Tourism

imported 2024-03-17 17:43:06

Saudi Arabia – No Longer a One-Basket Economy

The Kingdom of Saudi Arabia and oil are some of the oldest synonyms in contemporary history. But the kingdom has more to offer than black gold, and the government in Riyadh is working tenaciously to diversify the economy. “If you compare it by GDP, oil represents 85 percent in Saudi Arabia,” says Abdulrahim Al-Zamil, Chairman of the multi-industry conglomerate Zamil Group.

Tourism in Saudi Arabia: A Growing Niche

The tourism and service industry could be the providential answer to the pressing unemployment issues in the Kingdom. According to the country’s master economic and industrial development plan through the year 2025, the total Saudi labor force in 2009 consisted of 4,885,960 workers. That figure is projected to grow to 11,850,180 by the end of the planning period.

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