Saudi Arabia recorded the largest increase in international tourism among G20 countries in the first seven months of 2024.
According to the United Nations Tourism Organization, the organization’s September 2024 World Tourism Barometer report highlights a 207 per cent rise in tourism revenue and a 73 per cent increase in international visitors compared to the same period in 2019.
During this period, approximately 17.5 million foreign visitors travelled to Saudi Arabia, boosting the country’s global appeal significantly. This marks a continuation of the growth trend from 2023, when the number of foreign visitors surged by 56 per cent to 27.4 million, positioning Saudi Arabia at the top of the UN’s list for tourism growth among major travel destinations.
The surplus from travel-related items also reached a new high of SR48 billion in 2023, up 38 per cent from the previous year.
In its 2024 Article IV Consultation report released in September, the International Monetary Fund (IMF) commended Saudi Arabia’s tourism sector for its significant achievements as part of the Saudi Vision 2030 initiative. The IMF particularly noted the sector’s crucial role in diversifying the Kingdom’s economic base, especially within the services sector, where tourism has become a key development driver.
The industry’s contributions to spending, employment growth, and GDP have positioned Saudi Arabia as a premier global travel destination. This growing reputation is fueled by the country’s diverse and enticing travel offerings, attracting an increasing number of visitors each year.
