Saudi Arabia’s travel and tourism sector expanded by over 32 percent in 2023, contributing a record SAR444.3 billion ($118.4 billion) to the nation’s gross domestic product, a new report revealed.
The World Travel and Tourism Council (WTTC)’s 2024 Economic Impact Research highlighted unprecedented achievements in the Kingdom’s GDP contribution, employment, and visitor spending.
The Kingdom welcomed 100 million tourists in 2023, achieving its Vision 2030 target seven years early. The goal was then increased to 150 million to reflect Saudi Arabia’s continued ambitions for the sector.
Julia Simpson, WTTC president and CEO, said: “Saudi Arabia’s travel and tourism sector’s extraordinary achievements last year mark a pivotal moment in its journey toward becoming a global tourism leader.”
She 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 and tourism development.”
The sector’s expansion by over 32 percent last year, represented 11.5 percent of the total economy, an increase of nearly 30 percent from the previous high, emphasizing the sector’s critical role in the country’s economic landscape.
It also saw a significant rise in employment, adding 436,000 jobs to exceed 2.5 million, accounting for almost one in five jobs in the country.
Notably, employment in this field has increased by nearly 24 percent since the previous peak, recovering from pandemic-related losses by 2022.
According to the report, international visitor spending surged by almost 57 percent, reaching SAR227.4 billion and breaking the previous record by SAR93.6 billion. Domestic visitor spending also saw substantial growth, rising by 21.5 percent to SAR142.5 billion.
Saudi Minister of Tourism and Chairman of the Executive Council of UN Tourism, Ahmed Al-Khateeb, said: “The latest data from WTTC provides further evidence of the rapid success we have achieved in transforming Saudi Arabia’s tourism industry.”
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