Saudi Arabia has announced the elimination of fees for issuing commercial activity licenses for hotels, hotel apartments, and residential resorts, according to the Saudi Press Agency (SPA). This significant change is part of the ongoing efforts under the tourism investment enabler programme introduced in March.

Effective Change from September 4

The new regulation, which became effective on September 4, aims to bolster Saudi Arabia's transformation into a global tourism destination. The programme is one of the initiatives launched under Saudi Vision 2030, the Kingdom's strategic plan to diversify its economy away from oil dependency.

Vision 2030 and Its Impact on Tourism

Saudi Vision 2030, unveiled in 2016, focuses on positioning the Kingdom as a leading destination for international tourism. As part of this initiative, the elimination of license fees is expected to attract both domestic and foreign investments, further boosting the sector’s contribution to the country's GDP.

Boosting Tourism Investment

According to SPA, the decision aligns with the Vision 2030 goal of making Saudi Arabia one of the most prominent tourist destinations globally. This move is designed to stimulate investment in hotels and resorts, providing a competitive edge for the Kingdom in the global tourism industry.

Encouraging Foreign and Local Investment

The Saudi Press Agency noted that the removal of fees will make the investment process more attractive and seamless for both domestic and international players in the tourism sector. The impact of this change is expected to significantly contribute to the tourism sector’s growth and help the Kingdom achieve its ambitious goals under Vision 2030.