Ministry of Tourism announces: inbound visitors’ spending surpasses SAR 45 Billion during Q1 2024

The Kingdom of Saudi Arabia has witnessed a 22.9% increase in visitor spending in the first quarter of 2024 compared to 2023, with total expenditures surpassing SAR 45 billion. Additionally, the “travel” item reports that the Kingdom earned SAR 24 billion, reflecting a growth of over 46% compared to the same period in 2023. Preliminary data from the Saudi Arabian Monetary Authority (SAMA) on the balance of payments’ “travel” item indicates that travelers from the Kingdom spent approximately SAR 21 billion during the same timeframe. The increase in inbound visitors’ spending in the Kingdom marks another milestone in the ongoing success of its tourism sector. In 2023, the Kingdom topped the UN Tourism list for the highest growth rate in both international tourist numbers and tourism receipts among the world’s leading destinations, compared to 2019. This achievement highlights the efforts of the Ministry of Tourism and other components of the Saudi Tourism Ecosystem in promoting the tourism sector and contributing to the national economy’s growth. It is a key aspect of the National Tourism Development Strategy. The released documents have confirmed the effectiveness of the efforts by the Tourism Ecosystem to position the sector as a global leader. This has been achieved through the implementation of best practices in tourism development, the enhancement of tourism services and products, and ongoing collaboration with all government entities to support the development of the Kingdom’s tourism sector.