In a landmark achievement for Saudi Arabia, preliminary figures from the nation’s Central Bank have unveiled a staggering increase in expenditures by overseas guests for the year 2023. The travel sector witnessed a record-breaking spend of SAR135 billion, the highest ever recorded in the country, showcasing an impressive 42.8% increase from the previous year.
This exceptional rise in visitor spending is a continuation of the Kingdom’s string of successes in the realm of tourism. The year 2023 saw Saudi Arabia topping the United Nations Tourism List in terms of growth rate of international tourists, with a significant 56% upsurge in arrivals compared to 2019. Furthermore, the United Nations Tourism Barometer’s report from January 2024 highlighted a robust 156% rebound in tourist numbers for the Kingdom, when juxtaposed with figures from 2019.
The Kingdom has not only achieved high marks in attracting international guests but has also received global recognition for its burgeoning tourism industry.
Prestigious institutions such as the World Tourism Organization and the World Travel and Tourism Council have lauded Saudi Arabia for welcoming in excess of 100 million travelers from within and outside its borders in 2023. The country’s tourism sector has been praised for its exemplary performance and significant contributions to the overall economy.