NEWS
Saudi Arabia’s Red Sea Project
Saudi Arabia plans to turn swathes of its untouched Red Sea coastline into a global tourism destination fitted with luxury hotels and transport hubs, as part of a masterplan to reduce the economy’s reliance on oil.
The Red Sea project will cover more than 30,000 square kilometers between the cities of Umluj and Al Wajh, boasting 50 islands, beaches as well as dormant volcanoes, according to a statement released late on Monday. Tourists from most nationalities will not require a visa or will be able to obtain one online.
The project, which will be developed by the kingdom’s sovereign wealth fund, fits into Crown Prince Mohammed bin Salman’s efforts to transform the biggest Arab economy after the plunge in oil prices. As part of the plan, known as Vision 2030, the conservative kingdom is relaxing the rules on its entertainment and tourism industry as authorities seek to bolster non-oil revenue and create more jobs.
If successful, the Red Sea project will transform a tourism industry that relies almost solely on millions of Muslim pilgrims visiting holy shrines in Mecca. The kingdom, which practices a strict version of Sunni Islam, bans alcohol, imposes a strict dress code and has curbs on gender mixing.
The project will create as many as 35,000 jobs “once it’s up and running” as well as contribute 15 billion riyals ($4 billion) to Saudi Arabia’s gross domestic product, according to the statement. The Public Investment Fund, headed by Prince Mohammed, will inject initial investments into the project and start partnerships with international companies.
Visitors will also have access to the ancient ruins at Mada’in Saleh, a relic of the same ancient civilization that built the better-known city of Petra in Jordan and the first place in Saudi Arabia to be classified as a UNESCO Heritage site.
