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Why Saudi Arabia?

What to expect in Saudi Arabia?

  • 2.25 million km² surface area
  • 32 million inhabitants, including 13.5 million foreigners (AFP, last census of the country in 2022)
  • 100 million visits to the country, including 45 million domestic visits and 55 million international visits
  • A growth rate of +8.7% in 2022 and a GDP that has surpassed the 1,000 billion dollars threshold

Saudi Arabia population profile

  • Young and open: 63% of the population is under 30
  • Attracted by international brands and new products
  • High purchasing power: Saudi Arabia is one of the top 20 richest countries in the world
  • Changing concerns: health, good nutrition and well-being
  • 3 purchasing criteria for the population: price; product quality; product availability

Growth and development opportunities in Saudi Arabia

Investments - Vision 2030

Saudi Arabia is shifting towards a more diversified, non-hydrocarbon-based economy as part of its Vision 2030 goal, placing emphasis on travel, tourism, hospitality, retail, and banking sectors.

The government plans to invest $64 billion in cultural, leisure and entertainment projects over the next decade, which will considerably boost the country’s appeal as a tourist destination.

 


 

 

Hospitality

Competitive Landscape for the hospitality industry in Saudi Arabia with combination of several international brands and chain hotels and several domestically
grown chain hotels.
Saudi Arabia’s Tourism Development Fund (TDF) has announced setting up a US$ 400 billion hospitality investment fund.
The hotel industry is expected to reach a turnover of 23 billion dollars by 2026, the highest figure in
the GCC region.
Saudi Arabia aims to deliver 310,000 completed hotel rooms in the Kingdom by 2030 as part of plans to develop its hospitality market for domestic and international tourism.

 


 

Tourism

The Kingdom aims to spend $1,000 billion over the next decade to become a mass tourist destination. Tourism represents 9.4% of Saudi Arabia’s total GDP.
Saudi Arabia records 93.5 million tourists and total spending of $49.33 billion in 2022. Traveller spending in Saudi Arabia increases by 10.5% per year.
Saudi Arabia plans to attract 150 million tourists by the end of the decade, in line with Vision 2030 targets (+50%) and 55 million international tourists a year by 2030.

 


 

THIS MULTIPLICATION OF PLACES TO STAY AND EAT, INCREASES THE CAPACITY TO WELCOME TOURISTS AND THUS ALLOWS THE DEVELOPMENT OF FOOD SERVICE IN SAUDI ARABIA.

 

Food & beverage in Saudi Arabia, a fast-growing market

Saudi Arabia’s Food and Beverage (F&B) market is the largest and most attractive in the Middle East
valued at $45 billion. By 2020, the total value of food imports will reach $35 billion.
The Saudi Arabia food service market size was valued at $14.16 billion in 2022 and is expected to be worth USD 16.02 billion in 2023 and is projected to reach $34.04 billion by 2030, recording a
CAGR of 11.37% during the forecast period.
Saudi Arabia eyes $20 billion investments in food industry by 2035.

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