There is a genuine need to examine stakeholders’ perception of biodiversity conservation and tourism development due to overlapping roles and conflicting priorities among key governmental agencies in Saudi Arabia. The need to understand the role of each stakeholder group will assist to support policy formulation and implementation, along with effective practices. Within this context, the purpose of this study was to examine stakeholder perspectives towards National Parks and Protected Areas in Saudi Arabia. Qualitative data were collected through semi-structured interviews from 11 stakeholders’ representative of public, private, and non-governmental organizations from the tourism and conservation community. Findings revealed four main themes—tourism development, management issues, development challenges, and policy concerns. In addition, multiple sub-themes within each were further categorized. Overall, findings highlight the need to form a foundation for sustainable tourism development that aims to conserve biodiversity and provide opportunities for local communities to ensure economic growth. Implications for development in National Parks and Protected Areas in Saudi Arabia are also noted.