Saudi Arabia’s emergence as a tourism hotspot continues as record numbers of tourists spent more money than ever before.
The Kingdom has set a new record in spending by foreign visitors in 2023, as per preliminary data from the Saudi Central Bank regarding the travel item in the balance of payments.
Spending reached SR135bn ($36.8bn), marking the highest expenditure by foreign visitors in the Kingdom’s history, representing a growth rate of 42.8 per cent compared to 2022.
Saudi tourism boom
This historic surge in spending is part of a series of ongoing successes in the Kingdom’s tourism sector.
In 2023, the Kingdom led the United Nations Tourism List for the growth rate of international tourists compared to 2019, achieving a remarkable 56 per cent increase in tourist arrivals.
Additionally, the United Nations Tourism Barometer report in January 2024 indicated a 156 per cent recovery in the Kingdom’s tourist arrivals in 2023 compared to 2019.
Moreover, the Kingdom garnered international acclaim from the World Tourism Organization (UN Tourism) and the World Travel and Tourism Council (WTTC) for hosting over 100m domestic and international tourists in 2023.
Both organisations commended the tremendous efforts of the Kingdom’s tourism sector.
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