Saudi Travel & Tourism Break Records in 2023

The Kingdom of Saudi Arabia has officially broken all travel and tourism records for 2023, according to the latest findings of the World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR).

The country has set new records for its global domestic product (GDP) contribution, sector jobs, and visitor spending.

According to WTTC’s research, Saudi Arabia’s tourism sector has surpassed all its previous records, in line with the country’s aim of becoming a leading tourist destination.

In particular, the tourism sector grew by more than 32 percent, leading to a GDP contribution of SAR 444.3 billion (USD 118.43 billion), 30 percent more than the previous record.

This amount accounted for 11.5 percent of the kingdom’s economy.

Employment also grew by 436,000, up to 2.5 million workers.

Work in the tourism sector increased by almost 24 percent since the previous record.

Travelers from overseas spent 57 percent more, reaching SAR 227.4 billion (USD 60.61 billion).

Local travelers, on the other hand, spent 21.5 percent more, reaching SAR 142.5 billion (USD 37.98 billion).

Saudi Arabia: A fast-growing travel destination

Moreover, Saudi Arabia hit its target of attracting 100 million visitors seven years ahead of its 2030 target.

Saudi travel is now gearing up to achieve 150 million visitors by 2030.

“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,” remarked Julia Simpson, WTTC President & CEO.

Simpson added, “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.”

His Excellency Ahmed Al-Khateeb, meanwhile, the Minister of Tourism of Saudi Arabia and Chairman of the Executive Council of UN Tourism, said, “The latest data from WTTC provides further evidence of the rapid success we have achieved in transforming Saudi Arabia’s tourism industry.”

“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 $800 billion earmarked by 2030 – as well as creating new jobs and growing the contribution of tourism to GDP,” he added.

Targets in 2024 and in the next decade

In 2024, Saudi’s GDP contribution is set to reach SAR 498 billion (USD 132.74) by 2034, with an employment target of 2.7 million workers.

Foreign visitor spending is targeted to reach SAR 256 billion (USD 68.24), while domestic traveler spending is targeted to reach SAR 155.2 billion (USD 41.37).

WTTC predicts that the Middle Eastern Travel & Tourism sector will grow, with a GDP contribution pegged to reach USD 507 billion, jobs at 8.3 million, visitor spending at USD 198 billion, and domestic visitor spending at over USD 224 billion.