The Launch of The Saudi Cruise Company to Develop Tourism Trips: The First Fruits of The New Strategy of The Public Investment Fund

SCBC Team – Riyadh

The Public Investment Fund launched its new strategy for the next five years by announcing the launch of the Saudi Cruise Company, which specializes in the field of cruise trips in the Kingdom of Saudi Arabia, explaining that it aims to strengthen the country’s efforts to become a tourist destination on the international cruise map and develop the tourism sector.

His Royal Highness Prince Mohammed bin Salman, Crown Prince and Chairman of the Board of Directors of the Public Investment Fund announced the Fund’s Strategy 2021-2025, which was based on making the Fund a fundamental pillar in diversifying sources of income, maximizing non-oil economic returns, and contributing to GDP, the non-oil sector, with a cumulative value of 1.2 trillion riyals by the end of 2025.

According to a statement by the Fund on its website, the Saudi Cruise Company, which is located in the city of Jeddah on the coast of the Red Sea, aims to achieve the goals of the Kingdom’s Vision 2030, by forming a strategic bridge between marine and land operations and tourist port operations to be developed in many From Saudi cities, to ensure the provision of an integrated tourism experience, consistent with the goals of the tourism sector in the Kingdom, as well as the development of tourist destinations in partnership with the relevant authorities; to develop itineraries for excursions, provide an exceptional experience for guests, and an opportunity to discover Saudi heritage and culture, in a manner that ensures the preservation of the environment and the protection of natural resources.

The Public Investment Fund indicated that it aims to benefit from the tourist attractions, as well as the historical and cultural heritage of the Kingdom, such as UNESCO sites, in addition to the distinctive geographical sites provided by the Kingdom such as the mountain or marine environment, by investing in tourism projects as part of its strategy to develop promising sectors. And achieving high returns in the medium and long terms.