Riyadh, October 05, 2024 – The Ministry of Tourism announced today that Saudi Arabia witnessed an impressive 8.2% growth in inbound visitor spending during the first half of 2024, reaching approximately SAR92.6 billion. This marked increase in tourism revenue highlights the significant strides made by the Kingdom in enhancing its tourism sector, which has become a vital pillar of the nation's economic growth.
In addition to the rise in spending, Saudi Arabia recorded a substantial surplus in its travel account, amounting to SAR41.6 billion. This economic surplus underscores the country's burgeoning status as a major global tourism destination, attracting visitors from all over the world. According to data from the United Nations World Tourism Organization (UNWTO), Saudi Arabia led G20 nations in international tourist arrivals and posted the highest growth rate in international tourism receipts during the first seven months of 2024 when compared to the same period in 2019, the last year before the global pandemic.
The Ministry of Tourism attributes this remarkable growth to the successful implementation of best practices in tourism development, a strategic focus on enhancing tourism-related services and products, and close collaboration with various government entities. This holistic approach has propelled the tourism ecosystem into a position of global leadership, solidifying Saudi Arabia's role as a key player in the international tourism market.
As the Kingdom continues to elevate its tourism sector, this achievement reinforces the ongoing efforts to align with Vision 2030, Saudi Arabia's ambitious plan to diversify its economy and reduce its dependence on oil revenues. By fostering a vibrant and sustainable tourism industry, the Kingdom is paving the way for long-term economic growth and positioning itself as a premier destination for travelers worldwide.