Saudi Tourism Hits Record Breaking $40 Billion
- Publish date: Tuesday، 02 April 2024
The Kingdom witnessed an astronomical surge in tourist spending.
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Saudi Arabia witnessed an astronomical surge in tourist spending in 2023, rocketing to an unprecedented $40 billion (which equates to SR135 billion), marking an astounding 42.8% surge from the previous year, as reported by the Saudi Central Bank.
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At the helm of this growth is Vision 2030, spotlighting tourism as a pivotal element in Saudi Arabia's journey towards global recognition. Facilitating this surge are relaxed visa restrictions, making the Kingdom more accessible to international travelers.
The surge in tourist spending reflects the efficacy of these endeavors, showcasing Saudi Arabia's allure to a broader spectrum of visitors eager to explore its multifaceted offerings.
The trajectory for Saudi Arabia's tourism sector points upwards. Upcoming mega-events like the 2029 Asian Winter Games and the 2030 Asian Games are set to further elevate its tourism standing. Simultaneously, ongoing mega-projects like NEOM and the Red Sea Project promise to draw a fresh wave of affluent tourists, signaling a promising future for Saudi Arabia's tourism landscape.
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