RIYADH: The Ministry of Tourism of Saudi Arabia announced an impressive growth rate of 8.2 per cent in inbound visitor spending, totaling approximately 92.6 billion Saudi riyals during the first half of 2024.
The figure marks a significant increase compared to the same period in 2023, illustrating the robust recovery and expansion of the country’s tourism sector. In addition, the travel account recorded a surplus of around SR41.6 billion, further emphasising the economic potential of tourism as a key contributor to the Kingdom’s revenue.
The growth in spending reflects substantial advancements within the tourism ecosystem of Saudi Arabia, as noted in the ministry’s press release. The United Nations Tourism reported that Saudi Arabia has emerged as a leader among G20 nations, not only in international tourist arrivals but also in the ascent of international tourism receipts compared to 2019 figures.
This positions the Kingdom at the forefront of global tourism dynamics, showcasing its appeal and competitive advantage in attracting international visitors.
Growth contributor
This remarkable achievement can be attributed to various strategic initiatives undertaken by the Saudi government and tourism officials. The implementation of best practices in tourism development, the enhancement of tourism-related services and products, and the collaboration with various governmental entities have been pivotal in crafting a more vibrant and diversified tourism sector.
These efforts have not only elevated the Kingdom’s status on the global stage but also underscored the tourism sector’s potential to significantly contribute to the national economy.
