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PIF launches Cruise Saudi to develop cruise industry in Saudi Arabia

Saudi Arabia’s Public Investment Fund (PIF) has launched Cruise Saudi as part of Vision 2030.

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Cruise Saudi will be located in Jeddah (via Arab News). It will contribute to the country’s efforts to become a tourist destination, in line with Vision 2030.

The company will form a bridge between sea and land operations by developing cruise ports and terminals in cities around Saudi Arabia.

Cruise Saudi will generate more than 50,000 jobs in the tourism industry. It will develop routes and cruise itineraries for people to explore the country’s heritage and culture.

“The employment rates have decreased due to the pandemic,” said Layal Abdullah, a PR employee in Jeddah (via Arab News).

Forming a bridge between sea and land in Saudi

“The fact that the Kingdom is working toward empowering a whole new sector, while also working toward raising employment rates, is encouraging.”

Financial analyst Ahmad Al-Asmari said the new project was “very appealing”, but referenced the cost of cruise company Red Sea Spirit, which launched its first cruise in Saudi Arabia in August 2020.

“If they’re anything like that, I don’t believe many locals will be interested just due to the fact that they can’t afford it,” said Al-Asmari.

The launch of Cruise Saudi comes as part of the PIF’s 2021-2025 strategy, which aims to diversify the economy in order to reduce the country’s reliance on oil.

Cruise Saudi will generate more than 50,000 jobs

The fund and its subsidiaries hope to contribute SR1.2 trillion to the country’s gross domestic product (GDP) via non-oil revenue by the end of 2025.

Meanwhile, a $500 billion zero-carbon city has been unveiled in Saudi Arabia. THE LINE at NEOM will cover 105 miles and feature hyper-connected communities without cars or streets.

Saudi Arabia is creating a host of attractions and giga-projects as part of Vision 2030.

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Bea Mitchell

Bea is a journalist specialising in entertainment, attractions and tech with 10 years' experience. She has written and edited for publications including CNET, BuzzFeed, Digital Spy, Evening Standard and BBC. Bea graduated from King's College London and has an MA in journalism.

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