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Saudi Arabia’s tourism sector is on an upward trend, with international tourist spending reaching a staggering $12 billion in the first quarter of 2024. This remarkable growth represents a 22.9% increase compared to the same period in 2023.

According to preliminary data from the Saudi Central Bank’s travel account in the balance of payments, inbound visitors spent an estimated SR45 billion ($12 billion) during the first three months of 2024. This significant surge has resulted in a surplus in the travel account, amounting to SR24 billion ($6.4bn), a growth rate of over 46% compared to the same period in 2023.

Outbound travelers from the Kingdom, on the other hand, spent an estimated SR21 billion ($5.6 billion) during the same period.

Saudi Arabia’s tourism sector has been gaining momentum, having ranked first on the United Nations tourism list for the growth rate of international tourists and tourism revenues among top destinations globally in 2023 compared to 2019.

The country’s tourism system has been working diligently to achieve global leadership in the sector by applying best practices in tourism development and improving tourism services and products. This success is also attributed to ongoing cooperation with all government entities to support the development of the tourism sector in the Kingdom.

This achievement not only enhances the tourism sector but also significantly contributes to the growth of the national economy as part of the framework of the National Tourism Strategy.