In 2023, Saudi Arabia's travel and tourism sector shattered records,
as highlighted by the World Travel & Tourism Council’s (WTTC) 2024
Economic Impact Research (EIR).
The sector's GDP contribution surged to SAR 444.3 billion (US$120
billion), marking a record-breaking 32% growth and comprising 11.5% of
the nation's economy.
Job creation soared with 436,000 new positions, totaling over 2.5
million jobs, nearly 20% of all employment in Saudi Arabia.
International visitor spending skyrocketed by nearly 57%, hitting SAR
227.4 billion (US$61 billion), while domestic spending climbed 21.5% to
SAR 142.5 billion (US$38 billion).
Achieving its goal of welcoming 100 million tourists in 2023, seven
years ahead of schedule, Saudi Arabia now targets 150 million tourists
by 2030. Minister of Tourism of Saudi Arabia, Ahmed Al-Khateeb,
highlighted the sector’s crucial role in the Kingdom's economic
diversification, with substantial investments and ambitious growth plans
for the next decade.
Looking forward, WTTC forecasts continued growth in 2024, with the
sector's GDP contribution expected to reach SAR 498 billion (US$134
billion), accompanied by over 158,000 new jobs and a projected doubling
of international visitor spending.