SAUDI ARABIA. The World Travel & Tourism Council (WTTC) has revealed a record-breaking year for the travel and tourism sector in Saudi Arabia. Its 2024 Economic Impact Research has reported records in GDP contribution, sector jobs and visitor spend in 2023.
As reported, Saudi Arabia welcomed more than 100 million tourists in 2023, seven years ahead of the target set by the Kingdom’s 2030 Vision. A target of 150 million tourists has now been set for 2030.
According to the WTTC, last year the travel and tourism sector grew by more than +32% to contribute a record-breaking SAR444.3 billion (US$118.44 billion) to the Kingdom’s GDP, representing 11.5% of the entire economy.
This exceeded the previous record by almost +30% and underscores the sector’s pivotal new role in the nation’s economic framework.
Jobs supported by the sector grew by 436,000 to reach more than 2.5 million, representing almost one in five jobs in the country. That represents an increase of +24% over the previous peak, which was set before the COVID-19 pandemic struck.
International visitor spending surged by almost +57% year-on-year to reach SAR227.4 billion (US$60.62 billion). Meanwhile, domestic visitor spending grew by +21.5% to reach SAR142.5 billion (US$38 billion).
World Travel & Tourism Council President & CEO Julia Simpson commented: “Saudi Arabia’s travel and tourism sector’s extraordinary achievements last year mark a pivotal moment in its journey towards becoming a global tourism leader.
“This success is a direct result of the Kingdom’s visionary commitment to the sector, showcasing an impressive fusion of cultural heritage and innovative tourism initiatives.
“As the sector continues to expand, it promises to play a crucial role in the nation’s diversified economic future, while contributing significantly to global travel and tourism development.”
Saudi Arabia Minister of Tourism and UN Tourism Executive Council Chairman His Excellency Ahmed Al-Khateeb said: “The latest data from WTTC 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 plans and we have made great strides promoting investment in the sector – with more than US$800 billion earmarked by 2030 – as well as creating new jobs and growing the contribution of tourism to GDP.” ✈
