Saudi Arabia recalibrates tourism goal as 2030 target blitzed

Ambitious target of 100 million visitors achieved seven years early

Mountain top view of AlUla, Saudi Arabia

A new report has revealed a record-breaking year for Travel & Tourism in Saudi Arabia which has officials there recalibrating the Kingdom’s next tourism goal after the destination reached its 2030 goal seven years ahead of plan.

The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) shows Saudi Arabia reached its ambitious target of 100 million visitors in 2023, along the way setting new records in GDP contribution, jobs in the segment and visitor spend.

Saudi Arabia’s Travel & Tourism sector is now soaring past all previous records, testament to the country’s commitment to becoming a global tourism hot spot. Employment in the segment has risen by nearly 24% compared to the previous peak.

Hegra, AlUla, Saudi Arabia

Subscribe to LATTE’s free eNewsletter to keep up to date with everything in the luxury travel industry.

Last year, the sector grew by more than 32% to contribute a record-breaking SAR 444.3 billion (AU$180 billion) to Saudi’s GDP, representing 11.5% of the entire economy. This exceeded the previous record by almost 30%. Jobs supported by the sector grew by 436,000 to reach more than 2.5 million, representing almost one in five jobs in the country.

International visitor spending surged by almost 57% to reach SAR 227.4 billion (AU$92 billion), breaking the previous record by SAR 93.6 billion (AU$38 billion).

Now, Saudi Arabia is surging toward even greater heights and has set a more ambitious aim of attracting 150 million tourists by 2030.

Jeddah Yacht Club & Marina

Julia Simpson, WTTC President & CEO said; “Saudi Arabia’s Travel & Tourism sector’s extraordinary achievements last year mark a pivotal moment in its journey towards becoming a global tourism leader.

“This success is a direct result of the Kingdom’s visionary commitment to the sector, showcasing an impressive fusion of cultural heritage and innovative tourism initiatives.”

“As the sector continues to expand, it promises to play a crucial role in the nation’s diversified economic future, while contributing significantly to global Travel & Tourism development.”

“Tourism is a key pillar of the Kingdom’s Vision 2030 economic diversification plans and we have made great strides promoting investment in the sector – with more than US$800 billion earmarked by 2030 – as well as creating new jobs and growing the contribution of tourism to GDP,” said Minister of Tourism of Saudi Arabia and Chairman of the Executive Council of UN Tourism, His Excellency Ahmed Al-Khateeb.

Water Villas, Nujuma - A Ritz-Carlton Reserve - part of the Red Sea Project

Travel & Tourism is forecast to continue growing at pace in 2024, while jobs will increase by more than 158,000 jobs to reach nearly 2.7 million.

International visitor spending in Saudi Arabia is projected to reach SAR 256 billion (AU$103 billion) in 2024, almost double the previous high point.

WTTC is forecasting that the Middle Eastern Travel & Tourism sector will continue to grow throughout 2024 with the GDP contribution set to reach US$507 billion.

Leave A Reply

Your email address will not be published.

WP to LinkedIn Auto Publish Powered By : XYZScripts.com