Saudi Arabia’s travel surplus increased by 7.8% to $13.3 billion in 2024 as more visitors spent money in the country
Saudi Arabia’s tourism industry made a record profit of $13.3 billion (SAR 49.8 billion) in 2024. This is 7.8% more than in 2023, according to the country’s tourism ministry.
Record Tourism Growth
Tourism in Saudi Arabia made a big profit in 2024. This happened because visitors from other countries spent 13.8% more money than in 2023. Their total spending reached about $40.9 billion (SAR 153.6 billion), according to early data from the Saudi Central Bank.
The Saudi Tourism Ministry said this growth happened because the country is improving its tourism industry to help the economy grow.
Saudi Arabia has been working on new tourism plans and offering more services and attractions to bring in more visitors.
More Visitors to Saudi Arabia
Saudi Arabia welcomed almost 30 million international visitors in 2024. This increase came from the country’s efforts to promote its cultural and entertainment activities, according to Saudi’s Tourism Minister, Ahmed Al-Khateeb. He spoke about this at the World Economic Forum in Davos in February.
He also said that tourism made up almost 5% of Saudi Arabia’s economy last year.
Saudi Arabia wants to reach 70 million visitors by 2030 and become one of the world’s top seven tourist destinations. To achieve this, the country needs to increase visitors by about 6.6 million per year, or 14.7% annually.
Al-Khateeb noted that Saudi Arabia started focusing on tourism late, as it only opened its borders in 2019. The goal is to grow tourism from 3% of the economy to 10% by 2030.
Investment in Hotels
In December, Saudi Arabia’s Public Investment Fund (PIF) started a new hotel management company called Adeera. This company will run hotels of different types, from budget to luxury.
Adeera will also create new Saudi hotel brands and train workers to improve their skills. The PIF said this will create new business opportunities and improve the hospitality experience in Saudi Arabia.
Published: 4th April 2025
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