Riyadh forum highlights Kingdom’s vision for healthcare and tourism
Saudi Deputy Minister of Investment Transaction Saleh Al-Khabti said that the healthcare sector’s contribution to the Kingdom’s gross domestic product is projected to reach about $66.6 billion, with the creation of more than 245,000 jobs by 2030. Al-Khabti shared the information during a panel discussion at the Health Tourism Future Forum in Riyadh on Sunday.
The forum, which this year coincides with the eighth anniversary of the launch of Saudi Arabia’s Vision 2030, is an annual global platform for the health tourism industry aiming to develop future strategies in the Kingdom’s healthcare sector. The global healthcare industry is estimated to be worth $4.4 trillion.
Al-Khabti said that significant investment is needed in the Saudi healthcare sector over the next seven years, much of which will be driven by the National Investment Strategy.
“Regarding foreign direct investment, Saudi Arabia reached about $19 billion, a three-time increase since 2017,” he said. Ahmed Al-Ouraij, president of
the Health Tourism Association, said that the forum marked the beginning of the first specialized health tourism initiatives.
Health tourism involves individuals traveling to another country for medical treatment or wellness services. The sector has grown rapidly in recent years due to increasing healthcare costs in many countries and advances in medical technology and expertise in specific regions.
Mahmoud Abdulhadi, deputy minister of tourism for destination enablement, mentioned that Saudi Arabia’s tourism industry has made significant progress, exceeding its target of 106 million visitors seven years ahead of schedule.
“The total amount spent on
the total population of visitors was about $66.6 billion, a direct contribution to the economy,” Abdulhadi said.
The deputy minister also said that about 10 percent of all employment rates globally come from the tourism or tourismrelated sectors. In Saudi Arabia, tourism contributes 4 percent to the national GDP.
“Tourism is a key contributor to Vision 2030 because it creates employment. When we started our journey in 2019, we had 600,000 employees in the sector, and today we have 925,000.”
Abdulhadi added that increasing the number of employees to 1.6 million by 2030 seemed on target, given the current trajectory.