Saudi Arabia’s Ministry of Tourism unveiled that Riyadh’s 5-star hotels has achieved a 97% occupancy rate during the recent mid-year school break.
According to the Saudi Press Agency (SPA), the total occupancy of hotel and apartment in Riyadh exceeded 91%.
The Ministry explained that the reason behind this noticeable surge lies in the fact that the Kingdom is currently witnessing several winter events such as Riyadh Season 2024 and other international conferences.
Currently, the Ministry is intensifying its efforts to maximize the number of hotels and apartments to welcome several local and international visitors.
Moreover, the authorities are facilitating the process of obtaining licenses for hospitality facilities.
Unprecedented Growth
Saudi Arabia achieved the highest growth in international tourism among G20 countries in the first seven months of 2024.
According to recent data from the United Nations Tourism Organization, the Kingdom secured a noticeable increase of 73% in international tourist arrivals.
The September 2024 World Tourism Barometer also indicates that tourism revenues witnessed an impressive 207% surge compared to the same period in 2019.
The Kingdom welcomed approximately 17.5 million international tourists during the first 7 months of 2024.
In 2023, the Kingdom recorded a 56% increase by attracting 27.4 million visitors compared to 2019. Thus, it became the leading country in tourism growth among major destinations according to the UN.
Moreover, the travel sector witnessed a historic surplus of SAR 48 billion in 2023, representing a 38% year-on-year growth.
The International Monetary Fund described 2023 as a milestone in Saudi Arabia’s thriving tourism sector as the total number of annual visitors exceeded the Vision 2030 target of 100 million.
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