Submit Press release  ˇ eTN Team ·  Advertising  ·  eTN Awards  - Worldtourism Events    

Saudi Investment Market

STTIM, your investment gateway to Saudi Arabia travel and tourism industry

Motaz Othman, eTN  Feb 06, 2011

(eTN) - Under the patronization of HRH Prince Salman bin Abdul Aziz, Amir of Riyadh, the 4th Saudi Travel and Tourism Investment Market (STTIM) will be held between March 27-31 at Riyadh International Exhibition Center, organized by the Saudi Commission for Tourism & Antiquities (SCTA) in Riyadh City, Capital of Saudi Arabia.

The Steering Committee of the Saudi Travel and Tourism Investment Market recently held a preparatory meeting for the upcoming exhibition, which will be held under the theme "Tourism for All - Partnership for Sustainable Development." The meeting discussed the latest preparations, reviewed work progress, and planning for the forum.

Mr. Abdullah bin Salman Al Jehani, Vice President of SCTA for Marketing and Information Affairs and Head of the Steering Committee, talked about the stages of preparations that have been reached by the executive committee and discussed the most significant features of the forum's workshops, exhibition, and accompanied events.

Al Jehani further stated that the forum will be one of the most important gatherings to be held in the kingdom, hence it’s early and intensive preparations and exerted efforts by the steering committee for ensuring distinction of its themes and key speakers.

Speakers in the conference will talk during two days of sessions about different topics including finance, recruiting, training, and other important affairs about the travel and tourism industry in Saudi Arabia, including tourism investment in the kingdom.

Tourism investments are considered to be the focal point of tourism development in general since it provides economic income and job opportunities, in addition to improving basic and secondary eco-tourism facilities. From this point, the Saudi Commission for Tourism and Antiquities has extended its support, guidance, and service to tourism investment in all possible ways for its significance in achieving the vision and objectives of the national strategy for tourism development.

Over the past few years, the Saudi Commission for Tourism & Antiquities has prepared plans for the development of a number of tourism destinations and has worked on finding a number of investment opportunities such as investing in eco-lodges and rural guest houses, studies providing investment incentives, eliminating obstacles of tourism investment, the establishment of tourist investment service centers in the regions, establishing exhibitions and forums related to tourism investment, participation in international 21 travel, and tourism investment forums and exhibitions.

SCTA has also completed a number of important measures aimed at facilitating investments and services such as: a review of economic feasibility studies, preparation of investment models suitable for each project and the legal approval of some of them, the establishment of systematic frameworks to found developers, the establishment and development of databases for investment opportunities, and the commencement of the study for the future vision for tourism.

With regard to the provision of investment incentives, work is ongoing for the preparation of documents for cooperation with those that support the investment environment, in addition to signed agreements with some agencies such as the Saudi Credit Bank, the Centennial Fund, and the Council of Chambers of Commerce and Industry. Agreements are also being updated with a number of related agencies.

STTIM will focus on the issues of the integrated tourism experience concerning supply and demand, as well as development. The accompanied exhibition will witness a large participation from tourism development councils provincially that intend to market their locations as tourism destinations.

For his part, Dr. Hamad Al Smaeel, Assistant Vice President of SCTA for Investment, spoke about the investment aspects that will be reached by the forum, adding that there are two sessions devoted for discussing public measures applied on licensing and execution of investment projects and their funding avenues, in addition to a number of specialized workshops on tourism investment issues.

Dr. Abdullah Al Washeel, Director General of Takamul, clarified the importance of the forum as a means to continue providing tourism as an important economic resource for tackling employment issues. He added that the forum will devote a full session to discuss opportunities and challenges of tourism employment in addition to a presentation on how to exploit it for creating new jobs through various areas of tourism in the kingdom.

The Saudi Commission for Tourism & Antiquities established the Tourism Investment Service Center (TISC) with the aim of providing essential services and facilities for a convenient investment environment, such as receiving tourism investment inquiries and applications, conducting preliminary assessment, providing consultancy services, and submitting forms and applications to relevant SCTA departments and providing information on tourism travel and investment market in Saudi Arabia, along with promoting local tourism investment opportunities.

In addition, SCTA updates investors with the latest information on the rules and regulations of the tourism investment sector and offering databases for local investors in each province and providing them with relative tourism investment pamphlets and brochures. The commission also introduces the facilities and incentives provided to investors and provides training assistance and guidance, as well as field surveys and research conducted by the relevant departments, if available.

Contact for the General Secretariat for the Tourism Investment service center: Riyadh / Kingdom of Saudi Arabia, Tel: +966 1 8808855, Fax: + 966 1 8808844, P.O. Box 66680 Riyadh 11586, Web: , Email:

STTIM, your investment gateway to Saudi Arabia travel and tourism industry
Image from STTIM

Premium Partners