Saudi Arabia Eliminates Fees for Hotel Licenses to Boost Tourism
Saudi Arabia has announced the removal of fees for issuing commercial activity licenses for hotels, hotel apartments, and residential resorts as part of its Tourism Investment Enabler Program. This move aligns with Vision 2030, aiming to transform the kingdom into a global tourism destination and diversify its economy.
Saudi Arabia has decided to cancel fees for issuing commercial activity licenses for hotels, hotel apartments, and residential resorts, the state news agency SPA reported on Wednesday.
The decision, which takes effect on September 4, is part of the Tourism Investment Enabler Program launched in March. This initiative aims to elevate the kingdom as a global tourism powerhouse, aligning with the goals of Saudi Arabia's Vision 2030, according to SPA.
The program is expected to encourage more investment in the tourism sector, thereby boosting its contribution to the gross domestic product. Vision 2030 aims to modernize the Gulf Arab state and reduce its reliance on oil revenues by investing over $800 billion to diversify its economy.
(With inputs from agencies.)
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