• Saudi tourism revenue to increase 4.8%

Saudi Arabia expects revenue from tourism to increase 4.8% in 2010. The country currently receives two million visitors a year from 160 countries for the annual pilgrimage to Mecca, news wires reported.

Tourism revenue reached 66bn riyals ($17.6bn) and is expected to increase to 118bn riyals in 2015. Saleh al-Bakhit, the deputy- chairman for investments at the Saudi Commission for Tourism & Antiquities, told news wires that the government will allow long-term land leases for tourism projects. Real estate developer Jabal Omar is building 27 hotels and investment firm Kingdom Holding is planning a five-star hotel in Mecca.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atz6_xxyvH1g

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