Saudi Arabia’s tourism sector has soared to new heights, achieving its highest-ever inbound visitor spending in the first three quarters of 2023, according to data released by the Saudi Central Bank. The figures reveal an unprecedented surge in spending, surpassing SAR 100 billion ($26.67 billion) and marking a staggering 53 percent increase compared to the same period in 2022, as reported by the Ministry of Tourism.
Inbound spending by tourists amounted to SR102.6 billion ($27.36 billion), reflecting a remarkable growth rate of 72 percent, resulting in a surplus of SR37.8 billion. This surplus, calculated by subtracting outbound spending from inbound spending, showcases a substantial increase from the previous year.
The UN’s World Tourism Organization highlighted Saudi Arabia’s exceptional performance, noting it as one of the leading nations in terms of growth rate for inbound tourism among the G20 group. This accolade underscores the Kingdom’s burgeoning reputation as a top tourist destination.
The resurgence of Saudi Arabia’s tourism sector follows a robust recovery from the challenges posed by the COVID-19 pandemic. Reports from the Saudi Press Agency indicate a significant uptick in the number of both domestic and foreign visitors to tourist destinations across the Kingdom.
With these remarkable achievements, Saudi Arabia solidifies its position as a premier global tourism hub, poised to continue attracting visitors from around the world.
