Evaluating the Effectiveness of Saudi Government Policies, Funding, and Regulations in Promoting Tourism Sector Growth

Abstract

The goal of this dissertation is to determine how well Saudi Arabian government policies, financing sources, and regulatory frameworks support the development of the tourist industry, which is a key component of the Kingdom's Vision 2030 project. The study's main objective is to assess the results of significant tourism initiatives, such as Saudi Seasons, NEOM, and the Red Sea Project, which are meant to diversify the country's economy and lessen its dependency on oil earnings. The study looks at how government initiatives have affected the tourism industry's efforts to promote culture, diversify the economy, and preserve the environment. By employing a qualitative approach that involves conducting interviews with government officials and tourism experts, the study pinpoints crucial topics like infrastructure development, public-private partnerships, and regulatory reforms that have enabled the tourism sector to flourish. Key findings show that the Kingdom's global tourism competitiveness has increased as a result of the proactive strategy taken by the Saudi government, notably through large-scale investments and the relaxation of visa requirements, which have drawn foreign investment and tourists. Nonetheless, there are also issues with labour training, developing infrastructure in rural places, and the requirement for increased local stakeholder participation. The report ends with suggestions for enhancing the way policies are implemented, such as encouraging regional entrepreneurship, developing tourism infrastructure in undeveloped areas, and stressing eco-friendly travel methods. In the larger framework of Vision 2030, this study offers important insights on the development and future course of Saudi Arabia's tourist industry.