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COVID-19: US$4B Saudi tourism fund | Hoteliers question Thai luxury shift

Saudi Arabia to launch US$4B billion tourism fund Saudi Arabia plans to start a tourism development fund with an initial capital investment of US$4 billion. The Tourism Development Fund will launch equity and debt investment vehicles to develop the tourism sector in collaboration with private and investment banks, the ministry of tourism said in a statement. More from the New York Times Hoteliers unhappy with Thailand’s shift towards high-end Thai hotel industry professionals are concerned that the Thai government’s plan to shift its focus away from mass tourism and backpackers to high-spending travelers could mean that small businesses will be…
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