Saudi Arabia Tourism increased massively in 2023
Saudi Arabia Tourism increased massively in 2023 , the Ministry of Tourism in Saudi Arabia has released promising statistics for the first quarter of 2023, demonstrating a remarkable improvement in the country’s travel-related financial balance. In contrast to a deficit of SR1.6 billion in the same period the previous year, Saudi Arabia now boasts a substantial surplus of SR22.8 billion.
Saudi Arabia Tourism 2023
This significant shift can be attributed to the exceptional growth in tourism revenues, which surged by an astounding 225% compared to the first quarter of 2022, reaching a staggering SR37 billion, according to data from the Saudi Central Bank (SAMA).
This achievement represents the culmination of the ministry’s steadfast dedication to strengthening the tourism sector and its pivotal role in advancing the national economy—a pursuit that seamlessly aligns with the goals outlined in the National Tourism Development Strategy.
SAMA’s data underscores the substantial contribution of the tourism sector to the Current Account Balance, showcasing the Ministry of Tourism’s relentless efforts, with robust support from Saudi leadership. These endeavors have positioned Saudi Arabia as one of the top global destinations through the implementation of best practices in tourism development, improvement of tourism services and products, and fostering collaboration with various government agencies to nurture the Kingdom’s tourism sector.
Recent achievements in Saudi Arabia’s tourism industry include an impressive 16-place jump in the international tourism revenue index, ranking 11th globally in 2022, a significant leap from 27th position in 2019. Additionally, Saudi Arabia continued to excel on the global stage, welcoming around 7.8 million tourists in the first quarter of 2023—an extraordinary 64% growth compared to the same period in 2019. Consequently, the Kingdom secured the second position globally in terms of the growth rate of international tourists, as per data released by the World Tourism Organization in May 2023. (Report by Saudi Gazette)
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