The Memorandum of Understanding highlights the dynamic investment prospects within Saudi Arabia’s tourism sector.
Dusit International, a prominent hotel and property development company from Thailand, has entered into a Memorandum of Understanding (MoU) with Saudi Arabia’s Tourism Development Fund (TDF), the driving force behind the nation’s tourism sector, to lay a foundation for new hospitality initiatives aimed at strengthening Saudi Arabia’s tourism infrastructure.
The MoU, signed at the 2024 World Travel Market in London, underscores Dusit’s commitment to sustainable growth in key international markets while affirming TDF’s goal of establishing partnerships to expand luxury hotel and resort options within the Kingdom.
In the first half of 2024, Saudi Arabia saw a substantial 8.2% increase in inbound visitor spending compared to the same period in 2023, totaling approximately SAR 92.6 billion. This impressive growth has contributed to a travel account surplus of about SAR 41.6 billion, showcasing Saudi Arabia’s exceptional progress in tourism. The Kingdom led all G20 nations in both international tourist arrivals and growth in tourism revenue during the first seven months of 2024. Compared to 2019, international arrivals surged by 73%, while tourism receipts climbed by 207%, according to UN Tourism data.
In line with Saudi Arabia’s National Tourism Strategy and the ambitious Vision 2030 agenda, the Tourism Development Fund (TDF) is dedicated to broadening the Kingdom’s tourism offerings by backing impactful projects rooted in sustainable practices and top-tier infrastructure. Through this MoU, Dusit will work alongside TDF to pinpoint premier hotel development opportunities that draw on Dusit’s rich 75-year legacy in hospitality and its diverse array of brands, from lifestyle-focused hotels to luxury villa rentals. Their collaboration aims to create exceptional guest experiences and long-lasting benefits for hotel owners, investors, and the wider community.
“Dusit International is deeply honoured to sign this MoU,” said Ms Suphajee Suthumpun,
Group CEO, Dusit International. “This marks a significant milestone for us as we seek to bring
our unique brand of Thai-inspired gracious hospitality to one of the world’s most dynamic tourism
landscapes. Saudi Arabia is a key focus for our growth, and partnering with TDF provides
invaluable opportunities to connect with high-potential investments across the Kingdom. We look
forward to contributing to Saudi Arabia’s National Tourism Strategy and delivering hotel
experiences that bring enduring value to all stakeholders.”
Operating 301 properties across 18 countries, with eight hotels in the Middle East, Dusit International’s portfolio showcases distinguished brands like Dusit Thani (luxury), dusitD2 (lifestyle/midscale), Dusit Princess (midscale), Dusit Suites (upscale/extended stay), and ASAI Hotels (affordable lifestyle). Recently, Dusit expanded its brand offerings by introducing Devarana – Dusit Retreats (luxury wellness) and Dusit Collection (exclusive luxury).
Beyond hospitality, Dusit actively supports the industry through its educational division, Dusit Hospitality Education, which includes institutions like Dusit Thani College, Le Cordon Bleu Dusit Culinary School, and The Food School, focused on nurturing the next generation of hospitality professionals. Dusit’s capabilities are further strengthened by synergies within Dusit Foods, Dusit Estate (property development), and its Hospitality-Related Services division.
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