Saudi Arabia’s Tourism Industry Surges, Attracting Foreign Visitors and Boosting Revenues

During the first quarter of 2023, Saudi Arabia experienced a surge in spending by foreign visitors, with an impressive growth rate of 22.9% compared to the same period in 2019. The total spending by these visitors exceeded 45 billion riyals ($11.99 billion), resulting in a surplus of 24 billion riyals in the travel item, indicating a growth rate of over 46% compared to the same period in 2019.

According to initial data from the Saudi Central Bank on the travel item in the balance of payments, it is estimated that travelers from within the Kingdom spent around 21 billion riyals during this time period. This increase in spending by foreign visitors is part of a series of successes achieved by Saudi Arabia’s tourism industry.

Saudi Arabia has recently earned first place on the United Nations Tourism List for its growth rate and revenues from international tourists, positioning itself among some of the top tourist destinations in the world for 2019 compared to 2018. The growth of tourism is a testament to Saudi Arabia’s ongoing efforts to promote and expand its tourism industry.

In addition to attracting foreign visitors and enhancing its offerings, Saudi Arabia continues to invest heavily in developing its tourism sector and providing memorable experiences for travelers. This increase in spending reflects growing interest in Saudi Arabia as a popular tourist destination and bodes well for future developments in this field.