The 2025 Saudi-US Investment Forum opened today at the King Abdulaziz International Conference Center in Riyadh, setting the tone for a new chapter in the strategic partnership between the Kingdom of Saudi Arabia and the United States. With tourism, innovation, and economic diversification high on the agenda, the forum underscored the Kingdom’s progress under Vision 2030, particularly in positioning itself as a hub for investment and sustainable development across sectors.
The event is taking place alongside the state visit of US President Donald Trump, signalling high-level engagement and underscoring the importance both countries attach to their economic ties. Speaking at the opening session, Saudi Minister of Investment Khalid Al-Falih welcomed delegates and emphasised the depth of US-Saudi cooperation, citing more than 90 years of partnership grounded in mutual trust and shared interests.
Al-Falih presented the Kingdom’s 2024 Vision 2030 progress report, with tourism taking a leading role in Saudi Arabia’s economic transformation. The Minister noted that tourism has grown into a key sector for foreign direct investment, with giga-projects such as NEOM, the Red Sea Global, Diriyah, and AlUla now widely recognised as world-class destinations. Investment opportunities now span sustainable tourism infrastructure, cultural and heritage site development, and integrated luxury and adventure experiences.
Redefining urban futures: giga-projects and quality of life
In a standout session titled “Blueprints for Tomorrow: Redefining Urban and Economic Frontiers”, key figures behind Saudi Arabia’s most ambitious giga-projects came together to discuss how visionary planning is reshaping the Kingdom’s urban landscape—and enhancing quality of life for generations to come. Taking place as part of the “Quality of Life” panel track, the discussion brought together leaders such as Minister of Tourism H.E. Ahmed Al-Khateeb, Minister of Municipalities and Housing H.E. Majed Al-Hogail, and CEOs from NEOM, Diriyah, Red Sea Global, New Murabba, Riyadh Air, and Uber.
The panel explored the complexity, scale, and societal impact of the Kingdom’s giga-projects, each of which reflects a unique blueprint for sustainable living, mobility, and inclusive development. Participants underscored the role of Saudi–U.S. collaboration in realising these transformative goals, not only through capital investment but also in sharing expertise in smart city design, green infrastructure, and cutting-edge transport systems. As John Pagano, CEO of Red Sea Global, put it, these projects represent “living laboratories” for next-generation urbanism—designed to deliver economic diversification while prioritising human well-being.
Tourism poised to become Saudi Arabia’s ‘new oil’ by 2030, says Minister Al-Khateeb
At the summit, the Minister reaffirmed the Kingdom’s commitment to positioning tourism as a central pillar of its economic future, underlining the fact that tourism is on track to rival the oil sector in its contribution to the nation’s GDP within the coming years.
“The tourism industry will become Saudi Arabia’s new oil,” he stated, crediting this trajectory to wide-ranging reforms and a comprehensive strategy launched under Vision 2030. He noted that tourism’s share of GDP has already risen from 3% in 2019 to 5% in 2024, with a target of reaching 10% by the end of the decade.
A major driver of growth, according to Al-Khateeb, has been the overhaul of the Kingdom’s visa system. Since opening up to international tourism in 2019, Saudi Arabia has introduced a streamlined e-visa process for citizens of 65 countries—up from 50 previously—allowing travellers to obtain a visa in under five minutes. This accessibility has significantly boosted inbound tourism, catering to a range of segments from leisure and business to religious pilgrimage.
Al-Khateeb emphasised the role of Saudi youth in shaping the guest experience. “Our educated, ambitious young people are at the heart of the sector’s success, welcoming travellers from across the globe,” he said.
He also cited impressive growth in visitor numbers. Saudi Arabia hosted 115 million travellers in 2024, up from 50 million in 2019. Of these, 30 million came from abroad, placing the Kingdom among the world’s top 10 most visited countries. The goal, he said, is to welcome 50 million international visitors annually by 2030, establishing Saudi Arabia among the top five global destinations.
Al-Khateeb concluded by underscoring the pace at which change is unfolding, calling speed of implementation a key factor in the Kingdom’s tourism transformation.
Bridging Markets: Designing the Financial Architecture of Tomorrow
During the panel titled “Bridging Markets: Designing the Financial Architecture of Tomorrow,” the Chairman of the Islamic Development Bank (IsDB) Group, Dr Muhammad Al Jasser outlined the features of Saudi Arabia’s economic transformation and called for stronger global cooperation to enhance development efforts.
Al Jasser highlighted the Kingdom’s economic renaissance, noting that its capital market has evolved from a limited system into one of the largest in the world. He underscored Saudi Arabia’s key achievements, including export diversification, the development of new sectors such as tourism, and greater participation of women in the workforce.
He addressed the challenges posed by global financial volatility, saying: “We need that predictability. We need that certainty. We need that calmness that we have had for a long time and must continue with us in the future, because the absence of these elements makes it difficult to plan ahead.” He stressed that long-term infrastructure development requires a stable environment, forward planning, and trusted financial systems.
Al Jasser added: “We do not deny our ability to deal with uncertainty, but the real challenge lies in the absence of predictability,” calling for intensified global coordination to protect long-term investments and support resilient growth strategies.
Broader opportunities in technology, energy, and healthcare
Alongside tourism, Al-Falih identified energy (both conventional and renewable), artificial intelligence, biotechnology, logistics, and healthcare as high-potential sectors. American companies are already deeply involved in many of these areas, and the Minister called for deeper collaboration, especially in light of technological advancements and global shifts in supply chains.
Saudi Arabia has invested heavily in its tech ecosystem, launching multiple regulatory and funding platforms aimed at supporting foreign investors and tech entrepreneurs. In 2024 alone, Saudi startups attracted more than $1.3 billion in funding, with growing participation from American venture capital firms.
Shared prosperity through private sector partnerships
The Minister stressed that strategic alignment between Saudi Arabia and the United States is not only economically sound, but vital for global stability and prosperity. “The relationship between the two countries is one of the most important geopolitical connections,” Al-Falih said, highlighting the private sector as a key engine of progress. He added that Saudi Vision 2030 is creating high-yield, long-term opportunities, and reaffirmed the Kingdom’s readiness to partner with U.S. firms in achieving mutual growth.
Trump visit to Riyadh includes Diriyah – birthplace of the Saudi state
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, accompanied President Trump on a tour of Diriyah, including the At-Turaif Historic District.
The Crown Prince and President Trump watched a traditional Saudi folk performance and posed for a commemorative photo in front of Salwa Palace, the former seat of governance during the First Saudi State. The tour also featured a presentation on the Diriyah giga-project by company CEO, Jerry Inzerillo.
Looking ahead
With a renewed focus on sustainability, innovation, and global connectivity, the 2025 Saudi-US Investment Forum has set the stage for a future of stronger bilateral collaboration. Tourism, once a nascent sector, is now at the forefront of investment conversations—reflecting Saudi Arabia’s evolving identity as both a cultural destination and a high-growth economic powerhouse.
As the forum continues, delegates will take part in sector-specific sessions, networking events, and partnership announcements—many of which are expected to deliver concrete investment outcomes in the months ahead.
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Photos: SPA and Saudi-US Investment Forum Press Office
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