JEDDAH: According to an economist, additional visa liberalization, such as lowering fees and increasing access to e-visas, might help Saudi Arabia draw in more tourists and develop a self-sufficient tourism industry.
Speaking on a panel at the Future Hospitality Summit in Riyadh, Oxford Economics’ head economist for the Middle East, Scott Livermore, stated that improved travel access will support the expansion of one of the industries at the heart of Saudi Arabia’s diversification strategies.
The remarks coincide with Saudi Arabia’s Vision 2030 reforms, which are intended to diversify the economy away from oil, increase private sector involvement, and create new growth sectors including tourism, entertainment, logistics, and technology. That will continue to push the visitor numbers and create that self-sustaining ecosystem for the tourism sector, and you can pick similar examples across the different sectors of the economy,” he stated.
According to Livermore, Saudi Arabia has moved beyond the early stages of its economic reforms and is now focusing on creating productive, self-sustaining industries that can expand without substantial government assistance. The Kingdom has made significant progress, he added. “The government has been doing a good set of reforms, and we’re seeing those bear fruits.
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