Richard Branson to invest in Saudi Arabia
Virgin Group founder Sir Richard Branson to invest in a Red Sea project that aims to turn 50 Saudi Arabian islands into luxury tourism destinations.
Important facts to be noted here:
- Branson is the first international investor to commit to the project.
- A clear sign that Saudi Arabia is opening its doors to international tourism.
- On 1st August 2017, Saudi Arabia announced plans to turn 34,000 sq km of its Red Sea coastline into luxury resorts.
- The Red Sea project is expected to generate 35,000 jobs, according to the Saudi government.
- Saudi Arabia is one of the most conservative countries in the world, only last week passing a decree allowing women to drive.
- The project aims at attracting international tourists to a country where alcohol is prohibited and the mobility and dress of women restricted.
Branson also visited the tombs at Mada’in Saleh, a Unesco world heritage site located near a string of new hotels in a trip to the Gulf kingdom that appears to be aimed at attracting further international attention, in terms of both investment and tourism.