Saudi Arabia sets foreign tourism income record in 2024

• Tourism drew $41bn in 2024
• $13bn travel surplus
• Main Vision 2030 goal

Spending by people visiting Saudi Arabia last year hit a record high, bringing the kingdom closer to its Vision 2030 tourism targets.

Inbound tourists spent SAR154 billion ($41 billion) last year, a 14 percent increase from 2023, which was also a record year.

It also meant a record SAR50 billion ($13 billion) travel surplus, after subtracting what Saudis spent abroad that same year.

The kingdom is trying to market itself as a destination for upmarket tourism as well as trying to increase the number of religious pilgrims from 18.5 million last year to 30 million by 2030.

Saudi Arabia has conducted recent promotion campaigns abroad and introduced measures to simplify online visa applications.

According to Vision 2030, Saudi Arabia is targeting 150 million tourists, both foreign and domestic, within the next five years, having surpassed its original goal of 100 million in 2023.

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Last year a record 30 million people visited Saudi Arabia from abroad, although this is still less than half the 70 million targeted for 2030.

The World Travel and Tourism Council previously predicted that the size of the Saudi tourism market would reach half a trillion dollars in 2024.

It also predicted the market will grow to SAR836 billion ($223 billion) by 2034, accounting for nearly 16 percent of GDP.

Saudi Arabia is adding around 53,000 hotel room keys a year as part of an $800 billion investment drive into its tourism industry.

It is scheduled to host the 2029 Asian Winter Games, 2030 Riyadh Expo, and the 2034 World Cup just five years apart.