Saudi Arabia experienced a historic spending of $26.7B by international tourists within the Kingdom during the initial nine months of the previous year, as per government statistics.
The Ministry of Tourism disclosed this record-breaking expenditure by foreign visitors, relying on data sourced from the Saudi Central Bank (SAMA).
The cumulative spending throughout the first three quarters of 2023 exceeded SR 100B ($26.7B).
By the conclusion of Q3 2023, the surplus in the travel item within the balance of payments stood at approximately SR 37.8B ($10.3B), signifying a 72% growth rate compared to the surplus recorded in the same period in 2022.
The Kingdom’s tourism sector has undergone a complete recovery, exhibiting an impressive 150% surge compared to pre-Covid-19 levels.
This resurgence has been evident across various tourist destinations, attracting a rising number of both domestic and international visitors, according to Arabian Business.
Reports from the World Tourism Organization highlight that Saudi Arabia emerged as a leader among G20 nations regarding the growth of incoming tourists during the first three quarters of 2023.
Furthermore, the Kingdom has secured the second position among the world’s fastest-growing tourist destinations.
