Inside Saudi Arabia’s $800 Billion Travel Destination Transformation | Forbes
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- Опубликовано: 13 июн 2024
- Saudi Arabia is on a massive building spree-creating private islands, luxury hotels, theme parks, cruise ports, and even a desert ski resort. The question remains: If they build it, who will come?
It can be difficult to visualize the vastness of Saudi Arabia’s physical transformation. Some of the most notable ongoing projects-including Sindalah, a 7-star private island, and Trojena, an improbable desert ski resort-fall within NEOM, a $500-billion built-from-scratch region in northwest Saudi Arabia where the Kingdom is creating new cities, resorts and other developments. Bankrolled mainly by the Kingdom’s $700-billion Public Investment Fund (PIF), the idea for NEOM was born out of Vision 2030, Saudi Arabia’s grand plan to shake off its historic reliance on oil and diversify its economy, reinventing the country as a global tourism juggernaut.
Euromonitor predicts that international tourists will spend $38 billion in 2030. But the total economic impact for Saudi Arabia will be far greater after adding in domestic travelers’ expenditures and the ripple effect of one million new tourism jobs. The World Travel & Tourism Council projects that, by 2032, Saudi Arabia’s tourism sector could contribute nearly $169 billion to its GDP, representing 17.1% of the total Saudi economy.
00:00 Intro
00:24 New Cities, Resorts, and Hotels
02:05 Saudi Arabia’s Tourism Moonshot
03:09 Foreign Travelers in Saudi Arabia
04:39 Preparing For The Future
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Why does this whole segment feel empty like Suaid Arabia payed for it?
I would be really glad to visit Saudi Arabia as it will be really near to me.Maybe I would visit it every 2-3 years if it turns out great!
Always watching from Georgetown Guyana south America 🇬🇾🇬🇾🇬🇾
الحمدالله ربيًً على النعم التي أنعمت بها. الارض المقدسه
If you're planning a trip ask about complimentary hotel stays. Rather than have a vacant room they hotels will offer these complimentary stays in hopes you spend in other ways
This like Saudi Arabia policy makers waking up and suddenly wanting to be the next Dubai. 😅
So? the being developmen and you keep being envious 😅
You are envious
Dmb fck.This was planned long ago.
Who said we want to be Dubai? Who said development is restricted to a city? Dubai lacks of UAE’ identity unlike KSA cities.
Our future is unique in all aspects.
نفتخر بالسعوديه 🇸🇦❤
خطوه جيده بالتوفيق
ماشاءالله تبارك الله
It's very obvious that Saudi Arabia knows something we don't. Oil economy is on it's way out and they are replacing it with tourism. This should be the bigger news here, What does the Saudi's know about the future of Oil?
With VR… We won't need to actually go there.
Go watch mbs views on future of oil
All the Arab Oil states in the have been trying to shift their economy for sometime now. The biggest success is Qatar and the UAE. Imam has done a decent job as well. They’ve know the dominance of fossil fuels come to an end. Saudi Arabia couldn’t shift their economy due to the extreme conservatism in the state. They’re doing a better job lifting that though.
oil is going nowhere. maybe less daily output but just look at the EV reversal lately
The earth makes more oil through chemical reactions than we use. Oil is not going anywhere.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $400k portfolio is down by approximately 20 %, any recommendations to scale up my ROI before retirement will be highly appreciated.
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
It comes down to technique; a downtrend gives you room to focus on the market and grow significantly in the short or long term. While it is easier to make money when the market is rising, a downtrend can still yield high returns if you have the necessary knowledge and skills. For this reason, I have been scaling up during this difficult period by working with an investment advisor; this has been the only way I have raised up to $150K in the last six months.
@@LucaHolloway-
One of the fiduciaries I deal with is Alicia Ann Jordan. Just check the name. There would be a letter with the necessary information to set up an appointment.
One thing that is sort-of interesting though - there seems to be no fear of sea-level rises amid spending countless billions on new beach cities, fake islands etc. No extra beach building either. The same has been and still is the case in UAE, Bahrain and Qatar. Come to think of it - all over the world where there is no tectonic plate (crustal) subduction or subsidence - this is the case.
There's already technology to fight that just dig the sea and beach it more
@@muazunais2378 Dig the sea!!??😂
@@JoshuahnJackstonburg seems like 1st world country education is far backwards lmao, the sea levels does increase but it's just couple of millimeters and centimeters an year but that can easily fought back by land reclamation that's what most countries do including the maldives.
@@muazunais2378 Yet they don't - so 1st world education is lying.
@@JoshuahnJackstonburg cuz still there isn't a need to reclaim land, when the need arrives the government will decide on that
رائعه
5:06-5:14: I had that same thought as well.
I'm lk glad we have countries with a massive, sandy canvas and a ton of oil to create whatever they want on it.
I was born there. Embrace petroleum or starvation- 'sand will cover this place. sand will cover you'- Frank Herbert
Nonsense 😂
ungrateful
And water will flood ur country😂
Yes I know floods Will be a problem for my country.. Will try to Make artificial lakes... But right now we are in a drought... The last 9 months have been récord breaking temperatures this summes you Will feel it too. Things are starting to change... @@user-hi9cl6vt4c
في النهايه اقول. الحمدالله
عظيم جدن رائعه للغايه
Liquor is still banned.
It will be legalised soon
good
yes. freedom= being able to get drunk and eating pork.
@@jerrynadler2883 Also your exwife taking your home, money and children.
@@righteousone1 Don't forget being eternally indebted to the State to get a degree.
Mashallah beautiful ❤️
Amazing
ماشاء الله تبارك الله
رائع
ماشاء الله ❤️.
Wow❤
تحول المملكه. بشكلً. كبير لما حباها الله عزوجل. من خيرات
Well done Saudi Arabia. Such a great vision a new market and will benefit everyone.
❤❤روعه
the middle east is really having a moment. it's beautiful to watch. Africa, when will you wake up? 😢
Why are you talking about Africa as a one unified country?
روعه للغايه
Nice
nice
Wait a second why does this sound like a advertisement
The new city Saudi Arabia scored beautiful nice excellent Project mission 2030
Thats quite a travel destination! GJ!
Wooow this saudi arbia
الخدمات التي تقدمها المملكه. للشعب بل لكافة الوافدين اليها
Nice Video
Soy español pero me gustaría ir a Arabia
Bienvenido!🎉🎉🎉
zero desire to visit countries were human rights are violated
WEST?
Better avoid all countries then and live in your basement.
رايع
Under the Vision 2030 plan, Prince Mohammed has brought in several multibillion-dollar projects to put Saudi Arabia on the map for innovation, tech and youth-driven initiatives."We have big opportunities in front of us in different sectors and we have to exploit them to continue to grow and prosper," he said on the Liwan Al Mudaifer Show.
Estimates are far over valued. The natural reserves of oil are expected to run out in the next 5-10 years. If they are spending everything they have on these projects I don't think the country can be sustainable and some projects will be left underdeveloped like UAE. Also if everything is luxury who can afford to visit?
Saudi Arabia will benefit from oil for many decades, even if they do not depend on it like before
عظيم جدا
I would love to go, but I do like my cocktails 🍸
When its done , it will be avalible
There will not be same laws applied as in rest of Saudi.
stay home then
Kindly stay where you are
Lol...
I highly doubt Saudi Arabia gets a lot of tourist with the way the run the country and their religious police. Most people would rather go to the already established and more friendly UAE.
Saudi recieved more visitors than uae I would like to go both saudi and uae
This is incorrect, Saudi is booming with tourists.
@@AbdikarimMohamed-fh8jo that’s mostly because of Islam’s 2 holy sites in Mecca and Medina but Saudi Arabia doesn’t make anywhere near to what the UAE makes from tourism.
@@Anonymous-wy5dc it’s a big difference between tourist coming to visits it’s holy sites for religious reason and people coming to the country for vacation and to spend money.
@anthonyk423 so in 2023 17 million visited for Riyadh season not for realigious and also if 17 million visited for Riyadh season how much do you think after everything is established in 2030?
تقدم افضل
❤Can't wait Great Secret History, Martian landscape
Nothing there appeals to me. They should invest into industry and education instead of trying to impress outsiders
Well thats show how close minded you are I suggest you educate yourself
They're already doing all of that.
they already did they have good universties still industry yes they need to do more
They already have the best universities in the Middle East
The point of education is that future intelligencia can come up with ideas, tools, and technologies that would expand & multiply the productivity of a country, not that the point of education is to just host good universities
38 mil tourists spending 1k each by 2030 doesn't scream luxury 7 star to me
رائعه المملكه العربيه السعوديه. بلاد الحرمين الشرفين
Saudi Arabia is like Phoenix without cold beer.
This will unfortunetly will not work
That’s what they said abt Dubai…
@@piegangxbankroll8970 right? Terrible. They don’t have anything that sets them apart like man made islands or beautiful high rise buildings. Could be a great city but they lack these essentials.
Well unfortunately for you, they're already one of the richest countries in the world. Turks crying left and right
@@piegangxbankroll8970 Yeah it's very good, if you can't afford then don't bark
@@NadidLinchestein you probably barking cause a dog
Suddenly everybody in the comment section become experts in politics, economics, tourism and even geologists and want to teach the Saudi government how to do things better *SMH*
Nice country
Saudi Arabia ❤ is one of the best places that you can ever imagine to visit❤️. Saudi Arabia you will meet kind and respectful people from all over the world 🌎 dealing with you with the full hospitality you can ever thought you’re gonna have❤️.
Are they building a bone saw museum too?
The MBS museum...
That’s hypocritical coming from you
So KSA has money for this but have a completely privatised system for most social services. K
Built for the rich by the rich sad
I like it
Ad
Good content ❤
What I do not understand is the long term ROI of such massive investments knowing that based on the World Bank climate projections for Saudi Arabia, the maximum daily temperature in the Summer could hit nearly 51 degrees Celsius taking into account a moderately bad pathway. Do planners expect tourists to stay indoors during their entire stay in the kingdom?
what was this glass wall in the desert?
The line
Amazing! Just on time. I mean the dollar domination could come to an end. There is a great resistance of maintaining the actual system which lead to a huge gap in equity across the world. lack of development in countries where purchase of gasoline is almost impossible.
البلاد آلسعوديه تستحق الوفود اليها
Hmm, looks cool but my concern is the demand, are there enough wealthy travelers in the world to populate these resorts? I think not, more and more, at least Americans, are sinking into poverty, lower and middle class people (85% of the population) can NOT afford to travel, so I think these tourism and resort investments will not get the return they're seeking.
Ma man, you are actually falling for the media videos of that. The numbers and percentages tell a different story. Of course, not denying that there are financial issues in USA for example, for Americans, but there are millions of middle class and above, just in USA, without mentioning other countries in the world that also have big numbers.
Saudi Arabia will be a tourist destination par excelence. The world will be surprized at what the Saudis are building now. It's a matter of time only. Wait and you will see. Best of luck and keep going.
Greetings from an Algerian in London.
Quiero decir, un solo megaproyecto q valga 800 mil millones €???
There is no way they will get these numbers, not when a simple tourist visa costs $131 or more.
All of that construction and they don't have sewers😮
Like Detroit? 😂
They use women as sewers : )
@@chuckscott-cy7iq this is not the western baby where woman starting OF etc 😂😂😂😂
Why need sewer when you can have burj khalifa
@@nashemee2573 All wn are the same : )
Innovation and technology is prerequisite to ensure secure economic future of the major nations which saudi lacks
The religious police were disbanded years ago and the rules for women has progressed dramatically. Women are not required to cover their heads - go around RIyadh, see it for yourself. Women are engaged in the work force, education and are Chairpersons of many of these large projects. Doctors, lawyers, bankers, financiers and the like - women abound. Go there - speak to people - hit the ground, and then talk. I am an Australian national and was blown away - where perception meets reality, understanding emerges.
A city for esports and gaming....
Very sustainable duh
“We want to live a normal life. A life in which our religion translates to tolerance, to our traditions of kindness,” he told international business leaders at a conference in Riyadh last year.
But there's no Aman Hotel
Saudi Arabia will a worldwide destination soon with the varieties available from nature to religion
Zero chance of me giving KSA one cent of my tourism spend anytime soon.
Oo please they need your money
You can't afford saudi
😂
@@user-nf3zv6sp7k so far Saudi is so affordable, nothing great there so far and very boring place. Hope it changes in a decade as lot of them ready ready to make a profit (we missed that in Dubai but made good profit from Qatar before WC and hope to replicate the same from Saudi soon). Hope soon Saudi will be liberal like Dubai ,without that it’s just be like Qatar.
Yeah real talk i dont like saudi arabia
I doubt you have any tbh
I swear a child running Saudi Arabia would be able to invest the oil money more wisely
A child is running Saudi.
You build it , people will come .
2:01
Not gonna lie but this interesting
So, when are they opening Jurassic Park??
1980-2020 best life experience ❤
Only if you are male, rich, don’t speak your mind and hope the religious police don’t look at you crosseyed. Soooo many other places in the world to explore why go to a Saudi Arabia?
@@VegasVaron Go wave your little rainbow flag in Vegas.
Really 800 billion, correct it😂
Their grandfather and great grandfathers were camel riders and they will also eventually turn into camel riders.
But… They will be riding virtual camels.
Couldn’t be more proud 😍 🐪
Nah, we ride Rolls royce and you can stay homeless
@@NadidLinchestein Good for you, guess who controls your gasoline
Camel ridding is wrong now? We use to ride camel and horses and we are ready to embrace the future why don't you want us to devolope?
I think they are expecting more Guests from Israel lol
Israel and entire world
I can go as far as saying that they are preparing to start a demographic change in the north and give the land to Israel
7 star? What does that even mean???
You could find the generic luxury hotels and car centric city design everywhere. There's literally no reason to travel there. If you want to attract tourism you need have a culture first
I consider myself to be neutral, but I wonder what do you mean by culture?
And they do have a very rich culture and it is embedded in almost every city of the kingdom. Go to Najd or Dirriya where the kingdom started almost 300 years ago.
Saoudi Arabia doesn’t want to rely on oil, but they bet on international tourism ? 😅
They're trying, but people are not convinced. they need to get rid of islam first.
It’s like they never heard of climate change lol😂
I think they overestimate the number of millionaire travelers.
'Who will come?' - Not me, I won't have anything to do with that backwards part of the world.
I don't think you could afford it anyway 😢.
Who wants to see you anyway?
Without alcohol most people won’t want to visit
I’m impressed with S.A. Airports because they have cafes that serves genuine Middle East Cuisine Not expensive!
how can i feature on forbes?
How much money do you have?
I can see why they are seeking a military arrangement with the Israelis.
america should do that as well..
This is the last thing we need right now on our planet..