2023-05-01 11:49:06
He emphasized that the cities of Makkah, Jeddah and Riyadh were the most popular destinations for domestic travel, while Bangkok and Istanbul were the best international destinations for Saudis and Gulf nationals.
In an interview with Al-Arabiya, today, Monday, Fahd Al-Obailan, CEO of Tourism Operations Department at Al-Musafir Company, said that the Public Investment Fund signed a non-binding agreement to acquire 30% of the shares of Al-Musafir Company, at a value of 1.554 billion riyals.
Al-Obailan added that Al-Musafer company was valued at $1 billion.
He explained that the partnership with the Public Investment Fund aims to enrich the tourism sector in the Kingdom of Saudi Arabia.
He revealed that domestic travel in the Kingdom witnessed a 50% growth from 2019, with the support of the tourism activation operations carried out by the Saudi Tourism Authority, as well as the announcement of seasons and the increase in tourism services in the Kingdom.
And he indicated that the cities of Makkah, Jeddah and Riyadh were the most popular destinations for domestic travel, while Bangkok and Istanbul were the best international destinations for Saudis and Khaleejis.
He stated that the Kingdom witnessed an increase in reservations for five-star hotels, which currently constitute about 40-42% of the total hotel reservations compared to 2019.
He pointed out that there is a demand for companies operating low-cost airlines in the Saudi and Gulf markets.
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