Saudi Arabia’s plan to start issuing tourist visas in six months will draw over seven million visitors to the kingdom and has the potential to provide the economy with more than SR35 billion ($9.32 billion) in five years, a report said.

"The kingdom has huge tourist potential and will be one of the main attractions in the region thanks to the new decision," Prince Abdullah Bin Saud Bin Muhammad, chairman of the Jeddah Chamber of Commerce and Industry 's ( JCCI ) tourism committee, was quoted as saying in The Saudi Gazette.

Prince Abdullah noted that the visa issuance decision by the Saudi Commission for Tourism and Antiquities ( SCTA) was accompanied by a number of other regulations to improve the accommodation sector including fines of up to SR50,000 ($13,300) for tourism facilities working without classification certificates.

"The punishment will also cover any facility that may obstruct the entry of the SCTA’s supervisors and inspectors," he added.

SCTA expects more than 1.5 million visitors to the kingdom annually on tourist visas, Prince Abdullah said.

"If the average expenditure of a tourist is about SR5,000 ($1,331) per visit, the industry will ensure the national economy with more than SR35 billion in five years," he was quoted in the report.