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Racing tracks, theaters and art galleries; Here's what Saudi Arabia plans through investment fund for tourism

08:31 PM | 17 Jan, 2023
Racing tracks, theaters and art galleries; Here's what Saudi Arabia plans through investment fund for tourism
Source: Arabianbusiness

RIYADH -  Saudi Arabia’s Crown Prince, Muhammad bin Salman has announced the launch of EIF, a fund aimed at developing tourism as well as other sectors with top-notch amenities to help attract citizens from across the world.

The Events Investment Fund aims to develop a sustainable infrastructure for culture, tourism, entertainment and sports sectors across the Kingdom, with facilities like racing tracks as well.

It is envisioned that the fund will bolster the contribution of the tourism sector to annual GDP, from its existing rate of 3 per cent to over 10 per cent by 2030 and would provide alternate options to travelers going to Europe and other countries for leisure and fun.

As part of the plan, indoor arenas, art galleries, theaters and conference centers, horse-racing tracks, auto racing tracks and other event facilities across the Kingdom will be developed. The first project in this regard would be ready by 2023.

The fund will support the transformation of Saudi Arabia into a global tourist destination, attracting over 100 million visitors by 2030; it is poised that the fund will help make the kingdom one of the world’s most visited countries and would achieve the plan of shifting the country's revenue sources from oil to other streams.

The fund is being seen as a major game changer considering the fact that it will conceptualize, finance and oversee development of over 35 venues by 2030.

Daily Pakistan Global Web Desk


PKR exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 22 April 2024

Pakistani currency remains largely same against US Dollar and other currencies on April 22, 2024 Monday.

USD to PKR rate today

US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 22 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71


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