Tag: Red Sea Development Company

Around 387,000 tourists visited Red Sea in June this year, in which 300,000 were foreign tourists, according to the Red Sea governorate’s statistics. German tourists recorded the highest number among other nationalities with 110,655 tourists. Egyptians came second with 82,640. Czech tourists came third with 27,852 visitors, while the British came fourth with 22,527 and the Polish ranks fifth with 20,238 tourists. As per records, tourists from the Arab countries show a downward trend. Only 1506 tourists from Arab countries visited Read Sea during this period. Domestic tourism in Hurghada hotels recorded an occupancy rate of 100 per cent, despite ... Read more

Saudi Arabia’s Red Sea project said it will offer visas on arrival for overseas visitors following the creation of a company to deliver the ambitious project. The project marked a milestone recently with its incorporation as a standalone closed joint-stock company, The Red Sea Development Company (TRSDC), wholly owned by the country’s Public Investment Fund (PIF). The newly-incorporated company will now move forward with the creation of its Special Economic Zone, with its own regulatory framework, it said in a statement. The framework will be separate from the base economy, with a special emphasis on environmental sustainability, and will be offering ... Read more