ROSHN and Ministry of Tourism Sign MoU to Boost Saudi Tourism

ROSHN Group, Saudi Arabia’s leading national real estate developer, has signed a Memorandum of Collaboration (MoC) with the Ministry of Tourism to support the Kingdom’s National Tourism Strategy, aiming to welcome 150 million tourists and create one million tourism-related jobs by 2030. The agreement, announced in Riyadh on July 2, 2024, underscores a strategic partnership that will enhance tourism infrastructure, share data and insights, and provide training for young Saudis, aligning with Saudi Vision 2030’s goals of economic diversification and quality of life improvement.

Context and Background

Saudi Arabia’s National Tourism Strategy is a cornerstone of Vision 2030, designed to transform the Kingdom into a global tourism destination. The strategy targets 150 million annual visits by 2030 and aims to boost tourism’s contribution to GDP to over 10%. ROSHN Group, a Public Investment Fund (PIF) company, is at the forefront of developing integrated communities and destinations across Saudi Arabia. Its portfolio includes large-scale projects that combine residential, retail, and entertainment components, positioning it as a key enabler of the tourism ecosystem.

The Ministry of Tourism, under the leadership of Minister Ahmed Al-Khateeb, has been actively forging partnerships to accelerate sector growth. This collaboration with ROSHN represents a synergy of public and private expertise, leveraging ROSHN’s development capabilities to create world-class tourism offerings.

Key Details

The Memorandum of Collaboration outlines a comprehensive framework for cooperation in developing tourism destinations, sharing data and knowledge, and implementing training programs for Saudi youth. Mahmoud Abdulhadi, Deputy Minister of Tourism Destinations Enablement, emphasized the importance of the partnership, stating, “ROSHN is a leading player nationally in developing destinations and communities, and we are looking forward to working with ROSHN to collaborate on how we can best support the Kingdom’s tourism aspirations as spelt out by the National Tourism Strategy.”

Yassen Kattan, Head of Strategy and Corporate Affairs at ROSHN Group, highlighted ROSHN’s commitment: “With a portfolio that includes communities and destinations throughout the Kingdom, ROSHN is already playing a role in promoting Saudi Arabia as a preferred place to visit. Our collaboration with the Ministry of Tourism underscores our dedication to pursuing developments that create memorable experiences for all, with a focus on quality of life and entertainment as we look to contribute to Saudi Vision 2030.”

The collaboration will also explore potential tourism investments and sector-specific opportunities, further integrating ROSHN’s developments into the national tourism landscape. This includes enhancing infrastructure, promoting cultural and entertainment offerings, and ensuring that tourism growth benefits both Saudi nationals and international visitors.

Implications and Impact

This partnership is expected to significantly boost Saudi Arabia’s tourism sector by accelerating the development of integrated destinations that appeal to global travelers. By combining ROSHN’s expertise in community development with the Ministry’s strategic oversight, the collaboration will enhance the Kingdom’s competitiveness as a tourism hub. It also supports job creation, particularly for young Saudis, through specialized training programs that prepare them for careers in hospitality, tourism management, and related fields.

Internationally, the agreement reinforces Saudi Arabia’s commitment to becoming a top global destination, attracting investment and fostering cultural exchange. It aligns with other mega-projects like NEOM and the Red Sea Project, which are reshaping the Kingdom’s tourism map.

Vision 2030 Alignment

This collaboration directly advances Vision 2030’s objectives by diversifying the economy, creating employment, and enhancing quality of life. By developing tourism destinations and infrastructure, ROSHN and the Ministry of Tourism are contributing to a vibrant society and a thriving economy, ensuring that Saudi Arabia emerges as a leading global tourism destination. The partnership exemplifies the collaborative spirit needed to achieve the ambitious targets of the National Tourism Strategy and solidify the Kingdom’s position on the world stage.

20 Questions

Q1. What is the main goal of the Memorandum of Collaboration between ROSHN Group and the Ministry of Tourism?

A1. The MoC aims to support Saudi Arabia’s National Tourism Strategy, targeting 150 million tourists and one million tourism-related jobs by 2030, through collaborative efforts in destination development, data sharing, and training.

Q2. When and where was the Memorandum of Collaboration signed?

A2. The agreement was signed in Riyadh on July 2, 2024, as reported by the Saudi Press Agency.

Q3. Who represented the Ministry of Tourism in the announcement?

A3. Mahmoud Abdulhadi, Deputy Minister of Tourism Destinations Enablement, represented the Ministry, expressing enthusiasm for the partnership.

Q4. Who represented ROSHN Group in the announcement?

A4. Yassen Kattan, Head of Strategy and Corporate Affairs at ROSHN Group, highlighted the collaboration’s importance for Saudi Vision 2030.

Q5. What are the key areas of collaboration outlined in the MoC?

A5. The collaboration includes developing tourism destinations, sharing data and insights, rolling out training programs for young Saudis, and exploring potential tourism investments.

Q6. How does ROSHN Group contribute to Saudi Arabia’s tourism industry?

A6. ROSHN develops integrated communities and destinations with retail and entertainment components, enhancing the Kingdom’s appeal as a tourist destination.

Q7. What are the targets of Saudi Arabia’s National Tourism Strategy?

A7. The strategy aims to attract 150 million tourists and create one million tourism-related jobs by 2030, while increasing tourism’s GDP contribution.

Q8. How will the partnership benefit young Saudis?

A8. It will provide training programs for various career opportunities in the tourism industry, equipping young Saudis with skills for employment.

Q9. What is the significance of this collaboration for Vision 2030?

A9. It supports economic diversification, job creation, and quality of life improvement, aligning with Vision 2030’s goals of a vibrant society and thriving economy.

Q10. What types of destinations does ROSHN develop?

A10. ROSHN develops residential communities with integrated retail, entertainment, and lifestyle amenities across Saudi Arabia.

Q11. How does data sharing factor into the collaboration?

A11. Data and insights sharing will help both entities make informed decisions to enhance tourism offerings and infrastructure.

Q12. Will the partnership explore investment opportunities?

A12. Yes, ROSHN and the Ministry will discuss potential tourism investments and sector-specific opportunities to boost the industry.

Q13. How does this MoC impact Saudi Arabia’s global tourism standing?

A13. It strengthens the Kingdom’s competitiveness as a global tourism hub, attracting international visitors and investment.

Q14. What role does the Ministry of Tourism play in this partnership?

A14. The Ministry provides strategic oversight, enabling policies, and support to realize the National Tourism Strategy’s targets.

Q15. Are there any specific projects mentioned under this collaboration?

A15. The MoC is a framework agreement; specific projects will be identified through joint efforts, focusing on destination development and training.

Q16. How does this collaboration complement other Saudi mega-projects?

A16. It aligns with projects like NEOM and the Red Sea Project, collectively enhancing Saudi Arabia’s tourism ecosystem.

Q17. What is ROSHN’s main focus as a developer?

A17. ROSHN focuses on creating integrated, sustainable communities that improve quality of life and support economic growth.

Q18. How will the partnership promote Saudi culture?

A18. By developing destinations that showcase Saudi heritage and entertainment, it will offer authentic experiences to visitors.

Q19. What economic impact is expected from this collaboration?

A19. It will stimulate tourism-related investments, create jobs, and contribute to GDP growth, supporting economic diversification.

Q20. What is the ultimate vision behind this collaboration?

A20. The ultimate vision is to position Saudi Arabia as a premier global tourism destination, achieving the ambitious goals of Vision 2030 and the National Tourism Strategy.

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