Tag Archives: Visitor spending

The Saudi Ministry of Tourism proudly announced that Saudi tourism has reached a historic milestone in inbound visitor spending, as indicated by the Travel Account Data in SAMA’s Balance of Payments. Exceeding SAR 100 billion during the first quarters of 2023, this achievement resulted in a surplus in the Travel Account Data in the Balance of Payments, estimated at SAR 37.8 billion, reflecting a remarkable growth rate of 72% compared to the same period in 2022. These accomplishments coincide with the complete recovery of Saudi tourism, with the tourism sector’s rebound reaching an impressive recovery rate of 150% compared to pre-COVID-19 levels. Numerous Saudi tourist destinations have experienced a surge in both inbound and domestic visitors. This historic achievement is in line with reports from the UNWTO, confirming that Saudi Arabia led the G20 countries in the growth rate of inbound tourists during the first three quarters of 2023. Furthermore, Saudi Arabia secured the second position among the world’s fastest-growing tourist destinations

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