Saudi Arabia's travel account surplus reached nearly SAR50 bn in 2024

ANI April 4, 2025 248 views

Saudi Arabia's tourism sector has demonstrated exceptional financial performance in 2024, registering a significant surplus of SAR 49.8 billion. The remarkable growth reflects a 13.8% increase in visitor spending, highlighting the sector's robust development strategies. These achievements are closely aligned with the ambitious Vision 2030 economic transformation plan. The Tourism Ministry credits collaborative efforts and enhanced service quality for driving this impressive economic milestone.

"This success reflects effective implementation of best practices in tourism development" - Saudi Tourism Ministry
Riyadh, April 4: Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR 49.8 billion, a 7.8% increase over 2023, according to a Tourism Ministry press release.

Key Points

1

Saudi tourism revenue reaches SAR 153.6 billion in 2024

2

Inbound visitor spending increases by 13.8%

3

Travel account surplus grows 7.8% year-on-year

4

Strategic alignment with Vision 2030 goals

The release, carried bythe Saudi Press Agency (SPA), said that this surge was fueled by a 13.8% increase in inbound visitor spending compared to 2023, reaching an estimated SAR 153.6 billion in 2024, based on preliminary balance of payments data from the Saudi Central Bank.

The ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem, aimed at strengthening the industry and its contribution to national economic growth.

"This success also reflects the effective implementation of best practices in tourism development, enhanced services and products, and strong government collaboration, all advancing the goals of Saudi Vision 2030," said the release. (ANI/WAM)

Reader Comments

A
Ahmed K.
Amazing news for our country! The tourism sector is really booming since Vision 2030 was announced. I've noticed so many new hotels and attractions opening up. 🇸🇦
S
Sarah M.
While the numbers are impressive, I hope this growth is sustainable and benefits all regions equally. Some areas still need better tourism infrastructure.
K
Khalid R.
Just returned from AlUla and the experience was world-class! No wonder tourists are spending more. The hospitality sector has improved dramatically.
L
Layla H.
These numbers show Vision 2030 is working! But we need to make sure local businesses benefit too, not just international chains. More support for Saudi entrepreneurs in tourism please!
M
Mohammed A.
The e-visa system has made it so much easier for visitors. I have friends from Europe who came last month and they were amazed by how smooth everything was. Great job!

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Saudi Arabia Tourism Vision 2030 Travel Economy Saudi Central Bank Tourism Ministry
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