Saudi Arabia’s Ministry of Tourism revealed a 99% rise in tourism hospitality licenses by Q3 2024, compared to 2023. The number of licenses jumped from 2,000 last year to 3,950, marking an impressive achievement in the sector’s expansion.
This growth significantly increased hospitality rooms, which rose by 107% year-on-year, reaching over 443,000 by the quarter’s end. The previous year’s figure was around 214,000, showcasing the industry’s rapid progress.
Visitor Spending and Economic Surplus
Visitor spending in Saudi Arabia climbed by 8.2% in the first half of 2024, reaching SAR 92.6 billion. Additionally, the nation recorded a SAR 41.6 billion surplus in its travel account, underlining its thriving tourism economy.
The UN Tourism Barometer ranked Saudi Arabia 12th globally for international tourist arrivals in 2023. The country experienced a 73% rise in tourist arrivals and a 207% jump in international tourism receipts in 2024.
Saudi Arabia welcomed over 100 million tourists in 2023, a goal initially set for 2030 under the Vision 2030 plan. Now, the Kingdom aims for 150 million annual visitors by 2030, raising the bar for its tourism ambitions.
Mega Projects and Campaigns Drive Growth
Mega projects like NEOM and The Line are central to Saudi Arabia’s tourism strategy. Despite challenges, Neom has started hosting guests at its luxury Red Sea resort.
Riyadh Air, launched in March 2023, seeks to triple air traffic to 330 million passengers annually by 2030, boosting Saudi Arabia’s travel infrastructure.
Tourism campaigns featuring global icons Lionel Messi and Cristiano Ronaldo aim to enhance the Kingdom’s global appeal.
