Saudi Arabia: Inbound visitor spending in first 3 quarters of 2023 exceeds SAR100 billion

Riyadh, Jan. 4 (BNA): The Saudi Ministry of Tourism announced a new foreign visitor spending record in the Kingdom of Saudi Arabia, based on data from the Saudi Central Bank (SAMA).

 

 Total spending during the first three quarters of 2023 surpassed SAR100 billion, SPA reported.

 

 By the end of Q3 of 2023, the surplus in the travel item in the balance of payments was estimated at around SAR37.8 billion, reflecting a growth rate of 72% compared to the surplus recorded during the same period in 2022.

 

The Kingdom’s tourism sector has fully recovered, witnessing a remarkable 150% increase compared to the pre-Covid-19 levels. This revival has been evident across diverse tourist destinations, which attracted an increasing number of both domestic and foreign visitors.

 

Reports from the World Tourism Organisation show that the Kingdom emerged as a leader among G20 countries in terms of growth of incoming tourists during the first three quarters of 2023. Moreover, the Kingdom has secured the second position among the fastest-growing tourist destinations globally.

 

WHQ