In the first quarter of this year, Saudi Arabia experienced a significant increase in spending by foreign visitors, with a growth rate of 22.9% compared to the same period in 2023. The total spending by these visitors exceeded 45 billion riyals ($11.99 billion), resulting in a surplus in the travel item estimated at 24 billion riyals, indicating a growth rate of over 46% compared to the same period in 2019.
The success of this growth is attributed to the ongoing efforts made by Saudi Arabia to promote and expand its tourism industry. According to initial data from the Saudi Central Bank on the travel item in the balance of payments, travelers from within the Kingdom spent approximately 21 billion riyals during the same period. This increase in spending by foreign visitors is part of a series of accomplishments achieved by Saudi Arabia’s tourism sector.
Saudi Arabia’s success as a tourist destination has been recognized on a global scale, earning first place on the United Nations Tourism List for growth rates related to international tourists and revenue generation. This achievement positions Saudi Arabia among some of the best major tourist destinations worldwide in 2019 compared to 2017.
In order to continue attracting visitors from around the world and providing memorable experiences, Saudi Arabia continues to enhance its tourism offerings. The country has invested heavily in developing infrastructure and cultural initiatives that appeal to tourists. For example, Riyadh hosted several cultural events during this period, including an international film festival and an Arabic language conference.
Despite facing challenges such as high costs of living and political instability, Saudi Arabia remains committed to promoting its tourism industry as a means of diversifying its economy and creating job opportunities for citizens. As more tourists visit Saudi Arabia, it is expected that this trend will continue into future quarters.
Overall, these successes are indicative of Saudi Arabia’s ongoing commitment to promoting its tourism industry as a way forward for economic development and job creation for citizens.
