With nearly 80% of new hotel developments targeting the high-end segment, Saudi Arabia is rapidly positioning itself as a global luxury destination. This strategic move aligns perfectly with the country’s Vision 2030, which identifies tourism as a central engine for economic diversification.
According to a report by Knight Frank, the Kingdom aims to offer 362,000 hotel rooms by 2030, with a goal of welcoming 150 million visitors annually. By early 2025, more than 167,000 rooms will already be operational, 61% of which fall within the premium segment. An additional 99,500 rooms are currently under development, with 78% earmarked for luxury resorts, upscale business hotels, and four- and five-star properties.
The sector is already showing impressive results: in 2024, it generated over $40 billion, with annual growth of 13.8% and 30 million international arrivals. While religious pilgrimages remain a core driver, the tourism mix is evolving: 30% of visitors now come for leisure, 24% for family reasons, with business and education segments also on the rise. The introduction of an eVisa platform, available to travelers from 66 countries including Italy, the United States, the United Kingdom, China, and Japan, has made access easier and boosted Saudi Arabia’s global competitiveness.
Major upcoming events, including the 2029 Asian Games, Expo 2030, and the FIFA World Cup in 2034, are set to further fuel demand, requiring a rapid expansion of the Kingdom’s hospitality infrastructure.
For Italian businesses, tangible opportunities are taking shape, ranging from partnerships with hotel chains and tourism technology providers to collaborations in architecture, design, premium food & beverage, and high-end hospitality services. In a fast-evolving ecosystem backed by significant capital, those who bring quality, vision, and execution capacity will find fertile ground for ambitious, long-term projects.
