Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is reportedly in early discussions to acquire the kingdom's flagship airline, Saudia, as part of a strategy to invest billions of dollars into transforming the country into a major tourism destination. This acquisition could see Saudia being privatized or merged with the newly established Riyadh Air as early as next year. The PIF's initiative aligns with Saudi Arabia's ambitious plans to boost its tourism sector, aiming to attract 100 million foreign and domestic visitors annually and increase tourism's contribution to the economy from about 3% to 10%. This effort includes significant investment in developing new tourism hotspots, despite the kingdom facing a persistent public relations challenge among potential travelers, particularly from the West.
Saudi Arabia has a persistent PR problem among many would-be travelers, especially those from the West. How could it impact it's blooming tourism goals? Read more: https://t.co/JTg72Iylcw https://t.co/45PxWbbcN8
How much has Saudi Arabia spent trying to build out its new tourism hot spots? Read more: https://t.co/JTg72IyT24 https://t.co/H91mhcJobN
Saudi Arabia's tourism goal includes attracting 100 million foreign and domestic visitors to the country every year and grow tourism’s share of the economy from about 3% to 10%. Read more: https://t.co/JTg72Iylcw https://t.co/rMdUu1ORyU
Saudi Arabia is hoping to expand its tourism. These are the new developments being created. Read more: https://t.co/62MfkHjarD https://t.co/6NZscak6eW
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Saudi Arabia’s massive wealth fund is reportedly in talks to acquire national airline Saudia - CNBC https://t.co/hE2drWetpC
Saudi Arabia's massive wealth fund is in talks to acquire national airline Saudia: Report https://t.co/RER3emnarB
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So far Saudi Arabia’s investment fund has been able to pick assets that promise both economic development and strong returns, while tapping dividends from these holdings. As its role expands, that will become increasingly difficult https://t.co/6A8iEQv545 👇
Saudi Arabia’s sovereign wealth fund is in early talks to acquire the kingdom’s flagship carrier as it looks to pour billions of dollars into turning the country into a tourism hotspot. https://t.co/WLTGSdSUwm via @LeenAlRashdan @MattMartin128
Saudi Wealth Fund Said to Be in Talks to Buy National Airline Public Investment Fund could buy Saudia as soon as next year Carrier could then be privatized or merged with Riyadh Air https://t.co/bNAO48SW3p
Saudi Arabia’s sovereign wealth fund is in talks to buy the kingdom's flagship airline as part of a plan to create a tourism hotspot https://t.co/jY2rdbBCl0