The 10th Saudi Travel and Tourism Investment Market opened on Sunday at the Riyadh International Convention and Exhibition Center as part of an effort to attract investors to the tourism industry.

The forum offers new investment opportunities in tourism development through its accompanying exhibition. Organizers also hope to establish partnerships between national and international companies to support and develop the infrastructure of the tourism sector in the Kingdom. Organizers also want to encourage new initiatives and highlight Kingdom’s potentials and various investment opportunities in different tourism areas.

Riyadh Gov. Prince Faisal bin Bandar, who is chairman of the Tourist Development Council of the region, said the Kingdom is passing through an important phase making significant changes under the National Transformation Program (NTP 2020) and Vision 2030.

He added that Vision 2030 and the NTP 2020 focus on the tourism and heritage sector with tourism initiatives as part of the Kingdom’s transformation program.

He pointed out that as the government aims to reduce dependence on oil revenue with the new economic transformation plan, it has also devised strategies for the promotion and development of domestic tourism, which creates business, jobs and investments.

A documentary on Saudi tourism was also shown on the occasion, highlighting major aspects of domestic tourism.

Earlier, Prince Faisal was joined by Prince Sultan bin Salman, president of the Saudi Commission for Tourism and National Heritage (SCTH), to hand over the Tourism Excellence awards for the fifth consecutive year, a national reference of distinction in the Saudi tourism industry.

The winners of the Tourism Excellence award included the Narcissus Hotel (5-star), Holiday Inn Alkhobar (4-star), Drnef Hotel (3-star), H-Care-Jeddah (Hotel Spa), Boudl-Dammam (furnished apartments), Al-Raha Hotel (hotel apartment), Golden Tulip (beach resort), Muqbil Abdullah Al-Muqbil (event/festival organizer), Flynas (airlines), SASCO (best service station and rest area) and Prince Mohammed bin Abdul Aziz International Airport, Madinah (in the best airport category).

They also honored the sponsors of STTIM 2017 and inaugurated the accompanying exhibition.

Prince Sultan and the Riyadh governor toured the pavilions of the exhibition where more than 250 domestic and foreign tourist agencies are participating.

The five-day forum has devoted 15 sessions and seminars to discuss issues related to the tourism and travel industry in the Kingdom.