Recognizing the oil and gas industry as a sunset industry the countries in the Middle East that have been heavily reliant on oil and gas revenue are now taking steps to diversify their economies and reduce their dependence on oil and gas.
Human capital and technical knowledge is sparse in these countries and so naturally they rely on industries such as the tourism and investment in foreign countries to diversify their economies.
Saudi Arabia's visa program allows citizens of 49 countries to visit the country on a 90 days visa. The list of countries qualifying the program can be found at https://visa.visitsaudi.com.
Businesses involved in the travel and hospitality sector may find investment opportunities from this change in the Saudi government's policy.
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