Saudi Red Sea Authority Issues First-Ever Yacht Chartering Licenses
Riyadh, December 5, 2024The
Saudi Red Sea Authority (SRSA) has made a significant milestone by issuing its first three yacht chartering licenses in Saudi Arabia. This landmark decision is part of the Kingdom's broader initiative to enhance coastal tourism services, boost the tourism economy, and support the goals of Saudi Vision 2030.
Pioneering Coastal Tourism Development
The issuance of yacht chartering licenses marks a critical step in SRSA’s efforts to regulate and develop the coastal tourism sector. As part of its mandate, SRSA is responsible for formulating policies, strategies, and initiatives to oversee navigational and marine tourism activities. This includes managing marina operations and issuing licenses and permits to encourage investment in the sector.
Companies Awarded Licenses
Three companies have received the inaugural yacht chartering licenses:
- Hill Robinson Saudi Limited
- Faisal M. Higgi & Associates Co. Ltd
- JLS Yachts Limited
These companies are now authorized to operate yacht charters within Saudi Arabia’s Red Sea region under the guidelines of the Large Yacht Chartering Regulation established by SRSA.
Rigorous Compliance Standards
The granting of licenses followed a comprehensive evaluation process to ensure compliance with SRSA’s regulations. The verification included assessing the seaworthiness of yachts, adherence to local and international safety and security standards, environmental protection measures, and compliance with all applicable Saudi laws.
Advancing Saudi Vision 2030 Goals
By enabling yacht chartering operations, SRSA aims to significantly expand coastal tourism activities, diversify tourism services, and attract both domestic and international tourists. This move is expected to grow the yacht sector, encourage investment, create job opportunities, and contribute to the Kingdom’s economic development.
Broader Efforts to Enhance Marine Tourism
The issuance of yacht chartering licenses is part of SRSA’s broader initiatives to regulate marine tourism. These efforts also include granting licenses to tourism maritime agents and marina operators in the Red Sea, all aimed at strengthening and modernizing Saudi Arabia's coastal tourism infrastructure.The introduction of yacht chartering services marks a new chapter in Saudi Arabia’s journey to becoming a premier destination for marine and coastal tourism, aligning with its ambitious Vision 2030 objectives.