Saudi Arabia dominates Middle East hotel expansion with 50% of development pipeline
- Saudi Arabia leads the Middle East in hotel expansion with 110,000 rooms, accounting for about 50% of the region's development pipeline.
- The hotel development projects are concentrated in key areas including Riyadh, Makkah, Madinah, Diriyah, Neom, and the Red Sea.
- A broader $90 billion development wave across the Gulf Cooperation Council and North Africa is expected to increase regional hotel supply by 27%.
- Over 55% of the upcoming hotels are slated for delivery between now and 2030, with 88,000 rooms currently under construction and 25,000 in planning stages.
- Saudi Arabia aims to attract 150 million visitors by 2030, exceeding its original goal of 100 million, highlighting the growing tourism sector's demand for accommodation.
- The Ministry of Tourism plans to increase hotel rooms to over 550,000 by 2030, with tourism expected to contribute 10% to the GDP.
