Red Sea Project, Amaala to Provide 120,000 Jobs
John Pagano, CEO of The Red Sea Development Company, highlighted that the Red Sea Project and Amaala will provide around 120,000 jobs. They will contribute approximately 33 billion Riyals annually to the Saudi economy.
Vision 2030: A Catalyst for Change
In an interview with Harvard Business Review Arabia, Pagano discussed how these projects align with Saudi Arabia’s Vision 2030. This vision aims to establish the Kingdom as an ambitious nation with a vibrant society through diversifying its economy. The Kingdom aims to rise tourism sector’s contribution to GDP from 3% to 10% over the next seven years.
Red Sea Project and Amaala: Pivotal to Vision 2030
These projects are central to Vision 2030. They represent new economic horizons and provide significant opportunities for Saudi citizens. The Red Sea Project and Amaala are set to be among the world’s most ambitious tourism destinations.
Employment and Economic Contributions
Together, these tourism destinations will create about 120,000 jobs and contribute 33 billion Riyals annually to the economy. Their impact extends beyond traditional tourism job opportunities. Thus, they enhance development in various sectors, including science, technology, engineering, construction, transportation, and adventure tourism.
The Red Sea Development Company’s Role
Owned entirely by the Public Investment Fund (PIF), The Red Sea Development Company is one of the most ambitious real estate development companies. It aims to set new standards to build a sustainable tourism sector in KSA. This guarantees not just protecting the environment but also ensuring future generations’ quality of life.
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