Saudi Arabia has achieved new historic records in the tourism sector for the year 2024. It recorded a surplus in the travel account of the balance of payments, estimated at approximately 49.8 billion riyals, reflecting a growth of about 7.8% compared to 2023.
This growth was driven by an increase in spending by inbound visitors to the Kingdom, which rose by approximately 13.8% compared to 2023. The total spending of inbound visitors in 2024 reached around 153.6 billion riyals, according to preliminary data from the travel account in the balance of payments issued by the Saudi Central Bank.
The Ministry of Tourism clarified that the significant growth in the travel surplus within the balance of payments during 2024 is a result of the efforts made by the ministry and other components of Saudi Arabia’s tourism ecosystem to enhance the tourism sector and its contribution to the growth of the national economy.
This growth also underscores the effectiveness of the efforts undertaken by the tourism ecosystem to position the sector as a global leader by implementing best practices in tourism development, improving tourism services and products, and maintaining continuous collaboration with all government entities to support the development of the tourism sector in the Kingdom and achieve the goals of Saudi Vision 2030.
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