By
Alex Smith |
The Saudi Arabian Public Investment Fund has launched the Cruise Saudi company, which aims to establish and develop the cruise industry in Saudi Arabia.
The company will be headquartered in the city of Jeddah on the Red Sea coast. Cruise Saudi will form a bridge between sea and land operations by developing cruise ports and terminals in several Saudi cities to provide an integrated experience with the wider tourism sector in the country.
The company will also work in partnership with the relevant authorities on developing tourist destinations, with the aim of introducing cruise itineraries and creating opportunities for guests to explore Saudi heritage and culture. It aims to benefit from tourist attractions such as Unesco World Heritage sites and natural destinations in the country’s mountain and marine environments.
The company’s launch comes as part of the Public Investment Fund’s strategy for 2021-2025, which is focusing on developing non-oil sectors in the country to diversify its revenue sources. The Fund and its subsidiaries aim to contribute SAR 1.2 trillion ($320 billion) to non-oil GDP cumulatively by the end of 2025 for growth in strategic and vital sectors, including cruising and tourism.