Saudis avoid GCC tourism investments | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"Despite the effort of GCC countries to boost tourism investments, Saudi investors still prefer investing in Europe and the Far East and avoid investment in GCC countries.
Ibrahim Al-Nabhani, chairman of the Tourism Committee at the GCC Chambers of Commerce and Industry Union, explained that Gulf countries are seeking to attract both Gulf and foreign investors to revive the tourism sector, following reluctance of local companies and individuals to invest in the sector despite the strong components available.
“The continuing ‘emigration of investments’ prompted governments to conduct surveys on the strengths of the tourism sector, as well as the obstacles facing investments in it in the region,” said Al-Nabhani, explaining that the trend by Gulf businessmen to invest abroad was the result of these obstacles and the changes in the political environment."
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