DUBAI – Saudi Arabia has announced the cancellation of fees for issuing commercial activity licenses for hotels, hotel apartments, and residential resorts, effective from Sept 4, according to the state news agency SPA.
This move is part of the kingdom’s Tourism Investment Enabler Program, launched in March, which aims to position Saudi Arabia as a leading global tourism destination. The decision aligns with the broader goals of Vision 2030, Saudi Arabia’s ambitious plan to modernize its economy and reduce reliance on oil revenues.
By eliminating these licensing fees, the kingdom hopes to attract more investors to its tourism sector, further contributing to its gross domestic product (GDP). Saudi Arabia has committed over $800 billion to diversify its economy and establish itself as a key player in global tourism.