Saudi Gazette report

RIYADH — Saudi Arabia has achieved a significant growth of 22.9% in the total spending of visitors coming from abroad, reaching SR45 billion during the first quarter of 2024 compared to the first quarter of 2023. The Kingdom recorded an estimated travel surplus of SR24 billion with a surplus growth rate exceeding SR46 billion compared to the same period in 2023. This was revealed by the Saudi Central Bank (SAMA).

Spending of those who traveled abroad from the Kingdom is estimated at about SR21 billion during the same period, according to SAMA’s preliminary data on the travel item in the balance of payments.

The increase in spending by visitors coming to the Kingdom from abroad comes within a series of continuous successes achieved by the tourism sector in the Kingdom. Saudi Arabia emerged topper in the United Nations Tourism List with regard to the growth rate of the number of international tourists, and in the growth rate of tourism revenues among the leading tourist destinations in the world in 2023 compared to 2019.

The data released by SAMA also confirms the effectiveness of the efforts made by the tourism system to bring the sector to global leadership by applying best practices in tourism development and upgrading tourism services and products, in addition to continuous cooperation with all government agencies to support the development of the tourism sector in the Kingdom.

This achievement reflects the magnitude of the efforts made by the Ministry of Tourism and the rest of the agencies concerned with the Saudi tourism system to strengthen the tourism sector and its contribution to the growth of the national economy, and this comes within the framework of the National Tourism Development Strategy.