He said they would like to see more activity in the winter months as yachting interest dies down in Europe outside the summer.

"We want to attract a lot of that traffic into the Red Sea in the off-season which is the peak season for us," said the Saudi government official.

According to a report by Spherical Insights and Consulting, the global luxury yacht market was valued at $9.2 billion in 2023 and is expected to reach $17.3 billion by 2033.

The United Arab Emirates accounts for the largest number of superyachts — luxury vessels usually longer than 100 feet (30.48 meters) — owned in the region, according to IYC Yachts, one of the largest yachting companies worldwide.

Saudi Arabia is set to see growth in the sector with the NEOM giga project and its island destination Sindalah poised to open as a gateway for the global yachting community.

The Jeddah Yacht Club and Marina, the first on the Red Sea Coast, officially opened in March 2022 and can accommodate over 100 yachts and superyachts.

On Sept 3, the SRSA launched its "More than a sea" campaign, focusing on its role in regulating navigational and marine tourism activities, issuing licenses and permits, and preparing the infrastructure for these activities.

The new regulations include attracting investment in the Red Sea, which offers a promising investment environment, such as a population of around 7 million people supporting coastal tourism along an extensive 1,800 km coastline.

Alshaghrood noted that Saudi Arabia had close to 150,000 visitors from China last year. They spent over $550 million — a 59 percent increase from 2019 — which he said shows a strong interest in Saudi Arabia as a destination.

"We received the approved destination status from China. Essentially, what that means is easing group travel to Saudi Arabia, making it more accessible, more attractive," Alshaghrood told China Daily.

"We believe this is a great milestone that will help us expand what is a key source market for us," he said.

"Generating more visits from China will be more critical to the growth of visits and spending in the tourism sector," he added.