Saudi Arabia, in partnership with the World Bank, pledged $100 million to establish the International Fund for Comprehensive Tourism, said Saudi Tourism Minister Ahmed Al- Khateeb.
It will be the first global fund dedicated specifically to supporting global tourism growth, as it aims to build human and institutional capacity across the pandemic-battered sector, Al-Khateeb said on the sidelines of the Tourism Recovery Summit 2021 in Riyadh, Argaam reported.
The global tourism sector is plotting its recovery from the pandemic after a devastating year of lockdowns and travel restrictions which forced the closure of resorts worldwide and sent thousands of businesses into bankruptcy.
