Saudi Arabia saw a significant increase in spending by visitors coming from abroad during the first quarter of this year, with a growth rate of 22.9% compared to the same period in 2023. The total spending by these visitors exceeded 45 billion riyals ($11.99 billion), resulting in a surplus in the travel item estimated at 24 billion riyals, indicating a growth rate of over 46% compared to the same period in 2023.
According to initial data from the Saudi Central Bank on the travel item in the balance of payments, the spending of travelers from within Saudi Arabia is estimated to be around 21 billion riyals during the same period. This increase in spending by visitors coming to Saudi Arabia is part of a series of successes achieved by the tourism sector in the country.
The Kingdom has earned first place on the United Nations Tourism List for its growth rate as an international tourist destination and its revenue generated from tourism, positioning it among the best major tourist destinations worldwide for 2023 compared to 2019. This growth in tourism is a testament to Saudi Arabia’s ongoing efforts to promote and expand its tourism industry.
As part of these efforts, Saudi Arabia continues to attract visitors from around the world and enhance its tourism offerings to provide memorable experiences for travelers. The Kingdom’s increasing interest as a destination bodes well for its future development and continued growth as one of the world’s top tourist destinations.
On Sunday, Ewen Ferguson emerged victorious at the BMW International Open in Munich, securing an…
The use of facial recognition technology in law enforcement has sparked controversy and raised concerns…
The competition to secure AI talent is driving up salaries and providing attractive financial incentives…
Marshall Health is pleased to welcome two new eye care specialists, Dr. Raymond V. Mecca…
The Tampa Bay Rays were swept by the Texas Rangers in a three-game series, with…
The Minnesota Twins and the Chicago White Sox are set to face off in a…