BEYOND 2030: FUTURE SAUDI •
Sustainability and Net Zero goals are among the post-2030 priorities and Saudi companies develop wider international interests, business travel should increasingly work in both directions, bringing executives and delegates into Saudi Arabia while sending Saudi professionals, buyers and investors into global markets. as commercially sustainable businesses. Some destinations already have milestones well beyond 2030. AlUla is targeting two million annual visits by 2035, with its latest annual report projecting 40,500 new jobs as its economy develops across tourism, culture and other sectors. Its Journey Through Time masterplan was designed with that longer horizon from the outset. Events provide another bridge. Expo 2030 Riyadh will run until March 2031 and its site is intended to become a permanent Global Village rather than disappear once the gates close. Then comes the FIFA World Cup in 2034, extending the incentive for investment in accommodation, transport, venues, destination services and skills well into the following decade. Business tourism should mature alongside leisure. Saudi Arabia’s MICE market is forecast to reach $5.65 billion by 2031, with conferences currently its largest segment and incentive travel among the fastest growing. As Riyadh grows as a corporate centre FROM BUILDING TO BUSINESS For travel and tourism, that points towards a different kind of decade. The 2020s have been characterised by openings, construction, visitor targets and the creation of destinations at extraordinary speed. The 2030s should increasingly be about operating them well: generating repeat demand, extending stays, improving yield, attracting private capital and ensuring resorts, attractions, airlines and event venues perform
A POWERFUL OUTBOUND FORCE Demographics add another layer. OECD projections put Saudi Arabia’s population at around 44.2 million by 2040, compared with 35.3 million in 2025. More importantly for the travel industry, today’s exceptionally young Saudi population will move through the 2030s into prime earning, family and business-travel years. The commercial effect is already visible. Coherent Market Insights estimates Saudi outbound tourism at $29.8 billion in 2026 and forecasts it to reach $52.4 billion by 2033. Families remain the largest traveller segment, while leisure, business travel and MICE all form part of an increasingly diverse outbound market. That creates a sizeable opportunity for destinations outside Saudi Arabia. Airlines, hotels, cruise lines, attractions and tourism boards will be competing for a larger pool of Saudi travellers with the means and confidence to explore internationally. The next phase is likely to reward businesses that understand Saudi travellers in greater depth – different generations, family structures, interests and budgets – rather than treating them as a single luxury segment. Expanded aviation reinforces that two-way traffic. Newcomer Riyadh Air is targeting more than 100 destinations by 2030, with its network designed to connect Saudi Arabia with major business, cultural and tourism centres and to link Europe and the Americas with markets across the Middle East and Asia. The infrastructure created to bring visitors into Saudi Arabia will make it easier for Saudis to travel out too. A WIDER INVESTMENT FOOTPRINT The outward story extends beyond consumers. PIF’s current strategy explicitly combines domestic economic development with investment in international markets, global partnerships and the creation of Saudi national champions capable of scaling overseas. Travel provides some early signals of what that could mean. PIF owns approximately 15% of Heathrow Airport, describing the investment as part of its global portfolio and commitment to the airport’s sustainable growth, while in 2023, it bought a 49% minority stake in European luxury hotel chain Rocco Forte Hotels to fund global portfolio expansion. More strikingly, Red Sea Global CEO John Pagano revealed in 2025 that the developer was preparing its first tourism and hospitality project outside Saudi Arabia, in Italy, saying its ambitions extended beyond the Saudi market. That development is significant. The expertise accumulated in Saudi Arabia – destination development, regenerative tourism, hospitality, events,
Sustainability and Net Zero goals are among the post-2030 priorities
Saudi's outbound business travel market will grow at pace
SPOTLIGHT RIYADH | 95
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