Saudi Red Sea Authority boosts yachting to enhance coastal tourism.

Jeddah, March 22, 2025 – The Saudi Red Sea Authority (SRSA) is driving notable growth in Saudi Arabia’s coastal tourism sector, with ongoing government efforts aimed at positioning the Kingdom as a leading global tourism hub in line with Vision 2030. As interest in yacht tourism rises both locally and internationally, SRSA has expanded its regulatory role by introducing comprehensive frameworks, such as the Saudi Yacht Regulation, the Visiting Yachts Regulation, the Large Yacht Chartering Regulation, and the Marina Design and Operations Regulation. These initiatives are designed to improve marine infrastructure, promote environmental sustainability, and stimulate investment in coastal tourism.

Working closely with its partners, SRSA has accelerated infrastructure development along the Red Sea, issuing 29 tourism licenses that have contributed to the economic growth of yacht tourism. Among these, 3 licenses were issued to yacht charter companies, 10 to marina operators, and 5 to technical service providers in leisure and tourism, fostering a dynamic marine tourism ecosystem.

The Red Sea region, which stretches over 1,800 km of coastline, is home to more than 1,000 islands, 150 unspoiled beaches, and 3,200 cultural and tourism assets, including heritage villages, lively markets, and active maritime ports. These natural and cultural treasures form a solid foundation for Saudi Arabia’s emerging yacht tourism industry.

SRSA has been actively involved in building international partnerships to boost investment opportunities. It took part in major global yacht and maritime exhibitions, such as the Monaco Yacht Show 2023 and the Dubai International Boat Show 2024, with the aim of adopting best practices in yacht tourism and fostering global collaboration. The authority has signed agreements with leading institutions like the Yacht Club de Monaco and the Prince Albert II of Monaco Foundation to further develop Saudi Arabia’s coastal tourism sector.

By offering technical, administrative, and advisory support to both local and international investors, SRSA ensures a smooth investment process that aligns with Saudi Arabia’s broader strategy of attracting global investors through regulatory reforms, tax incentives, and infrastructure enhancements.

Through these ongoing efforts, SRSA is transforming Saudi Arabia’s yacht tourism industry by providing exclusive and tailored experiences for tourists and yachting enthusiasts. By 2030, the authority aims to attract 250,000 visitors for yacht-related activities, generate approximately $2.9 billion in tourism spending, and create an estimated 28,000 jobs in the sector, contributing to the Kingdom’s economic diversification goals.

Globally, yacht tourism plays a vital role in coastal economies. In 2023, the global yacht market was valued at $7.67 billion, with projections indicating it will grow to $17.33 billion by 2032. Europe led the market in 2023, accounting for 47.58% of the global share. Italy serves as a prime example of yacht tourism’s economic impact, with its marine industry growing 3 times faster than its GDP between 2012 and 2022. In 2022, Italy held over 50% of the world’s yacht manufacturing orders and supported around 157,000 jobs.

With continuous improvements in regulatory policies, infrastructure expansion, and global collaboration, SRSA is committed to positioning Saudi Arabia as a leading global destination for yacht tourism. These efforts align with Vision 2030’s broader objectives of enhancing the Kingdom’s tourism and economic landscape, ensuring that Saudi Arabia remains a key player in the global yacht tourism industry.