Saudi Tourism surplus reaches record SAR 50 Billion in 2024
Saudi Arabia's tourism sector achieved a record SAR 49.8 billion surplus in 2024, marking a 7.8% increase from 2023. The surge, driven by a 13.8% rise in inbound visitor spending, highlights the success of collaborative efforts and strategic initiatives under Saudi Vision 2030.
Riyadh [Saudi Arabia], April 4 (ANI/WAM): According to a press release from the Tourism Ministry, Saudi Arabia's tourism industry recorded a historic surplus in the 2024 travel account, amounting to SAR 49.8 billion, which is a 7.8% rise compared to 2023.
The release, carried by the Saudi Press Agency (SPA), said that this surge was fueled by a 13.8% increase in inbound visitor spending compared to 2023, reaching an estimated SAR 153.6 billion in 2024, based on preliminary balance of payments data from the Saudi Central Bank.
The ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem, aimed at strengthening the industry and its contribution to national economic growth. "This success also reflects the effective implementation of best practices in tourism development, enhanced services and products, and strong government collaboration, all advancing the goals of Saudi Vision 2030," said the release. (ANI/WAM)