GCC countries are focusing more on cultural tourism to diversify sources of income and reduce high dependence on oil following a sharp drop in crude prices.
Ministers of tourism and culture in GCC have begun a process of collaboration to align tourism projects in their countries, in preparation for a post oil economy, according to Khaleej Times.
Prince Sultan bin Salman bin Abdul Aziz Al Saud, president of Saudi Commission for Tourism and National Heritage said Saudi Arabia, with the largest oil-dependent economy in the GCC, is adopting holistic projects for boosting national heritage.
Speaking to Khaleej Times about the Kingdom’s budget dedicated to cultural tourism, Prince Sultan said: "About $2billion initially, but there are a lot of side projects that are being done by other ministries and this is a different matter."
Tourism, culture and heritage are the top three directions that Saudi will be focusing on when it eventually transfers into a non-oil economy.
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Prince Sultan added that UAE and other GCC countries are following a similar strategy. "We (the GCC ministers of tourism and culture) had the first meeting in Riyadh a month ago and we are now moving forward."
Dubai is currently investing in its historical district to attract tourists to the old parts of the city, with the government having spent approximately $41 million (AED150 million) for the restoration works of the old buildings in historic areas.
Dubai has also resubmitted its bid to get the historic area around the Dubai Creek listed as a World Heritage Site by NESCO (United Nation's Educational Scientific and Cultural Organisation).
"Now we are planning for what after oil? Tourism is a main part of it," said Dubai Municipality director of the architectural heritage department Rashad Mohammed Bukhash.
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