Saudi Healthcare Sector Projected to Contribute $66.6 Billion to GDP by 2030
In a panel discussion titled “The Kingdom and Vision 2030 as a Global Health Tourism Destination” at the Health Tourism Future Forum in Riyadh, Saudi Deputy Minister of Investment Transaction Saleh Al-Khabti revealed that the healthcare sector is expected to contribute about $66.6 billion to the Kingdom’s gross domestic product by 2030, creating over 245,000 jobs.
The forum, organized by the Health Tourism Club and the Health Tourism Association in collaboration with the Global Healthcare Travel Council, aims to redefine visions for health tourism at regional and international levels, coinciding with the eighth anniversary of the launch of Saudi Arabia’s Vision 2030.
Significant Investment Needed in Saudi Healthcare Sector
Al-Khabti emphasized the need for significant investment in the Saudi healthcare sector over the next seven years, driven by the National Investment Strategy. He highlighted the increase in foreign direct investment in Saudi Arabia to about $19 billion, triple the amount since 2017.
President of the Health Tourism Association, Ahmed Al-Ouraij, noted that the forum marked the beginning of specialized health tourism initiatives, with a focus on attracting international patients to access top healthcare providers in London.
Saudi Arabia’s Tourism Industry Exceeds Expectations
Mahmoud Abdulhadi, deputy minister of tourism for destination enablement, announced that Saudi Arabia’s tourism industry has surpassed its target of 106 million visitors, contributing about $66.6 billion to the economy. He highlighted the importance of tourism in creating employment opportunities, with the sector expected to reach 1.6 million employees by 2030.
Abdulhadi also emphasized the potential for growth in health tourism, citing the need for proper marketing and infrastructure to attract visitors seeking medical treatment or wellness services.
Focus on Wellness and Health Travel
As the forum explores challenges and solutions for sustainable growth in the healthcare sector, including innovation, investment, marketing, and legislation, the exhibition featuring Healthcare London aims to provide international patients with access to leading healthcare providers in the UK.
Michael Barker, project manager at Healthcare London, highlighted Saudi Arabia as a key market for their services, reflecting the growing interest in health tourism globally.
Driving Medical Tourism and Enhancing Healthcare Sector
The Health Tourism Future Forum serves as a platform to prioritize health and well-being, promoting medical tourism and enhancing the local and global healthcare sector. With a focus on innovation and investment, the event aims to raise awareness and drive sustainable growth within the industry.