Exciting news for domestic and international investors!
Get your coffee ready ☕, let your imagination take flight, and embark on a journey through this mesmerizing destination's remarkable growth and achievements. So sit back, relax, and enjoy the bullet points ahead!
1. The tourism industry in the Kingdom is witnessing tremendous growth! The latest data from the Saudi Central Bank (SAMA) reveals some astonishing figures in its recent monthly statistical bulletin that will catch your attention!
2. In Q2 2023, tourist spending skyrocketed by a remarkable 25.6%, reaching an impressive SAR 38 billion (USD 10 billion). That's an increase of SAR 9.5 billion (USD 2.5 billion) compared to the previous quarter! Talk about a booming industry!
3. But the good news doesn't stop there! Year-on-year growth in tourist spending during Q2 2023 was a jaw-dropping 121%, which translated to an incredible SAR 25.5 billion (USD 6.8 billion) increase compared to the same period in 2022. It's safe to say that Saudi Arabia is becoming the go-to destination for international travelers!
4. With a historic expenditure of SAR 47 billion (USD 12.5 billion) by foreign tourists in Q2 2023 alone, it's evident that the Kingdom has successfully captivated the world's attention and emerged as a premier tourist hotspot.
5. And the growth story continues! In H1 2023, tourist spending saw a staggering year-on-year increase of approximately 130% - a total boost of SAR 47 billion (USD 13 billion)! The Kingdom is here to stay as a top-notch vacation spot!
6. Let's remember the impressive surplus in the travel balance of payments, totaling SAR 23 billion (USD 10 billion) in Q2 2023 alone! Saudi's ability to attract visitors and contribute to the local economy is remarkable! Saudi Arabia is on everyone's travel radar!
7. The Kingdom ranked 13th globally, advancing by 12 places on the World Tourism Organization (WTO) index, as one of the top countries receiving international tourists in 2022, compared to 25th place in 2019.
8. The number of international tourists who visited the Kingdom for all travel purposes hit 16.6 million in 2022, according to the World Tourism Barometer report for May 2023 issued by the WTO.
Finally, it's an exciting time for the Kingdom as its Vision 2030 initiative takes flight, aiming to diversify the economy and unlock the full potential of the tourism sector.
Thank you for your time, and have a wonderful day!
Cheers
#SaudiArabia #TourismBoom #InvestmentOpportunities #Vision2030 #TravelandTourism #SaudiTourism #EconomicGrowth
This year’s #WorldTourismDay is being held in Riyadh.
This is a testament to Saudi Arabia’s strides in building the new face of tourism under #SaudiVision2030 and #PIF’s contribution through investing in people, planet and prosperity.
تستضيف المملكة هذا العام #يوم_السياحة_العالمي في عاصمتها الرياض.
وهذا يؤكد الدور الريادي للمملكة في تعزيز القطاع السياحي العالمي تماشيًا مع أهداف #رؤية_السعودية_2030. كما يساهم #صندوق_الاستثمارات_العامة من خلال استثماراته في بناء مستقبل مستدام للقطاع السياحي.
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