On Monday, Saudi Arabia’s Tourism Development Fund claimed that it has spent 2 billion riyals ($533 million) on tourism projects worth a total of roughly 6 billion riyals, from its inception last year until the end of September this year.
A statement from the fund remarked that the remaining four billion riyals for the projects came from the private sector.
The fund, which began with a $4 billion investment in June 2020, is part of Saudi Arabia’s attempt to diversify its economy away from oil.
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