Arab News, Mon, Nov 27, 2023 | Jumada Al-Uola 13, 1445
Saudi tourism investment firm ASFAR looking to shape Kingdom’s sustainable future
Saudi Arabia:
The head of Saudi Arabia’s new tourism investment company, ASFAR, said the
firm’s long-term goal was to contribute to positioning the Kingdom as a leader
in sustainable and innovative tourism.
CEO Dr. Fahad bin Mushayt, told Arab News: “ASFAR
was recently launched by the Kingdom’s Public Investment Fund to play a pivotal
role in shaping the future of tourism in the country.
“Our prospects for the current year were centered
around introducing ASFAR to the global tourism arena, connecting with the right
investors and business partners, and initiating new projects within Saudi cities
to enrich the tourism landscape further,” he added.
ASFAR, which was established in July, recently
concluded its first participation at the World Travel Market in London as part
of the Saudi Tourism Authority, where its presence represented a strategic move
in line with the Kingdom’s commitment to transforming its tourism landscape, Bin
Mushayt noted.
He said: “This marked ASFAR’s first participation
on a global scale, where we showcased our dedication to shaping the future of
Saudi tourism.
“We brought to the forefront the immense potential
held within Saudi Arabia’s promising cities and how these cities are poised to
become alluring destinations for global travelers.
“(The event) provided an invaluable platform to
not only highlight the richness of Saudi culture and heritage but also to
present the investment opportunities available in the Kingdom’s burgeoning
tourism sector. The response from visitors was incredibly positive and
enthusiastic,” he added.
Bin Mushayt said company representatives had
witnessed a “genuine curiosity and eagerness to explore the uncharted beauty and
cultural diversity that Saudi Arabia offers,” and “many have expressed a keen
interest in being part of the transformative journey unfolding in Saudi Arabia’s
tourism landscape.”
Visitors were also introduced to the innovative
projects and diverse investment opportunities that ASFAR was fostering with
local and global investors.
Following the “significant event,” Bin Mushayt
pointed out that the company’s focus would be on “nurturing and strengthening
key relationships established” in London, and it was “particularly interested in
further collaborations with emerging markets across Europe and Asia, for
example, to co-invest in promising cities across Saudi Arabia.”
He said its primary goal would be to showcase
tangible progress, highlight completed projects, and outline its ambitious
roadmap for future endeavors, as it looked to take part in more travel and
tourism exhibitions.
“ASFAR envisions Saudi Arabia as a globally
recognized tourism hub, a destination that seamlessly blends tradition with
modernity,” Bin Mushayt added. He noted that the Kingdom aimed to attract 100
million visitors by 2030 and had recently raised the target to 150 million.
“This merely comes as a reflection to our
aspiration and confidence that Saudi cities will stand as iconic global tourist
destinations, offering a diverse and authentic tapestry of experiences that
showcase the rich heritage, natural wonders, and modern infrastructure of the
Kingdom,” he said.