Saudi Arabia’s tourism sector sees significant growth in 2024
Visitor spending surges by 8.2%, positioning the Kingdom as a global leader in tourism among G20 nations.
Saudi Arabia saw an 8.2% increase in inbound visitor spending, reaching SR92.6 billion ($24.7 billion) in the first half of 2024.
Shutterstock
Saudi Arabia’s Ministry of Tourism reported an 8.2% increase in inbound visitor spending during the first half of 2024, totaling approximately SR92.6 billion ($24.7 billion), compared to the same period in 2023.
The Kingdom also recorded a travel account surplus of around SR41.6 billion ($11.1 billion). This rise in visitor spending reflects the impressive strides made by Saudi Arabia’s tourism sector.
Saudi tourism surge
According to UN Tourism data, Saudi Arabia led G20 nations in international tourist arrivals and the growth rate of tourism revenue during the first seven months of 2024 compared to the same period in 2019.
This success is credited to the Kingdom’s commitment to adopting best practices in tourism development, enhancing tourism services and products, and collaborating with government entities to accelerate sector growth.
These efforts have helped position Saudi Arabia’s tourism sector as a global leader and significantly enhanced its contribution to the national economy.
Popular
Spotlight
More from Business
Pakistan’s foreign reserves climb as current account posts surplus
Workers’ remittances and official inflows to drive reserves to $14 billion by June
More from World
Pakistan denies Indian claims of attacks and downed jets, calls reports 'fake'
Pakistan's Foreign office says India is spreading false news to justify aggression
Comments
See what people are discussing