Home » Middle East » Saudi Red Sea Authority Fuels Coastal Economic Growth Through Yacht Tourism Expansion
Thursday, March 13, 2025
The Saudi Red Sea Authority (SRSA) is at the forefront of enhancing Saudi Arabia’s coastal tourism industry, supporting the Kingdom’s Vision 2030 to position the nation as a leading global tourism hub. The SRSA is particularly emphasizing yacht tourism, both domestically and globally, by introducing robust regulations to foster this expanding sector.
Yacht tourism has a substantial influence on coastal economies worldwide. In 2023, the global yacht market was valued at $7.67 billion, with projections indicating it will reach $17.33 billion by 2032. Europe led the market in 2023, capturing 47.58% of the global share. Italy stands out as a prime example of this growth, with its maritime sector expanding at a rate three times faster than its GDP…
