The eyes of the aviation industry have been focused on Saudi Arabia for some time. Ever since the country launched its Vision 2030 diversification strategy in 2016, it was clear to many that the Crown Prince, Mohammed bin Salman Al Saud, was ready to build a whole new travel and tourism ecosystem backed by billions of dollars from the state and private investors.

Details of the latest funding are now being scrutinized as the opportunities for private operators become a little clearer.

The tourism side of Vision 2030 has gained a lot of publicity, supported by a Tourism Development Fund (TDF) that was established by royal decree in June 2020 with US$4 billion to start it off.

Having previously shunned tourists, the Kingdom of Saudi Arabia (KSA) is now heavily promoting inbound international travel at major trade fairs such as ITB in Berlin and World Travel Market in London. The country has been spending extravagantly to gain the most prominent positions to showcase elaborate, video-heavy stands.

In the aviation sector, one of the first projects covered by AirportIR was the new Red Sea Airport, where daa International—a subsidiary of DAA, the Irish airports operator that runs Ireland’s Dublin and Cork airports—was selected to be the operator. 

KSA's US$100 million funding drive now has a game plan behind it and gives airport and aviation investors plenty of scope to get a slice of the market. For full details of the strategy and how it will be managed and delivered, read on.

Investor Insights