Tourism Deals Turn Binding
Syria's tourism minister said on 5 November 2026 that investment memoranda worth about $1.5 billion in tourism and hospitality have been converted into binding contracts valued at more than $3 billion. He said the contracts have entered into force.
The announcement came during an international travel-industry gathering in London, where officials have been courting hotel operators and property developers. The minister framed the shift from memoranda to signed contracts as evidence that earlier pledges are translating into committed capital.
International Operators Commit
A French hotel group is preparing to enter the Syrian market through two new hotel projects, with a formal announcement expected within a week. A Saudi hospitality group has already invested in the country.
A company from the United Arab Emirates has contracted to build two projects, one in Latakia and one in New Damascus, adding to a widening list of foreign commitments.
A $7 Billion Development
A separate Emirati developer signed a project in New Damascus with the Syria Sovereign Fund. Its estimated development value is about $7 billion across 4 million square meters.
The plan covers residential units, hotels, and commercial, educational, health, and entertainment facilities, making it one of the largest single ventures announced to date.
Visitor Numbers Climb
The country recorded about 3.52 million visitors in the first half of 2026, an increase of 111% from a year earlier. That total included 2.13 million Syrian expatriates, 664,000 Arab visitors, and 719,000 foreign tourists.
About 4 million people visited in 2025. Officials expect 8 million by the end of 2026 and have set a target of 10 million to 11 million for 2027. The sustained rise in arrivals underpins the case operators are making for new hotel capacity.
Airport Capacity Expands
A new terminal at Damascus International Airport is scheduled to open in December 2026, with capacity for 10 million travelers. The expansion is intended to support the projected rise in arrivals.