Saudi Arabia’s giga-projects will move ahead as planned despite controversy surrounding the death of a journalist.
$50 billion of deals were signed at the country’s Future Investment Initiative summit in Riyadh, despite boycotting from some business leaders.
There are 4 “giga projects” currently under construction in Saudi: Qiddiya, Al-Ula, Neom and the Red Sea Project. In September the Public Investment Fund announced a new uber-luxury resort called Amaala.
Saudi Arabia is moving ahead with the projects.
Theme park operator Six Flags will move ahead with plans to open in Saudi Arabia, according to Gulf Business.
Six Flags is under pressure to diversify its offerings after than slower than expected growth in their results to date.
These investments, it is hoped, will support the diversification of Saudi Arabia’s leisure and tourism industry.
International tourism in Saudi Arabia is forecast to grow by 5.8% per year from 2018 to 2022, according to a report from BMI Research.
Saudi Arabia moving ahead with major development projects despite controversy
