Investors delve into potential of old Jeddah
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Investors are eying Jeddah’s downtown historical area due to the high turnout of visitors during Ramadan and summer season. Several businessmen have reportedly been considering opening cafes and restaurants following successful run of festivals and events held in the area. Jeddah’s summer festival attracted more than 750,000 guests this year.
The festivals, which had been organized by the Jeddah Municipality, the Saudi Commission for Tourism and Antiquities (SCTA) and Jeddah Chamber of Commerce and Industry (JCCI), played a vital role in reviving tourism in the area, recently dubbed a UNESCO World Heritage Site. Both local and foreign tourists frequented the area, which needs to be made more family-friendly, according to experts.
“Downtown Jeddah became a magnet for many of the city’s residents this year, encouraging local businessmen to open eateries that match the historical style of the area,” said Ali Salme, a Saudi businessman with several investments in the tourism sector, as quoted in Arab News.
For many Jeddah residents, the area helps foster business activity with pilgrims, who bring with them items from their home countries to sell. Umrah and Haj pilgrims also hunt for souvenirs and gifts to take back home to their loved ones despite the fact that most of these items are available locally. Pilgrims spend an estimated SAR800 million on gold and SAR8 billion on gifts annually.
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