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Saudi Travel Market

10 – 12 FEB 2025 | 02:00 PM – 10:00 PM

Riyadh International Convention & Exhibition Center

THE PREMIER TRAVEL & TOURISM TRADE SHOW IN SAUDI ARABIA GENERATE LEADS | FORGE CONNECTIONS | INCREASE BRAND VISIBILITY | SHOWCASE PRODUCTS AND SERVICES

Stm 2024 statistics, what is stm.

Saudi Travel Market is a premier event in the travel and tourism industry, serving as a focal point for global and local stakeholders to converge, collaborate, and explore the dynamic landscape of Saudi Arabia’s travel sector.

Organized annually, STM brings together tourism authorities, travel companies, and enthusiasts to showcase and experience the richness of Saudi Arabia’s diverse destinations and offerings.

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  • First Day - Feb 10, 2025
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Top Travel Destinations in Saudi Arabia

Skift Trend Report: Decoding the Saudi Arabian Travel and Tourism Industry

Decoding the saudi arabian travel and tourism industry.

Saudi Arabia has been making significant moves to open up its borders to international tourists. Investing in tourism infrastructure, prioritizing transformation of unreachable attractions into accessible hotspots, providing tourist visas for the first time, and changing restrictive rules for women such as once-mandatory abayas (robe-like black dresses) are just some of the steps taken to change the Kingdom’s perception on the world stage and make it a tourist destination. “Opening Saudi Arabia to international tourists is a historic moment for our country,” said tourism chief Ahmed Al-Khateeb, according to Arab News.

Though still nascent, the domestic and international inbound travel segments in Saudi Arabia have been slowly evolving. The Kingdom has been making visible efforts to improve its infrastructure, encourage private investment to provide travelers with more places to visit, create entertainment options, and relax rules that previously made Saudi Arabia impermeable. In sharp contrast, the outbound travel market is quite mature. Saudi Arabians travel all over the world on a frequent basis and are high spenders. If anything, they are increasingly aligning with world travel trends and becoming more nuanced in their choices.

These evolutions present an opportunity for travel brands around the world. For the first time, travel brands can not only grow their businesses by attracting more Saudi travelers but also by being present in Saudi Arabia. However, in order for travel brands to find the right investment opportunities, understand the cultural nuances of conducting business there, target the right travelers, and capitalize on the growth spurt in the Kingdom, a strategic partner with expertise and understanding of the region is key.

Seera Group, one of the largest travel and tourism groups in the Middle East, with 40 years of experience across various travel verticals including consumer travel, corporate and government travel, Hajj and Umrah travel, hospitality, car rental and most recently, destination management for Saudi Arabia, believes that the time for a change in Saudi Arabia is now. “Think about Manhattan in the early 1900s, Berlin’s transformation in the 1990s, and Dubai’s in the 2000s. That time is now for Saudi Arabia — to experience and drive unprecedented economic and social change,” said Ross McAuley, vice president of marketing for Seera Group. “And travel and tourism, to me, is both a key driver and beneficiary of that change.”

As Seera Group partners with Saudi Tourism and other international brands to tap into the potential of Saudi travel and tourism, SkiftX has partnered with the company to unearth some of the top trends and growth opportunities in the region.

In this report:

  • The current state of the travel industry in Saudi Arabia
  • The triggers for growth in the Kingdom’s travel industry
  • The challenges that Saudi Arabia faces in driving tourism
  • Understanding the nuanced needs of Saudi Arabia’s outbound travelers
  • Saudi Arabia’s plan to grow domestic and international inbound travel beyond pilgrim and business trips

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Inside Saudi Arabia’s $800 Billion Tourism Moonshot

Traffic in Riyadh at sunset in Saudi Arabia capital city

The Middle East kingdom is on massive building spree—creating private islands, luxury hotels, theme parks, cruise ports, even a desert ski resort. The question remains: If they build it, who will come?

Whatever your preconceived notion of Saudi Arabia as a travel destination is, it’s about to be get a major renovation. Imagine Sindalah, for example, a  7-star private-island resort  with three ultra-luxe resorts, 38 high-end restaurants and multiple superyacht marinas. Or Qiddiya, a  futuristic city  of 600,000 people rising from the desert floor, dedicated to e-sports and gaming. How about Trojena, a space-age  ski resort  built above the high desert? Or The Red Sea, a  vast waterscape  of 50 luxury resorts and 8,000 hotel rooms spread across 22 islands in a Maldives-style archipelago—powered entirely by wind and solar energy? Also in the works is The Rig, a  $5-billion adventure theme park  built on an off-shore oil platform. In addition, Saudi Arabia is positioning itself as a  cruise destination , having recently bought a $300-million ship. Across the Kingdom, new roads, airports, golf courses and cruise terminals are rising from the sand. The map is literally being redrawn in real time.

Then there are all the new hotels, with their thousands of freshly built rooms. The world’s most iconic hospitality companies—Ritz-Carlton, Four Seasons, St. Regis, Fairmont, Marriott, Hilton, Hyatt and InterContinental—are falling over themselves to jump into a construction pipeline that’s churning faster than anywhere else in the world. Any one of these projects might momentarily pierce the travel industry’s fleeting attention span. But together, what’s going on in Saudi Arabia simply cannot be ignored.

Indeed, it can be often difficult to visualize the vastness of Saudi Arabia’s physical transformation. Some of the most notable ongoing projects—including Sindalah, the 7-star private island, and Trojena, the improbable desert ski resort—fall within NEOM, a $500-billion built-from-scratch region in northwest Saudi Arabia where the Kingdom is creating new cities, resorts and other developments. At 10,200 square miles and bounded by the Red Sea to the south and the Gulf of Aqaba to the west, it’s roughly the size of Albania.

Bankrolled mainly by the Kingdom’s $700-billion Public Investment Fund (PIF), the idea for NEOM was born out of  Vision 2030 , Saudi Arabia’s grand plan to shake off its historic reliance on oil and diversify its economy. One the scheme’s pillars involves reinventing the country as a global tourism juggernaut. When first announced in 2016, the Kingdom’s tourism goals seemed fanciful: Attract 100 million foreign and domestic visitors to the country every year and grow tourism’s share of the economy from about 3% to 10%. Oh, and do it all in just 14 years.

That aspiration seemed all the more preposterous given that, in 2016, Saudi Arabia had not yet opened its doors to international leisure travelers. At the time, travel to the Kingdom was almost entirely restricted to three types of people: expatriate workers, those with business visas, and religious pilgrims visiting the holy cities of Mecca and Medina.

Then in 2019,  Saudi Arabia announce d it would provide e-visas and visas on arrival to visitors from 49 countries, including the United States. Among other changes announced at the time: Female visitors would be exempted from wearing an abaya, the traditional and otherwise obligatory head-to-toe robe, in public places and would be allowed to travel without a male companion. Tourists would still be required to dress modestly and Mecca would remain off-limits to non-Muslims.

Since Saudi Arabia opened to the international travel market, the speed and spare-no-expense approach to its transformation has stunned even the most seasoned tourism analysts. “We’re seeing hugely ambitious plans, huge amounts of development,” says Caroline Bremner, head of travel and tourism research at  Euromonitor International . “Billions, ultimately trillions, worth of dollars being invested in infrastructure and in diversifying their economy.” The World Travel & Tourism Council (WTTC) estimated the Kingdom has already spent $800 billion, and that doesn’t include the massive amounts of foreign investments pouring in.

The pandemic delayed some projects, of course, but rather than scaling back expectations, the Saudis ratcheted up their goal to 150 million annual visitors by 2030. Here’s where semantics come into play. In tourism parlance, a “visitor” is defined as someone who visits a site within the country, which is very different from what Euromonitor deems an “arrival,” someone who makes an overnight stay. (Other organizations sometimes call the latter “tourists.”) Saudi Arabia had over 24 million foreign arrivals in 2023 and will welcome nearly 37 million in 2030, according to Euromonitor projections. “So if each of those 37 million overnight tourists visits three sites, you pretty much have got your 100 million visits,” Bremner says. “Then add on top of that your domestic tourists, and their own set targets are quite achievable.”

A more meaningful measure of success is how much foreigners are expected to spend while in Saudi Arabia. Euromonitor predicts that international tourists will spend $38 billion in 2030. But the total economic impact for Saudi Arabia will be far greater after adding in domestic travelers’ expenditures and the ripple effect of one million new tourism jobs. The WTTC projects that, by 2032, Saudi Arabia’s tourism sector could contribute nearly $169 billion to its GDP, representing 17.1% of the total Saudi economy.

“Remember, they’re building this destination on the ledger, essentially from scratch, for the international market, and they are bringing in the best of the best in terms of the quality of people they’re working with” says Bremner. “I can see that they’ve thought through every single aspect of tourism, from the staff to the product, the brand, the service, the connectivity, the sustainability. So it really does feel like they’re building something for the next century ahead.”

Preparing for the future also means recognizing the seismic shift in what the next generations of global travelers will want. Roughly 90% of young Chinese travelers and 70% of Gen Z travelers in the UK, Australia and India say they are looking to discover new destinations, according to data from  Skift Research . In that sense, being the new kid on the tourism block is an enormous plus.

“New generations have a lot more information through social media,” Billy Canellas, head of asset management at NEOM,  told conference-goers  at the Skift Global Forum East in December. “[Younger travelers] are very well educated about the effects of overtourism in traditional destinations,” he added, noting “a clear tendency towards the eco-friendly and sustainable destinations” and an eagerness to learn about a destination’s “culture and the traditions of diversity.”

“The luxury market is getting more diverse and younger, and it’s shifting to the emerging markets,” says Bremner, noting that the United Arab Emirates, India and China are all highly appealing to this demographic. “We have this fresh-faced luxury traveler, and it’s not the traditional older generation of travelers with lots of money. It’s the New World luxury traveler, highly digital, very environmentally conscious, and for whom social impact is important.”

“Make no mistake,” says Geoff Freeman, president and CEO of the U.S. Travel Association, “what Saudi Arabia is doing is they’re identifying who are some of the most important travelers are—the people willing to spend a lot of money on experiences—and asking, How do we go get them?”

There are, of course, many ways for the Saudi grand vision to go sideways. First, there are enormous financial risks inherit in tackling so many giga projects all at once, even for a country with bottomless pockets. “The Saudis are running at 82% public debt compared to government revenue,” Bremner says, noting that official public debt as a percentage of GDP was 23.8% in 2023. Still, it’s all relative. The Kingdom’s debt-to-GDP ratio is nearly double what it was a decade ago, but still quite low compared to other countries. For example, Switzerland’s government debt is 41% of GDP. The U.S. and Canadian governments’ debt is 133% and 106% of GDP, respectively. The U.K.’s debt is 98% of GDP.

Bremner’s biggest concern is hotel overcapacity, which would ultimately suppress prices. “That luxury positioning is going to come under a little bit of erosion, because [the Saudis] are moving so quickly. With that level of supply, it is quite hard to balance,” she says, adding that Euromonitor International’s latest forecast model predicts that the average traveler’s spend will have already dropped by 2030. “Too many hotel rooms that aren’t being filled will drive prices down, so that’s a risk.”

In addition, Saudi Arabia has a persistent PR problem among many would-be travelers, especially those from the West. The Kingdom still has strict laws about drinking and severe restrictions for women, not to mention allegations of human rights abuses and attacks against journalists. In 2021, the U.S.  officially blamed  Saudi Crown Prince Mohammed bin Salman for the 2018 murder of  Washington Post  journalist Jamal Khashoggi.

But any concerns about human rights haven’t stopped multinational corporations from investing in the Kingdom’s grand vision. “For some players, it will be a very important issue, perhaps a complete barrier to entry,” says Bremner. “However, we can see that the majority of luxury hotel brands have already shifted from China and the U.A.E. into Saudi Arabia.”

After all, the international travel market loves nothing more than a shiny, new destination in an emerging market and right now, the Middle East is having a moment. “You have the Middle East in the sort of perfect location,” says Bremner, “just like Turkey—within a five-hour flight of Asia and of Western Europe.”

Even with the start of the Israel-Hamas War last October, the Mideast was nevertheless the fastest-growing tourism region in 2023, with international arrivals 23% above pre-pandemic levels, according to the  UN World Tourism Organization’s Tourism Recovery Tracker . That’s 35% above the global average, as the rest of the world’s tourism is, on average, still at a 12 point deficit compared to 2019 visitor volume.

While just over three million American tourists visited the region in 2023—making up 12.6% of total outbound U.S. tourists—that’s a massive 39% jump from 2019. And though the Middle East’s portion of American tourists was smaller than those of Europe (40%) and Asia (15.7%) last year, it was the only one of the three regions that has grown since the pandemic.

But Freeman isn’t concerned about Saudi Arabia’s ability to lure large numbers of American tourists. “I’m worried about them trying to attract Europeans, high-spending Middle Easterners, and Asians, who might have otherwise come and spent their money in the United States,” he says.

After all, Freeman says, international tourism is an increasingly competitive sport where one country’s gain is another’s loss: “What gives us pause,” he says, “is that other nations now realize that travel is a global competition to figure out who can attract the customer.”

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Saudi Arabia’s Travel & Tourism to Have Fastest Growth in the Middle East Over the Next Decade

saudi tourism market

Saudi Arabia’s Travel & Tourism to have fastest growth in the Middle East over the next decade

Employment in the sector set to double by 2032

Sector expected to surpass pre-pandemic levels by next year

Saudi Arabia to host WTTC’s 22 nd Global Summit later this year

London, UK: The World Travel & Tourism Council ( WTTC ) has revealed the Travel & Tourism sector in Saudi Arabia is expected to grow at an average of 11% annually over the next decade, making it the fastest growing Travel & Tourism in the Middle East.

According to the forecast from WTTC’s latest Economic Impact Report (EIR), this annual growth, more than six times the 1.8% growth rate of the country’s overall economy, will bolster the economic recovery of the Kingdom.

By 2032, the Travel & Tourism sector’s contribution to GDP could reach nearly SAR 635 billion, representing 17.1% of the total economy.

The forecast also reveals Travel & Tourism employment could double over the next 10 years, creating more than 1.4 million jobs, to reach almost three million employed within the sector by 2032.

The projections for both employment and the sector’s contribution to the Kingdom's economy, surpass the ambitious goals set out by the government’s Vision 2030 strategic framework.

By 2023, following two years of heartache, Saudi Arabia’s Travel & Tourism sector's contribution to the national economy could surpass pre-pandemic levels, when it is projected to rise 2% above 2019 levels, to reach nearly SAR 297 billion.

Employment in the sector could also exceed 2019 levels by 14.1%, creating more than 223,000 additional jobs, representing nearly more than 1.8 million by the end of next year.

By the end of this year, the sector’s contribution to GDP is expected to grow 15.2% to nearly SAR 223 billion, amounting to 7.2% of the total economic GDP, while employment in the sector is set to grow by 16.1% to reach more than 1.5 million jobs.

According to the global tourism body, the Kingdom, due to host WTTC’s 22 nd Global Summit in Riyadh from 28 November to 1 December this year, is witnessing a faster than average recovery following the government’s total commitment to the Travel & Tourism sector, ensuring it remained at the forefront of the global agenda.

Julia Simpson, WTTC President & CEO, said: “Throughout these difficult times for our sector, the Saudi Arabia government has recognised the importance of Travel & Tourism and has led the world in its recovery. Through his leadership, Travel & Tourism will become a driving force of the Saudi Arabian economy and will surpass the goals set out in its Vision 2030 blueprint.

“I would like to commend Ahmed Al Khateeb, who has shown strong leadership during this crisis which has boosted the sector’s growth with unprecedented investments and new approaches to tourism.

“I am delighted the Kingdom is hosting our 22 nd Global Summit, where we will be able to continue our efforts of showcasing the importance of the Travel & Tourism sector and look ahead to the future of travel.”

Before the pandemic, Saudi Arabia’s Travel & Tourism total contribution to GDP was 9.7% (SAR 291.6 billion) in 2019, falling to just 6.6% (SAR 190.6 billion) in 2020, representing a staggering 34.6% loss.

The sector also supported nearly 1.6 million jobs, before an almost complete halt to international travel which resulted in a loss of 350,000 (22.2%), to reach just over 1.2 million in 2020.

Download the press release >

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'Tourism is the new oil': How Saudi Arabia is targeting an influx of travellers

The kingdom now claims the title of the world’s fastest growing tourism destination.

Saudi Arabia is the world's fastest growing tourism destination and there is a lot more to come said Fahd Hamidaddin, chief executive of Saudi Tourism Authority. Photo: Saudi Tourism

Saudi Arabia is the world's fastest growing tourism destination and there is a lot more to come said Fahd Hamidaddin, chief executive of Saudi Tourism Authority. Photo: Saudi Tourism

Hayley Skirka author image

In September 2019, Saudi Arabia opened its doors to wide-scale tourism for the first time.

Launching its first tourist visa, the kingdom began welcoming visitors from 49 countries around the globe and it wasn't long before travellers were flocking there to explore its ancient history and discover more about a destination that had been sealed off for decades.

But the first chapter of this story was short-lived as the Covid-19 pandemic hit six months later, halting most international travel .

Despite that, tourism within the country thrived and Saudi Arabia now claims the title of the world’s fastest growing tourism destination, according to data from the UN World Tourism Organisation.

Jazan in Saudi Arabia. The Covid-19 pandemic forced domestic travellers to explore what was right on their doorstep. Photo: Shutterstock / Ajmal Thaha

Fahd Hamidaddin, chief executive of the Saudi Tourism Authority, told The National at Arabian Travel Market in Dubai : “During the pandemic, even the wealthiest — the yacht and private jet owners — had no option but to fly within Saudi. So they discovered the country by force, and now they're continuing to discover it by choice.”

And with pandemic restrictions now a thing of the past, Saudi Arabia is gearing up for its next chapter.

42,000 new hotel rooms in the pipeline

In 2022, more than 93.5 million tourists visited Saudi Arabia, 77 million of whom were domestic travellers and 16.5 million were international tourists.

Nujuma, a Ritz-Carlton Resort, is one of several new luxury hotels opening in Saudi Arabia this year. Photo: Red Sea Global

The country has committed $550 billion to tourism development across the kingdom by 2030, the largest global investment in tourism by far. And there are 42,000 new hotel rooms in the pipeline, easily the most in the GCC region, says Hamidaddin.

This initial success has led the country’s leaders to reassess the original 100 million visitor target it set as part of the Saudi Vision 2030 programme and new targets are currently being agreed upon.

Despite the rapid development, there’s still a shortage of facilities to satisfy travel demand. “The main challenges today are a shortage of airlifts, accommodation and experiences,” says Hamidaddin.

Saudi Arabia’s home-grown version of Airbnb

One company aiming to help fill that gap is Gathern, currently the country’s best performing tourism company says the Saudi Tourism chief executive.

“Gathern is the alternative Airbnb, the Saudi version. It’s a home-sharing platform that started with a few hundred listings and I think today it has exceeded 20,000 across the country,” says Hamidaddin.

View this post on Instagram A post shared by Gathern | جاذرإن (@gathernapp)

Listings include all types of accommodation from villas, farms and caravans to yachts and rustic chalets. There is also a wide variety of room rates on offer, catering towards different budgets — something that seems to be missing from many of the country’s tourism megaprojects.

From Banyan Tree AlUla to Six Senses Southern Dunes (launching as the first resort at The Red Sea destination in the coming months) or the Four Seasons heading to Neom’s Sinadalah Island, luxury accommodation seems to be the focus. However, it is a trend that the country's tourism authority are aware of.

Six Senses Southern Dunes will be the first resort to open at Saudi Arabia's The Red Sea destination later this year. Photo: Foster+Partners

“It’s important that we cater for all travellers, by social income class and by travel purpose. People that travel for wellness are very different than those that travel for adventure, culture and events. And so we need to make sure that our offering is looked at holistically,” says Hamidaddin.

In Riyadh — home to the towering Kingdom Centre and historic Masmak fort — there are plenty of hotel options to choose from, ranging from budget stays to luxury boutique hotels. But even here, there’s work to be done.

“Riyadh has so many hotels, many of which are on highways. But when I think of Dubai, the best performing hotels are not the ones on Sheikh Zayed Road, people don’t want to stay on a highway. I think what we want is to ensure that travellers can come and find a place to stay, and things to do that are connected and accessible,” says Hamidaddin.

Changing perceptions of a kingdom

'I think the people are the most telling about what this country is,' said Hamidaddin. Photo: Saudi Tourism

Hamidaddin accepts there are other challenges facing Saudi Arabia’s tourism industry, including how the country is still perceived by some internationally.

“In every industry, in any market, when a new brand comes in, there are the early adopters, the followers, the laggers and there are the sceptics that will never try that brand, that will say it’s not for me, and that’s fine.”

Fahd Hamidaddin, chief executive of the Saudi Tourism Authority. Reuters / Abdel Hadi Ramahi

“The best way to address the perception of Saudi Arabia is by having travellers come see it for themselves. And that has served us the best.

“The early adopters have been blown away, not just by the offering of the place, but mostly by the people. And I think the people are the most telling about what this country is, and how different from the perceptions and preconceptions that people had.”

Tourism is Saudi Arabia's new oil

Over the coming years, Saudi Arabia will aim to entice travellers with several new destinations and developments.

In Diriyah, the 300-year-old city and birthplace of Saudi Arabia, ancient Unesco-protected sites have reopened to visitors with plans for a boulevard consisting of an opera house, fashion houses, art galleries, cafes and more.

Argentina's Lionel Messi and his wife Antonela Roccuzzo visit Diriyah, the birthplace of Saudi Arabia. Photo: Saudi Tourism Authority  /  AFP

On the Red Sea coast, the site of some ambitious luxury tourism projects, a new airport and the first three hotels in a pipeline of 50 will open this year, offering travellers access to a cluster of unexplored islands and inland sites.

In futuristic Neom , Sindalah Island will open early next year with the launch of three properties from Marriott, including the first Autograph Collection Hotels property in the kingdom.

In 2026, Trojena at Neom will open in the kingdom's highest mountain range. This snow-capped mountain will be the first major outdoor skiing destination in the GCC, and host the2029 Asian Winter Games. It will also offer glamping and nature-laden stays at Collective Trojena , the region's first eco-glamp site.

A slew of events, such as electronic dance music festival MDLBeast Soundstorm, the F1 Saudi Arabian Grand Prix, Riyadh Season and AlUla Skies hot-air balloon festival are also on the calendar.

MDLBEAST Soundstorm 2022 in Riyadh is one of several events on the tourism calendar. Photo: MDLBEAST Soundstorm

Each of these developments and events are part of Saudi Arabia's mission to diversify away from oil, something that simply cannot be done without tourism.

“The WTTC [the World Travel and Tourism Council] said one of every five new jobs came from tourism in the last decade, and one of every four new jobs will come from the industry in the coming five to 10 years. While other industries lose jobs to robots, these human-led sectors continue to provide and tourism sits at the forefront for us,” says Hamidaddin.

“What we're doing, we are doing for our people, for our economy, and the world is going to reward us. In the 1920s the world came to Saudi for oil, but in the 2020s, we're expecting the people of the world to come for tourism. And that's why we say that tourism is the new oil.”

Grand Hyatt The Red Sea is part of phase one of the mega-tourism project in Saudi Arabia. All photos: The Red Sea Development Company

Grand Hyatt The Red Sea is part of phase one of the mega-tourism project in Saudi Arabia. All photos: The Red Sea Development Company

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Saudi arabia travel & tourism market report 2022: increased personal disposable income expected to drive growth.

Dublin, June 28, 2022 (GLOBE NEWSWIRE) -- The "Saudi Arabia Travel & Tourism Market, By Product/Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Others), By Type, By Purpose of Visit, By Tourist Profile, By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering. Saudi Arabia travel & tourism market is projected to grow at a formidable rate during the forecast period. The growth can be attributed to the increasing number of initiatives by the Saudi government to encourage tourism in the country as a part of Saudi Arabia Vision 2030 project.

The Kingdom has planned an investment of USD810 billion in culture, leisure, and entertainment over the next decade. The strategy has significantly contributed to enhancing the country's attractiveness as a tourist destination and the kingdom plans to make progress toward its goal to have 100 million visitors in the country by 2030.

There have been increased focus upon creating a brand-new hospitality landscape in the country by launching giga projects across the Kingdom and some massive leisure projects on the western coast. "Amaala project", "Qiddiyah project", "Red Sea project" and other such projects are expected to promote Saudi Arabia's heritage, and thus contribute towards the growth of Saudi Arabia travel & tourism market.

Religious traveling by national and international visitors as well as increasing personal disposable income are expected to drive the growth of Saudi Arabia travel & tourism market. Growing affordability of airline travel and rising expenditures by tourists towards foods, souvenirs, clothing, etc., are expected to encourage the growth of Saudi Arabia travel & tourism market during the next five years.

Objective of the Study:

To analyze the historical growth of the market size of Saudi Arabia travel & tourism market from 2017 to 2021.

To estimate and forecast the market size of Saudi Arabia travel & tourism market from 2022 to 2027 and growth rate until 2027.

To classify and forecast Saudi Arabia travel & tourism market based on product/service offering, type, purpose of visit, tourist profile, competitional landscape, and regional distribution.

To identify dominant region or segment in the Saudi Arabia travel & tourism market.

To identify drivers and challenges for Saudi Arabia travel & tourism market.

To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia travel & tourism market.

To identify and analyze the profile of leading players operating in Saudi Arabia travel & tourism market.

To identify key sustainable strategies adopted by market players in Saudi Arabia travel & tourism market.

Key Target Audience:

Travel & tourisms providers, end users, and other stakeholders

Distributors and suppliers of the related products and services

Organizations, forums, and alliances related to travel & tourisms

Market research and consulting firms

Report Scope: In this report, Saudi Arabia travel & tourisms market has been segmented into following categories, in addition to the industry trends which have also been detailed below: Saudi Arabia Travel & Tourisms Market, By Product/Service Offering:

Ticket Reservation

Hotel Booking

Holiday/Tour Packages

Travel Insurance

Saudi Arabia Travel & Tourism Market, By Type:

Saudi Arabia Travel & Tourism Market, By Purpose of Visit:

Leisure & Recreation

Social Activity

Saudi Arabia Travel & Tourism Market, By Tourist Profile:

Foreign Nationals

Saudi Arabia Travel & Tourism Market, By Region:

Northern & Central

Key Topics Covered: 1. Service Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID -19 on Saudi Arabia Travel & Tourism Market 5. Saudi Arabia Travel & Tourism Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By End Users (Individual, Enterprises) 5.2.2. By Application (Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Others) 5.2.3. By Communication Type (Fixed Wireless Access, Enhanced Mobile Broadband, Massive Machine-Type Communication, Ultra-Reliable Low-Latency) 5.2.4. By Industry (Manufacturing, Media & Entertainment, Government, Energy & Utilities, Transportation & Logistics, Healthcare, Others) 5.2.5. By Region (Western, Eastern, Northern & Central, Southern) 5.2.6. By Company (2021) 5.3. Market Map 6. Saudi Arabia Individual Travel & Tourism Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Application 6.2.2. By Communication Type 6.2.3. By Industry 7. Saudi Arabia Enterprise Travel & Tourism Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Application 7.2.2. By Communication Type 7.2.3. By Industry 8. Market Dynamics 8.1. Drivers 8.2. Challenges 9. Market Trends and Developments 10. Policy & Regulatory Landscape 11. Saudi Arabia Economic Profile 13. Strategic Recommendations Companies Mentioned

Mobile Telecommunication Company Saudi Arabia K.S.C.P. (Zain)

Saudi Telecom Company

Etihad Etisalat Company (Mobily)

Integrated Telecom Company

Huawei Tech Investment Saudi Arabia Co. Ltd

Etihad Atheeb Telecommunications Co. (GO Telecom)

Virgin Mobile KSA

Arab Satellite Communications Organization

Hewlett Packard Enterprise Int'l Trade BV Saudi

Nokia Al Saudia

For more information about this report visit https://www.researchandmarkets.com/r/26d79n

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Oxford Business Group

Saudi Arabia is positioning itself as the next leader in tourism

Saudi Arabia | Tourism

As part of its long-term plans for economic diversification away from hydrocarbons, Saudi Arabia has set far-reaching goals for the development of its tourism sector. It seeks to achieve 100m domestic and international tourist trips per year, a significant target when compared to global benchmarks. For comparison, France, the global leader in international tourist arrivals, received 90m international visitors in 2019.

Ultimately, success in meeting the 2030 target will depend on the country’s ability to promote a value proposition that appeals to diverse source markets; the expansion and improvement of infrastructure, human capital and technological capabilities; and the adoption of sustainable financing strategies.

Demand Diversity

The Covid-19 pandemic and subsequent inflationary pressures in 2021 and 2022 disrupted the international tourism market. While the purchasing power of some international travellers has been affected, the most affluent segments have been largely immune to these price pressures, which is positive news for niche tourism segments such as ecotourism and heritage tourism. In light of this, Saudi Arabia is opening up as an international destination at a time of increasingly complex tourism demand. Indeed, the diverse nature of the Kingdom’s tourism giga-projects reflects the intent to cater to this market. For example, The Red Sea Project offers a diverse array of sustainable land and sea luxury experiences, developments in Al Ula and Diriyah capitalise on the Kingdom’s cultural heritage, while NEOM offers opportunities to explore many different concepts including unique nature experiences.

To sustain demand for these extensive projects, Saudi Arabia is looking to attract tourists from a wide variety of source markets. As well as nurturing demand among Muslim pilgrims for the Kingdom’s expanding tourism attractions, Saudi Arabia seeks to increase arrivals from both Western and Asian markets for non-religious tourism. However, the pool from which Saudi Arabia can draw foreign tourists for non-religious activities is finite, and there is strong competition from other more established tourism destinations in the region.

As a result, policymakers are seeking to capitalise on the potential of the Kingdom’s sizeable domestic tourism market, with the government aiming to attract up to a quarter of the $20bn Saudis spent on tourism abroad annually before the pandemic – particularly in destinations such as Bahrain and Dubai – by 2030. These regional destinations have traditionally benefited from insufficient leisure opportunities in Saudi Arabia, where two-thirds of the country’s population is under 35 years of age.

Addressing Gaps 

Boosting the number of visitors and tourism expenditure will require an expansion of Saudi Arabia’s transport infrastructure, human resources and digital know-how. With regards to transport, facilitating more arrivals to the Kingdom will be as important as improving internal mobility.

In terms of arrivals, the Saudi Tourism Authority and Dubai-based passenger carrier Emirates signed a memorandum of understanding (MoU) in February 2022 to leverage the airline’s global network and boost inbound tourism. In July 2022 the authority announced it would cut airport charges by up to 35%, a move that in part responds to the fierce competition in a region with some of the world’s largest air hubs. It also follows plans to introduce incentives for airlines to fly unprofitable routes, establish a new Riyadh-based airline and build a new airport in the capital, as it targets a vast increase in tourist arrivals.

As for internal mobility, movement in an out of Makkah, Medina and the holy sites is being facilitated through road improvements and the upcoming commissioning of the Haramain High-Speed Rail. Plans are also under way to build a tram system connecting the various landmarks at Al Ula. At a country-wide level, the Saudi Railway Company and Cruise Saudi signed a MoU in April 2022 to advance the integration of marine and railway passenger services.

In terms of human resources, as visits increase and hotel capacity expands – with the expected addition of 310,000 new hotel rooms by 2030 worth $110bn – preventing bottlenecks will require striking the right balance between Saudiisation commitments and operational needs. Efforts to support skills development in the sector will likely be needed.

Digitalisation

One of the key tasks for future talent in Saudi tourism will be communicating the Kingdom’s evolving national image and socio-cultural profile effectively in line with its tourism aspirations, as well as building and promoting detailed value propositions for each demand segment. In this regard, boosting the digitalisation of the tourism sector, particularly at the level of marketing, communications and analytics for service development, is viewed as key to transforming the travel industry.

According to a 2021 report by Tourism Economics and Google, the Kingdom is only in the initial stages of tourism digitalisation compared to other destinations. In this context, the report estimates that, with the right set of digitalisation policies and investment, potential gains attributable to digital advances could be vast by 2025. Around 139,000 new jobs could be directly or indirectly generated, and a cumulative increase in tourism spending of $12.2bn could be registered between 2020 and 2025.

Sustainable Financing

To develop appealing destinations and acquire the right capabilities, the Kingdom will have to mobilise vast financial resources. During the fifth iteration of a gathering organised by the Future Investment Initiative – a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund – the Ministry of Tourism set the amount of planned investment in the industry at $1trn over the next 10 years. To deploy this level of funding in ways that increase private participation, mitigate risks and promote sustainability – all key aspects of Vision 2030 – collaborative and multi-stakeholder frameworks are required. In this sense, recent developments around the financing of giga-projects indicate what the future might hold.

In January 2022 The Red Sea Development Company (TRSDC) – the developer of The Red Sea Project and Amaala – achieved financial close on a SR14.1bn ($3.76bn) term and revolving loan facility with four leading Saudi banks in what constituted the firstever riyal-denominated green finance facility. This opens the possibility of raising additional financing by capitalising on rising investors’ appetite for green assets. Such funding can support TRSDC’s commitment to have more than 75% of its buildings achieving a LEED Platinum rating, an internationally recognised certification, and to provide net-zero flight schemes for guests. TRSDC’s focus on sustainability integrates with international Saudi Arabia-led initiatives in sustainable tourism, such as the creation of the Sustainable Tourism Global Centre (STGC) in 2021, and the launch of STGC’s Tourism Panel on Climate Change in April 2022, a scientific initiative modelled after the UN’s Intergovernmental Panel on Climate Change.

Multi-pronged Strategy 

Elsewhere, NEOM’s funding roadmap reflects a multi-source approach. Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud stated at a press conference in July 2022 that investment in NEOM’s first phase could reach SR1.2trn ($320bn) by 2030. The Public Investment Fund would cover roughly half of the required financing, with the remaining half being drawn from other sovereign wealth funds in the region, private investors and an initial public offering of NEOM itself on the Saudi Exchange by 2024. The creation of NEOM is a project of urban development involving many mixed-use spaces which, by their very nature, allow for risk mitigation by balancing opportunities across several sectors aside from tourism, such as residential and commercial real estate.

Beyond giga-projects, public-private syndicated financing is also being deployed to increase the contribution of small and medium-sized enterprises (SMEs) to the sector. To this end, in June 2022 the Tourism Development Fund (TDF) and Arab National Bank launched an $80m Tourism Finance Programme for SMEs and to boost the development of the tourism sector. Meanwhile, a July 2022 tripartite agreement between the TDF, London-headquartered hospitality company Ennismore and asset management firm Al Rahji Capital set up a SR1.5bn ($400m) investment fund for the development of lifestyle hotels.

The Kingdom will have to apply a multi-directional approach in terms of sourcing tourists, addressing capability gaps and ensuring that financial risks are mitigated in a volatile context marked by environmental pressures, and international political and economic instability. Recent developments indicate that the Kingdom’s government and corporate leadership understand the key steps required for success.

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Saudi Arabia Outbound Tourism Market, Tourist Numbers, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19- Product Image

Saudi Arabia Outbound Tourism Market, Tourist Numbers, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19

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  • Region: Saudi Arabia
  • Renub Research
  • ID: 5576810
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Saudi Arabia Outbound Tourism Industry is expected to expand at a CAGR of 15.28% from 2021 to 2027

How has covid-19 impacted the saudi arabia outbound tourism market, saudi arabia outbound tourism market and volume has been covered for 9 countries:, the countries have been analyzed with consideration of following key purpose of visit:.

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market. Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice. Primary Research The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts

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Saudi Arabia recalibrates tourism goal as 2030 target blitzed

Ambitious target of 100 million visitors achieved seven years early.

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A new report has revealed a record-breaking year for Travel & Tourism in Saudi Arabia which has officials there recalibrating the Kingdom’s next tourism goal after the destination reached its 2030 goal seven years ahead of plan.

The World Travel & Tourism Council ’s (WTTC) 2024 Economic Impact Research (EIR) shows Saudi Arabia reached its ambitious target of 100 million visitors in 2023, along the way setting new records in GDP contribution, jobs in the segment and visitor spend.

Saudi Arabia’s Travel & Tourism sector is now soaring past all previous records, testament to the country’s commitment to becoming a global tourism hot spot. Employment in the segment has risen by nearly 24% compared to the previous peak.

saudi tourism market

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Last year, the sector grew by more than 32% to contribute a record-breaking SAR 444.3 billion (AU$180 billion) to Saudi’s GDP, representing 11.5% of the entire economy. This exceeded the previous record by almost 30%. Jobs supported by the sector grew by 436,000 to reach more than 2.5 million, representing almost one in five jobs in the country.

International visitor spending surged by almost 57% to reach SAR 227.4 billion (AU$92 billion), breaking the previous record by SAR 93.6 billion (AU$38 billion).

Now, Saudi Arabia is surging toward even greater heights and has set a more ambitious aim of attracting 150 million tourists by 2030.

saudi tourism market

Julia Simpson, WTTC President & CEO said; “Saudi Arabia’s Travel & Tourism sector’s extraordinary achievements last year mark a pivotal moment in its journey towards becoming a global tourism leader.

“This success is a direct result of the Kingdom’s visionary commitment to the sector, showcasing an impressive fusion of cultural heritage and innovative tourism initiatives.”

“As the sector continues to expand, it promises to play a crucial role in the nation’s diversified economic future, while contributing significantly to global Travel & Tourism development.”

“Tourism is a key pillar of the Kingdom’s Vision 2030 economic diversification plans and we have made great strides promoting investment in the sector – with more than US$800 billion earmarked by 2030 – as well as creating new jobs and growing the contribution of tourism to GDP,” said Minister of Tourism of Saudi Arabia and Chairman of the Executive Council of UN Tourism, His Excellency Ahmed Al-Khateeb .

saudi tourism market

Travel & Tourism is forecast to continue growing at pace in 2024, while jobs will increase by more than 158,000 jobs to reach nearly 2.7 million.

International visitor spending in Saudi Arabia is projected to reach SAR 256 billion (AU$103 billion) in 2024, almost double the previous high point.

WTTC is forecasting that the Middle Eastern Travel & Tourism sector will continue to grow throughout 2024 with the GDP contribution set to reach US$507 billion.

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Tourism businesses on the up in Medina

The Holy Mosque in Medina, Saudi Arabia. Pilgrims flock to the city as part of Hajj

  • Report on Saudi holy city
  • Tourism to contribute 10% of GDP
  • Part of Vision 2030

The number of tourism businesses in Medina was 15 percent higher in the first quarter of 2024 than the same time last year, a boon for Saudi Arabia as it aims to increase the industry’s contribution to the national economy.

Madinah Chamber did not supply a breakdown of the figures, but the state-owned Saudi Press Agency (SPA) said the increase included more accommodation, travel agencies and trip organisers.

Tourism accounts for 2.6 percent of all economic activity in Medina, SPA reported. Saudi Arabia has set a target for tourism to represent 10 percent of total GDP by 2030 .

  • Saudi Arabia hits tourism target seven years early
  • Hajj pilgrims feel the pinch as costs rise
  • Affluent tourists around the globe on Saudi Arabia’s radar

More than 106 million tourists visited Saudi Arabia in 2023, surpassing the kingdom’s 2030 target and prompting it to set a new goal of welcoming 150 million annual visitors by the end of the decade, according to the Ministry of Tourism.

AGBI reported last week that the costs of Hajj are getting ever higher for pilgrims coming from around the world to perform the annual rites, which are a duty for every able-bodied Muslim to perform once in a lifetime. 

Saudi Arabia has revamped its pilgrimage regulations in recent years as part of its tourism strategy.

“The two holy cities of Mecca and Medina are set to be a prolific centre for more investments in the years to come,” business consultancy Astrolabs said in a recent report, citing huge spending on infrastructure to accommodate more pilgrims. 

Before the Covid-19 pandemic in 2020, the government said Hajj alone accounted for $12 billion annually, while tourism expenditure for religious purposes as a whole was over $18 billion. As the economy recovered in 2022 the figure was closer to $10 billion. 

“There is certainly scope for the revenues and numbers continuing to rise,” said James Swanston of Capital Economics in London. 

“The kingdom is leaning quite heavily on tourism to drive non-oil growth, and religious tourism will be key to that.” 

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Saudi Arabia Outbound Tourism Market was US$ 10.86 Billion in 2021 and is expected to generate US$ 25.49 Billion from international tourist arrivals in 2027

Year after year, the number of outbound tourists from the Kingdom of Saudi Arabia has increased. Many younger travellers are motivated to visit a destination on their bucket list.

Furthermore, the critical factor driving the Saudi Arabia Outbound Tourism Market Size is the purpose of the visit, such as holiday activities, visiting friends and relatives, and business. Furthermore, interest in nature-based, off-season, and sustainable travel has increased, providing new opportunities to attract travellers and bolstering the Saudi Arabian outbound tourism industry.

Saudi Arabia Outbound Tourism Industry is expected to expand at a CAGR of 15.28% from 2021 to 2027

While domestic and intra-Saudi Arabian travel is becoming more popular, the analysis focuses primarily on Saudi Arabians traveling long-haul to South Africa, India, the United States, the United Kingdom, Singapore, Malaysia, Switzerland, Turkey, and the United Arab Emirates.

The United Arab Emirates is the top source market for outbound tourism in Saudi Arabia, followed by Switzerland and Turkey. Furthermore, many Saudi travellers are willing to travel to new areas outside the Middle East, creating significant commercial prospects.

How has COVID-19 Impacted the Saudi Arabia Outbound Tourism Market

2020 has turned out to be a catastrophic year for Saudi Arabia's outbound tourism due to the spread of the COVID-19 virus. When the first infection was discovered in Saudi Arabia in January 2020, it had a significant impact. Saudi Arabia resorted to total lockdowns in response. This had a devastating effect on the outbound tourism market, with numbers plummeting.

The number of flights departing Saudi Arabia reached an all-time low in April and May 2020. While the number of trips increased slightly in the summer and autumn of 2020, travellers were still severely limited. This was anticipated to change in 2021.

However, in Saudi Arabia, the tourism industry has recovered following an increase in vaccination rates and a reduction in anti-terrorist measures.

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers

4.2 Challenge

5. Saudi Arabia Outbound Tourism

6. Saudi Arabia Outbound Tourism - Share Analysis by Country

6.1 By Market

6.2 By Volume

7. South Africa

7.1 Saudi Arabia outbound tourist visitors

7.2 By Purpose - Saudi Arabia Outbound Tourists Visit to South Africa

7.2.1 Holiday

7.2.2 Business

7.2.3 Study

7.3 Saudi Arabia Outbound Tourists Market

8.1 Saudi Arabia outbound tourist visitors

8.2 By Purpose - Saudi Arabia Outbound Tourists Visit to India

8.2.1 Holiday

8.2.2 Business

8.2.3 Others

8.3 Saudi Arabia Outbound Tourists Market

9. United States

9.1 Saudi Arabia outbound tourist visitors

9.2 By Purpose - Saudi Arabia Outbound Tourists Visit to United States

9.2.1 Holiday

9.2.2 Business

9.2.4 Study

9.2.5 Others

9.3 Saudi Arabia Outbound Tourists Market

10. United Kingdom

10.1 Saudi Arabia outbound tourist visitors

10.2 By Purpose - Saudi Arabia Outbound Tourists Visit to United Kingdom

10.2.1 Holiday

10.2.2 Business

10.2.4 Study

10.2.5 Others

10.3 Saudi Arabia Outbound Tourists Market

11. Singapore

11.1 Saudi Arabia outbound tourist visitors

11.2 By Purpose - Saudi Arabia Outbound Tourists Visit to Singapore

11.2.1 Holiday

11.2.3 Others

11.3 Saudi Arabia Outbound Tourists Market

12. Malaysia

12.1 Saudi Arabia outbound tourist visitors

12.2 By Purpose - Saudi Arabia Outbound Tourists Visit to Malaysia

12.2.1 Holiday

12.2.3 Business

12.2.4 Others

12.3 Saudi Arabia Outbound Tourists Market

13. Switzerland

13.1 Saudi Arabia outbound tourist visitors

13.2 By Purpose - Saudi Arabia Outbound Tourists Visit to Switzerland

13.2.1 Holiday

13.2.3 Others

13.3 Saudi Arabia Outbound Tourists Market

14.1 Saudi Arabia outbound tourist visitors

14.2 By Purpose - Saudi Arabia Outbound Tourists Visit to Turkey

14.2.1 Holiday

14.2.3 Others

14.3 Saudi Arabia Outbound Tourists Market

15.1 Saudi Arabia outbound tourist visitors

15.2 By Purpose - Saudi Arabia Outbound Tourists Visit to UAE

15.2.1 Holiday

15.2.3 Others

15.3 Saudi Arabia Outbound Tourists Market

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saudi tourism market

saudi tourism market

Vision 2030: Pioneering progress and transformation in Saudi Arabia

By Prof. Awad Al Omari

The Vision 2030 roadmap in Saudi Arabia has made significant strides in various sectors, showing positive progress toward its ambitious goals. Here are some noteworthy achievements so far:

1. Economic Growth and Diversification

The non-oil private sector has experienced impressive growth, with non-oil revenues more than doubling from SR163 billion in 2016 to SR411 billion in 2022. The financial market has also expanded significantly, ranking fifth globally in the Financial Markets Index. The increase in financial technology entities and market listings reflects growing investor confidence.

2. Tourism and Cultural Heritage

Saudi Arabia has achieved remarkable success in tourism, welcoming 106 million visitors in 2023, including 27.4 million international tourists. This has positioned the country as a rapidly growing international tourism destination. Additionally, the number of Umrah pilgrims exceeded expectations, reaching 13.56 million in 2023.

3. Female Workforce Participation and Home Ownership

Female participation in the workforce has surpassed the Vision 2030 target, reaching 36% in the first quarter of 2023. Homeownership among Saudi citizens has also significantly increased from 47% to 67%, bringing the country closer to the goal of 70% by 2030.

4. Public Investment and Infrastructure

The Public Investment Fund's assets have grown substantially, and the country has made significant progress in infrastructure development. Notably, Saudi Arabia will host the 2030 World Expo in Riyadh, and initiatives such as the construction of luxury coastal resorts and the establishment of a National Semiconductor Hub demonstrate ongoing investment in future-ready infrastructure and industries.

5. Healthcare and Social Services

Life expectancy has increased, and healthcare coverage in rural areas has exceeded targets. There have been significant improvements in social services, including housing and volunteer participation, enhancing the quality of life for citizens.

Overall, while there are areas that still require attention and further development, the mid-point review of Vision 2030 showcases substantial progress and overachievement in several key areas, setting the stage for continued success toward the 2030 goals.

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Saudi Arabia Design and Construction Neom Project Opportunities

Announced in 2017, NEOM is the largest master planned project in the region, and possibly the world, with an estimated value of $1.5 trillion. It is a crucial component of Saudi Arabia’s Vision 2030 economic diversification plan, aimed at building a diversified economy with robust non-petroleum sectors.

The massive project will span several regions, including:  The Line: A megacity housed in a linear structure designed to accommodate 9 million people, stretching 105 miles, and composed of 135 modules, with a transit system capable of transporting people from one end to the other in 20 minutes. Oxagon : A floating industrial complex that will serve as a fully automated port and logistics hub for shipping routes through the Red Sea. Trojena : A sustainable mountain tourism destination with six districts, including a man-made lake, ski resort, and luxury village. Sindalah : A high-end island destination connected to Mediterranean sailing routes, featuring a marina, village, hotels, and a golf course. Gulf of Aqaba : A 74-miles-long coastal strip that includes Neom Bay, Neom Bay Airport, and Neom Industrial City, as well as a range of planned luxury hotels and cultural assets.

All of Neom’s planned developments will be powered by 100% renewable energy for a zero-emission ecosystem, with 95% of Neom’s total area set aside for conservation. The development will prioritize convenience and walkability, with a pedestrian-centric approach, with all amenities within a five-minute walk.

Saudi Arabia aims to position Neom as a hub for business, research and innovation. The project will span 14 sectors, which include: Design & Construction, Education, Research & Innovation, Financial Services, Entertainment & Culture, Manufacturing, Food, Media, Technology & Digital, Health, Well-being & Biotech, Mobility, Sport, Water and Tourism.

Significant opportunities exist for U.S. companies within these sectors. Those interested in becoming Neom suppliers must register in Neom Procurement Portal: Registration to Become Neom Supplier

U.S. Foreign Commercial Service in Saudi Arabia will organize an infrastructure working group to showcase U.S. companies in related sectors and facilitate connections to this and other opportunities in Saudi Arabia.

For more information, please contact Anwar Shaqhan, Senior Commercial Specialist at [email protected]  

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Number of non-resident Umrah pilgrims Saudi Arabia 2023

As of 2023, there were four million non-resident Umrah pilgrims who visited the holy city of Makkah in Saudi Arabia. This was a 50 percent drop from its baseline of eight million non-resident visitors. A significant impact was seen during the COVID-19 pandemic in late 2019 and 2020 when strict health restrictions resulted in a drop of over seven million pilgrims. However, since then, the number has been steadily growing, and the Kingdom aims to have 30 million non-resident Umrah pilgrims by 2030. The Umrah is a form of voluntary pilgrimage that Muslims can make throughout the year to the city of Makkah in Saudi Arabia, it is often considered as a minor-Hajj.

Number of non-resident Umrah pilgrims in Saudi Arabia as of 2023 (in millions)

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November 2023

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Statistics on " Tourism industry in Vietnam "

  • Travel and tourism's direct contribution to employment APAC 2022, by country
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  • Revenue per user of travel & tourism in Vietnam 2019-2028
  • GMV of online travel sector in Vietnam 2019-2025
  • Number of ITAs in Vietnam 2023, by means of transport
  • Number of domestic tourist arrivals in Vietnam 2010-2023
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  • Number of 5-star tourist accommodations in Vietnam 2018-2023
  • Number of 4-star tourist accommodations in Vietnam 2018-2023
  • Number of rooms in tourist accommodations in Vietnam 2019-2023
  • Number of rooms in 4-star tourist accommodations in Vietnam 2018-2023
  • Number of rooms in 5-star tourist accommodations in Vietnam 2018-2023
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  • Online travel agency usage Vietnam 2023, by age group
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Key indicators

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  • Premium Statistic Number of ITAs in Vietnam 2023, by means of transport
  • Premium Statistic Number of international tourist arrivals (ITA) in Vietnam 2023, by country
  • Premium Statistic Number of domestic tourist arrivals in Vietnam 2010-2023
  • Premium Statistic Number of Vietnamese traveling abroad 2010-2022

Accommodations

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  • Premium Statistic Number of rooms in 4-star tourist accommodations in Vietnam 2018-2023
  • Premium Statistic Number of rooms in 5-star tourist accommodations in Vietnam 2018-2023
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Online travel

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    Online revenue share of the travel & tourism market in Vietnam 2019-2028 Online travel agency usage Vietnam 2023, by age group Most used online travel agencies Vietnam 2023