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27-02-14

Saudi tourism spend to hit USD9b by 2020

(MENAFN) Saudi Arabia is expected to register steady growth in the tourism sector with USD9 billion to be invested by 2020, Arabian Business reported. World Trade and Tourism Council data revealed that travel and tourism investments in the kingdom have expanded by a CAGR of 5.8 percent since 2001. Investments are estimated to have reached USD5.47 billion by the end 2012. It is also expected to hit an annual rate of 6.7 percent to reach USD9 billion.