Saudi Arabia Tourism Q2 2020
The Saudi Arabian tourism industry is set to post healthy growth over the medium term to 2024 driven by a host ofsupportive underlying factors. Our bullish outlook is predicated on rising incomes in key religious tourism source markets, strongeconomic diversification efforts as part of the Vision 2030 strategy and the robust, capital-intensive investments in a stream ofinfrastructure projects linked to accommodations, transportation, retail and entertainment. We note that broad government supportis crucial to industry momentum, and primary downside risks stem from negative oil price shocks and the severe geopoliticaltensions with Iran that could dampen regional sentiment.
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