Saudi Arabia has announced plans to build a “semi-autonomous” visa-free travel destination along its northwestern Red Sea coast. The Red Sea area, which will include diving attractions and a nature reserve, will be developed with seed capital from the country’s Public Investment Fund.
There are suggestions that the kingdom’s strict rules on women’s veils and gender segregation could be waived in the tourist haven.The project will be built along 125 miles (200 kilometers) of coastline and is tailored toward global luxury travelers and those seeking wellness travel, a genre of tourism associated with personal well-being and health.
The resort area will be developed with seed capital from the country’s Public Investment Fund. Tourism is a key part of the Prince’s Vision 2030 plan. The plan aims to diversify and modernize Saudi society and the economy, and includes plans for keeping some of the Saudi money spent abroad each year in the country. It also calls for raising tourism revenues outside of the Islamic pilgrimage to Mecca, which Saudi Arabia overseas.
Source Credit: Bloomberg
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