King Abdullah Economic City (KAEC) chief executive officer Fahd al-Rasheed told delegates at the Arabian Hotel Investment Conference (AHIC) in Dubai on 4 May that Saudi Arabia’s hotel and tourism industry will expand by 90 per cent over the coming six years.

“We estimate the kingdom’s tourism market will grow from SR100bn today to SR190bn by 2020,” Al Rasheed said. “We see the opportunities coming and we shall be investing in a big way in King Abdullah Economic City.”

KAEC is a privately-owned integrated industrial, commercial and residential project being developed at Rabigh on Saudi Arabia’s Red Sea coast north of Jeddah.

AHIC is organised by Bench Events and MEED.