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Saudi Arabia sets sail for a $3 billion yachting tourism boom
To meet this goal, SRSA has introduced regulations, issued licenses, and secured global partnerships.
Saudi Arabia is setting the stage for a coastal tourism boom, with the Saudi Red Sea Authority (SRSA) leading efforts to develop a thriving yachting industry. The Kingdom aims to leverage its pristine Red Sea coastline to attract seafaring visitors, drive tourism spending, and boost economic growth.
As part of Vision 2030, SRSA is working to position Saudi Arabia as a premier yachting destination, targeting 250,000 yacht tourists and nearly $3 billion in tourism revenue.
To support this vision, SRSA has introduced comprehensive regulatory frameworks, including the Saudi Yacht Regulation, Visiting Yachts Regulation, Large Yacht Chartering Regulation, and Marina Design and Operations Regulation.
Infrastructure development along the 1,800 km Red Sea coastline—home to over 1,000 islands and rich cultural assets—is gaining momentum. SRSA has issued 29 tourism licenses for yacht chartering companies, marina operators, and technical service providers, strengthening the marine tourism ecosystem.
SRSA is strengthening international ties by participating in global yacht and maritime exhibitions and partnering with institutions like the Yacht Club de Monaco and the Prince Albert II of Monaco Foundation. It also offers technical, administrative, and advisory support to investors, simplifying the investment process.
Saudi Arabia’s push into yacht tourism aligns with the sector’s global expansion, valued at $7.67 billion in 2023 and projected to reach $17.33 billion by 2032. The Kingdom aims to mirror the success of countries like Italy, where the marine industry plays a key role in economic growth.
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