Richard Branson to invest in Saudi Arabia

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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.

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