Tourism Saudi Arabia Boom Continues: G20 Leader in Growth

Sunday, September 22, 2024

Saudi Arabia has emerged as the top G20 nation in international tourist growth during the first seven months of 2024, according to the latest UN Tourism Barometer report, which was presented at the G20 Tourism Ministerial Meeting in Belem, Brazil. The kingdom saw a staggering 73% increase in international tourist arrivals compared to the same period in 2019, welcoming 17.5 million visitors.In addition to the surge in tourist arrivals, Saudi Arabia experienced a remarkable 207% increase in tourism revenues, solidifying its position as a fast-growing global tourism hub. These achievements reflect the kingdom’s ongoing efforts to expand and diversify its tourism sector as part of Saudi Vision 2030.Tourism Growth Driven by Vision 2030This record-breaking growth follows a strong performance in 2023, when Saudi Arabia received 27.4 million tourists, marking a 56% increase from 2019. The kingdom also recorded a historic tourism revenue surplus of SAR48 billion, up 38% from the previous year.The International Monetary Fund (IMF), in its September 2024 “Article IV Consultation” report, commended Saudi Arabia’s tourism sector for its significant contributions to job creation, spending, and GDP growth. The IMF highlighted how the kingdom’s tourism developments align with its broader economic diversification goals under Saudi Vision 2030.Tourism Ministerial Meeting and Global RecognitionDuring the G20 Tourism Ministerial Meeting, Saudi Arabia’s progress in the tourism industry was prominently featured. The kingdom’s achievements underscore its commitment to positioning itself as a premier global destination for international travelers.As Saudi Arabia continues to implement its Vision 2030 strategy, tourism remains a key pillar of its economic growth plan. The kingdom’s efforts to develop world-class attractions, improve infrastructure, and create new tourism opportunities have been pivotal in its rise as a leader in the global tourism industry.