Tag Archives: SAR 49.8billion

Saudi Arabia has set new records in tourism recording its highest surplus in the travel account of the balance of payments in 2024 estimated at SAR 49.8 billion—a growth of approximately 7.8% compared to 2023. This impressive performance was driven by a 13.8% increase in inbound visitor spending compared to 2023, with total inbound visitor spending reaching an estimated SAR 153.6 billion in 2024, according to balance of payments preliminary data issued by the Saudi Central Bank. The Ministry of Tourism explained that the significant growth in the travel account surplus in 2024 reflects the efforts of the Ministry and other entities of the Saudi Tourism Ecosystem to strengthen the tourism industry and its contribution to national economic growth. It also underlines the successful measures taken to elevate the sector to global leadership by implementing best practices in tourism development, enhancing tourism services and products, and promoting strong collaboration with all government entities to support the development of the tourism sector—while advancing the goals of Saudi Vision 2030.

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