Visitor Spending In Saudi Arabia Tops SAR45 Billion In Early 2024

The Kingdom of Saudi Arabia saw a 22.9% increase in inbound visitor spending during Q1 2024 compared to Q1 2023, with total spending surpassing SAR45 billion. Additionally, the travel account surplus reached SAR24 billion, marking a growth rate of over 46% from the same period in 2023.

Saudi Arabia's tourism sector has been thriving, ranking first on the United Nations tourism list for international tourist growth and tourism revenue growth among major global destinations in 2023 compared to 2019. This success is attributed to the Kingdom's effective efforts in applying best practices in tourism development and enhancing tourism services and products.

During the same 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 indicates a significant level of economic activity related to travel both into and out of the Kingdom.

The continuous successes in Saudi Arabia's tourism sector are a result of ongoing cooperation with various government entities. These collaborative efforts aim to support the development of the tourism sector by improving services and products offered to tourists.

This achievement reflects the extensive efforts made by the Ministry of Tourism and other components of the Saudi tourism system. Their work not only enhances the tourism sector but also significantly contributes to national economic growth as part of the National Tourism Strategy framework.

The increase in spending by inbound visitors is part of these continuous successes. The Kingdom's focus on achieving global leadership in tourism is evident through its strategic initiatives and improvements in infrastructure and services.

Overall, these developments highlight Saudi Arabia's commitment to becoming a top tourist destination globally. The positive trends in visitor spending and travel account surplus underscore the effectiveness of its strategies and efforts in promoting sustainable tourism growth.

With inputs from SPA