitious economic reforms. However, its efforts to cut oil production to reach this price have been met with concern by the United States, which is worried about the impact on inflation.
#SaudiArabia seeks to attract as much as $80 billion in private investment into the tourism industry as the Kingdom looks to share the financial burden of plans to become one of the world’s most visited destinations. https://t.co/c5VXVjUK6t
Saudi Arabia wants $80 billion in private investment as it seeks to become one of the world's top tourism destinations https://t.co/ekuQriE9PG via @cmarie_burke @MattMartin128
Saudi Arabia wants $80 billion in private investment as it seeks to become one of the world's top tourism destinations https://t.co/96qKYaLYea
#SaudiArabia Seeks $80 Billion Investments in Push for More Tourists Kingdom wants private-sector funding to fuel tourism expansion Foreign investment seen key to delivering economic goals https://t.co/3Xa7MbxeUV
"[Saudi Arabia] needs an oil price of closer to $100 a barrel to fund the ambitious economic reform programme of Crown Prince Mohammed bin Salman, but its efforts to cut production have not been welcomed by the US, which is worried about the effects on inflation." https://t.co/pzarkImg2v