Travel account estimates about SAR 92.6 billion inbound visitors spending in the first half of 2024: MoT KSA

Ministry of Tourism in Saudi Arabia shared that travel account estimates about SAR 92.6 billion inbound visitors spending in the first half of 2024 based on balance of payments. Saudi Arabia achieved an 8.2% growth in inbound visitor spending in the travel account during the first half of 2024 compared to the same period in 2023, reaching around SAR 92.6 billion, the Kingdom has also recorded a surplus in the travel account of around SAR 41.6 billion. The growth in spending by inbound visitors to Saudi Arabia reflects the significant progress made by the tourism sector, as Saudi Arabia led G20 countries in international tourist arrivals and in international tourism receipts growth rate in the first seven months of 2024 compared to the same period in 2019, according to UN Tourism. In addition, the data highlights the success of the Tourism Ecosystem in elevating the sector to global leadership. This achievement is attributed to adopting best practices in tourism development, enhancing tourism-related services and products, and collaborating with government entities to promote the growth of the Kingdom’s tourism sector. This achievement underlines the efforts made by the Tourism Ecosystem in elevating the tourism sector to global leadership and increasing its contribution to the Kingdom’s economic growth.