517 70% of Investors quit Tourism

Speech Materals

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JEDDAH: Seventy percent of the Kingdom’s investors in the tourism entertainment sector have pulled out and turned to other sectors.Their action was blamed on frustrating bureaucratic procedures and social challenges facing the sector as well as the short shelf life and profitability of gaming machines. Investors are calling for urgent solutions, elimination of bureaucracy, and facilitation of procedures,
as well as for the Saudi Commission for Tourism and National Heritage to be the supervisor, legislator and reference for the sector. Investors are also calling for linking investment and culture, establishing a tourism development fund as part of new financial channels, and provision of land at lower prices.
Entertainment cities currently employ used games and refurbished machines, investors say, and they insist that the General Authority for
Entertainment create more investment opportunities for entertainment in different parts of the Kingdom.

I Word Understanding
Bureaucratic procedures – needlessly time consuming procedure
Social challenges – refer to problems that people have interacting with people
in society or engaging in normal social behaviors
Development fund– Money given by large organization for investment in areas that are less economically developed.
Financial Channels– financial support for project provided collectively by agencies

II Have your say
1.In your country, What are the kinds of tourism facilities likely to attract your attention?
2. List of countries boost bilateral agreement on cultural and religious tourism
*Iran and Bangladesh moot tourism ties
*India and China on tourism agreement ties
*Canada and Mexico to strengthen tourism agreement ties
3. Have you got any ideas of your country bilateral agreement ties with other countries?
4. What are the valuable points that the government must consider on foreign investors?

517 70% of Investors quit Tourism

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