SAUDI ARABIA: The World Travel and Tourism Council (WTTC) has revealed a record-breaking year for the Saudi Arabian travel and tourism sector, with the 2024 Economic Impact Study reporting record highs for GDP contribution, sector employment and visitor spending in 2023.
Saudi Arabia reportedly welcomed more than 100 million tourists in 2023, seven years ahead of the target set in the country’s 2030 Vision. The current target is 150 million tourists for 2030.
According to the WTTC, the travel and tourism sector grew by more than 32 percent last year, contributing a record SAR 444.3 billion ($118.44 billion) to Saudi Arabia’s GDP, accounting for 11.5 percent of the total economy.
This is almost 30% higher than the previous record and highlights the sector’s vital new role in the country’s economic framework.
The sector supported more than 2.5 million jobs, up 436,000, accounting for nearly a fifth of employment in the country, a 24% increase from its peak before the COVID-19 pandemic hit.
Spending by international visitors increased by almost 57% year-on-year to reach SAR 227.4 billion (USD 60.62 billion), while spending by domestic visitors increased by 21.5% to reach SAR 142.5 billion (USD 38 billion).
Saudi Arabia’s main tourist attractions include the World Heritage Site of Salwa Palace in Diriyah {Image: Moodie Davitt, Shutterstock Official Account}
Julia Simpson, president and CEO of the World Travel and Tourism Council, commented: “The incredible achievements made by Saudi Arabia’s travel and tourism sector last year mark a pivotal moment in the country’s journey to become a global tourism leader.
“This success is a direct result of the Kingdom’s visionary approach to the sector and demonstrates a brilliant blend of cultural heritage and innovative tourism initiatives.
“As the sector continues to expand, it is expected to make a significant contribution to the development of global travel and tourism as well as play a key role in the future of the country’s diversified economy.”
His Excellency Ahmed Al Khatib, Saudi Arabia’s Minister of Tourism and Chairman of the UN Tourism Executive Council, said: “WTTC’s latest data provides further evidence of the rapid success we have achieved in transforming Saudi Arabia’s tourism industry.”
“Tourism is a key pillar of the Kingdom’s Vision 2030 economic diversification plan and we have made great progress in promoting investment in the sector, with more than US$800 billion allocated for 2030, as well as creating new jobs and increasing tourism’s contribution to GDP.”
