Saudi Arabia’s Travel & Tourism sector has achieved remarkable growth, with a record-breaking contribution of SAR 444.3 billion to the country’s GDP in 2023, marking 11.5% of the entire economy.
The sector expanded by over 32%, driving job creation with 436,000 new positions, totaling over 2.5 million jobs, representing nearly one-fifth of the country’s employment.
Notably, sector employment surged by almost 24% since the previous peak.
Inbound tourism spending soared by 57%, reaching SAR 227.4 billion, while domestic tourism expenditure also rose by 21.5% to SAR 142.5 billion.
The nation hosted 100 million tourists in 2023 and aims for a more ambitious target of attracting 150 million visitors by 2030.
Julia Simpson, President & CEO of the Saudi Arabia’s Travel & Tourism sector has achieved remarkable growth, with a record-breaking contribution of SAR 444.3 billion to the country’s GDP in 2023, marking 11.5% of the entire economy. (WTTC), commended Saudi Arabia’s tourism transformation and underscored the significance of sector investment.
Projections indicate the sector’s GDP contribution could reach SAR 836.1 billion by 2034, constituting almost 16% of the Saudi Arabian economy, with employment surpassing 3.6 million.
Across the Middle East, the Travel & Tourism sector witnessed substantial growth in 2023, totaling nearly $460 billion, supporting nearly 7.75 million jobs, and international spending reaching $179.8 billion, a 50% increase.
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WTTC forecasts sustained growth throughout 2024, with GDP contributions projected to hit $507 billion.
