Saudi Arabia is to plough $4 billion into a development fund to establish tourism in the country.
The Middle East country announced the initial capital investment as part of a strategy to open up the kingdom to foreign visitors.
In September, Saudi Arabia revealed it planned to open to non-religious tourism for the first time with new visa regime.
The Saudi Arabian tourism ministry said the new Tourism Development Fund will involve equity and debt investment vehicles to develop tourism in collaboration with private and investment banks.
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