In terms of worldwide tourism spending, Saudi Arabia jumps 15 spots to 12th place: UN Tourism
JEDDAH: According to the most recent UN Tourism report, Saudi Arabia has made a huge leap,
moving up 15 spots to 12th place in the world in terms of 2023 visitor expenditure. Out of the top 50 countries, this is the biggest jump.
The ranking comes after a September UN Tourism report that showed the Kingdom's dominance
among G20 countries with a startling 207 percent increase in international tourism receipts from
January to July 2024 compared to the same period in 2019 and a 73 percent increase
in the growth of foreign visitors.
These accomplishments highlight tourists' increasing trust in the Kingdom's varied and alluring
offerings and solidify Saudi Arabia's position as a top international vacation destination. According to Mahmoud Abdulhadi, deputy minister of destination enablement at the Ministry of
Tourism, the tourism industry has increased its target for 2030 from 100 million to 150 million
visitors in an effort to build on this momentum. If this goal is reached early,
there may be room for additional increases.
Abdulhadi stated during his remarks at last week's Future Hospitality Summit in Riyadh that
goals are continuously evaluated and modified in response to sector success.
The Kingdom's tourism development was hailed by the UNWTO as a "major milestone" in its
pursuit of worldwide leadership in the sector. According to the estimate, spending related to tourism exceeded $37 billion in 2023,
and hotel capacity nationwide increased significantly at the same time.
About 17.5 million foreign visitors visited Saudi Arabia in the first seven months of 2024. The Kingdom welcomed 27.4 million tourists in 2023, a 56% increase over 2019. Due to this upsurge, Saudi Arabia is now the #1 tourist destination on the UN's list.
Furthermore, the Kingdom's tourist surplus increased by 38% year over year to a record SR48
billion ($12.8 billion) in 2023.
In its September 2024 Article IV Consultation report, the International Monetary Fund praised
the noteworthy advancements Saudi Arabia's tourist industry has made under
the Saudi Vision 2030 project. The IMF emphasized the sector's critical role in diversifying the Kingdom's economy,
especially in the services sector, which has emerged as a major growth engine in terms of
GDP contribution, spending, visitor numbers, and job creation.
The most recent UNWTO Barometer report states that from January to July 2024,
international tourist arrivals reached 96 percent
of pre-pandemic levels, or around 790 million, an 11% increase over the same period in 2023. The Middle East led worldwide growth, according to the UNWTO, with a 26% increase in
foreign arrivals over 2019 levels.
Source arabnews.com
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