The Kingdom of Saudi Arabia experienced a remarkable 22.9% increase in inbound visitor spending during the first quarter of 2024 compared to the same period in 2023, with total spending surpassing SAR 45 billion (approximately US$12 billion). Additionally, the Kingdom recorded a surplus in the travel account amounting to SAR 24 billion (approximately US$6.4 billion), reflecting a growth rate of over 46% compared to the first quarter of 2023.
During this period, outbound travellers from Saudi Arabia spent approximately SAR21 billion, according to preliminary data from the Saudi Central Bank’s travel account in the balance of payments.
This surge in inbound visitor spending is a testament to the continuous successes of Saudi Arabia’s tourism sector. The Kingdom ranked first on the United Nations tourism list for the growth rate of international tourists and tourism revenues among the top major tourist destinations globally in 2023 compared to 2019.
The data highlights the effective efforts by the tourism system to achieve global leadership by implementing best practices in tourism development and enhancing tourism services and products. This includes ongoing collaboration with various government entities to support the sector’s growth.
This achievement, reflecting the extensive efforts by the Ministry of Tourism and other components of Saudi Arabia’s tourism system, not only strengthens the tourism sector but also significantly contributes to the national economy’s growth as part of the National Tourism Strategy framework.
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Photo top of page: tourists in AlUla old town – copyright STA
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