Saudi Arabia: The head of Saudi Arabia’s new tourism investment company, ASFAR, said the firm’s long-term goal was to contribute to positioning the Kingdom as a leader in sustainable and innovative tourism.

CEO Dr. Fahad bin Mushayt, told Arab News: “ASFAR was recently launched by the Kingdom’s Public Investment Fund to play a pivotal role in shaping the future of tourism in the country.

“Our prospects for the current year were centered around introducing ASFAR to the global tourism arena, connecting with the right investors and business partners, and initiating new projects within Saudi cities to enrich the tourism landscape further,” he added.

ASFAR, which was established in July, recently concluded its first participation at the World Travel Market in London as part of the Saudi Tourism Authority, where its presence represented a strategic move in line with the Kingdom’s commitment to transforming its tourism landscape, Bin Mushayt noted.

He said: “This marked ASFAR’s first participation on a global scale, where we showcased our dedication to shaping the future of Saudi tourism.

“We brought to the forefront the immense potential held within Saudi Arabia’s promising cities and how these cities are poised to become alluring destinations for global travelers.

“(The event) provided an invaluable platform to not only highlight the richness of Saudi culture and heritage but also to present the investment opportunities available in the Kingdom’s burgeoning tourism sector. The response from visitors was incredibly positive and enthusiastic,” he added.

Bin Mushayt said company representatives had witnessed a “genuine curiosity and eagerness to explore the uncharted beauty and cultural diversity that Saudi Arabia offers,” and “many have expressed a keen interest in being part of the transformative journey unfolding in Saudi Arabia’s tourism landscape.”

Visitors were also introduced to the innovative projects and diverse investment opportunities that ASFAR was fostering with local and global investors.

Following the “significant event,” Bin Mushayt pointed out that the company’s focus would be on “nurturing and strengthening key relationships established” in London, and it was “particularly interested in further collaborations with emerging markets across Europe and Asia, for example, to co-invest in promising cities across Saudi Arabia.”

He said its primary goal would be to showcase tangible progress, highlight completed projects, and outline its ambitious roadmap for future endeavors, as it looked to take part in more travel and tourism exhibitions.

“ASFAR envisions Saudi Arabia as a globally recognized tourism hub, a destination that seamlessly blends tradition with modernity,” Bin Mushayt added. He noted that the Kingdom aimed to attract 100 million visitors by 2030 and had recently raised the target to 150 million.

“This merely comes as a reflection to our aspiration and confidence that Saudi cities will stand as iconic global tourist destinations, offering a diverse and authentic tapestry of experiences that showcase the rich heritage, natural wonders, and modern infrastructure of the Kingdom,” he said.