The Red Sea Project - diversifying the Saudi economy

The Red Sea Development Company

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The Red Sea Development Project, one of the world’s most ambitious tourism projects, is an integral component in Saudi Arabia's Vision 2030 economic diversification strategy. The project is expected to create up to 70,000 new jobs and to contribute as a much as 22 billion Saudi riyals (USD 5.3 billion) to the nation’s GDP by creating investment opportunities for the private sector and developing the Kingdom’s tourism industry while preserving the nation’s precious cultural and environmental heritage.

On completion the project aims to attract 1 million tourists per year.

The first phase of the project will open on the west coast of Saudi Arabia in 2022. It includes 14 luxury and hyper-luxury hotels providing 3,000 rooms across five islands and two inland resorts.

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