Saudi tourism achieved a new record of incoming visitors’ spending, which exceeded SAR 100 billion ($26.6 billion) during the first three quarters of 2023.
This rapid growth is attributed to the Kingdom’s proactive strategies to increase tourist numbers © Mena Today
Saudi tourism achieved a new record of incoming visitors’ spending, which exceeded SAR 100 billion ($26.6 billion) during the first three quarters of 2023.
On Monday, the Ministry of Tourism announced that the Kingdom recorded the highest ever spending by inbound tourism until the end of the third quarter of 2023, which reached SAR 102.6 billion, with 53% growth year-on-year.
The travel surplus in the balance of payments rose by 72% compared to the same period in 2022, reaching SAR 37.8 billion at the end of the third quarter, according to data on the travel item in the balance of payments, the ministry added.
This comes as Saudi Arabia achieved a staggering 150% recovery rate in its tourism sector compared to pre-COVID-19 levels, outpacing the global recovery rate of 87% and leading the Middle East with a 120% recovery, according to a report by the UNWTO.
This rapid growth is attributed to the Kingdom’s proactive strategies to increase tourist numbers, especially following the launch of several new tourist destinations.
Saudi Arabia also ranked second among the fastest growing tourist destinations in the world.
Yemen's Iran-aligned Houthi militants fired on Saudi oil installations in two ports on the Red Sea coast on Saturday, but the United States held back from launching air strikes on Iran itself for the first night in two weeks.
Yemen is edging towards the resumption of a more than decade-old frozen conflict, Yemeni officials, Western diplomats and analysts say, as attacks on Saudi infrastructure and shipping by Iran-aligned Houthis test the patience of the kingdom and the Yemeni government forces it backs.
President Donald Trump said Thursday that a civilian nuclear cooperation deal signed with Saudi Arabia a day earlier is "totally subject" to the kingdom normalizing relations with Israel through the Abraham Accords, adding a significant condition that was not part of the original agreement as announced.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.