RIYADH. Global and regional hospitality companies announced $113 billion in combined investments to accelerate tourism sector growth and infrastructure development during the first day of the inaugural TOURISE Summit, launching here under the patronage of Crown Prince Mohammed bin Salman.
The summit, running through November 13 at the King Abdulaziz International Conference Center, brings together leading decision-makers, investors, and innovators from tourism and related sectors to forge public-private partnerships and develop sector-wide solutions.
International and regional players committing capital include Melia Hotels, BWH Hotels, GOCO Hospitality, Radisson, Earth Hotels, Delonix, and Ocean Link, alongside Saudi firms AlFozan Holding, Al Kathiri Holding, Alothaim, Cenomi, and Knowledge Economic City.
The investments will focus on infrastructure development, human-capital building, and deployment of advanced technologies in data analytics, design, and hospitality operations. Organizers expect these initiatives to create quality employment opportunities while raising visitor experience standards across the Kingdom.
“TOURISE has brought investors, policymakers, and innovators together to turn visions into strategic partnerships and high-impact deals,” said Ahmed Al-Khateeb, Minister of Tourism and TOURISE chairman. “We will reshape the future of the traveler economy, powered by AI and committed to destination excellence, to ensure sustainable growth across the entire ecosystem.”
The investments underscore Saudi Arabia’s positioning as a global tourism hub that merges cultural heritage with technological innovation and world-class hospitality infrastructure.