RIYADH — Saudi Arabia has reported a 156% increase in international arrivals in 2023 compared to 2019, as revealed in the World Tourism Organization's (UNWTO) Barometer report. This leap not only signifies a full recovery from pre-pandemic levels but also cements the Kingdom's position as a pivotal player in revitalizing tourism in the Middle East, a region that saw a 22% overall increase in 2023. The global tourism sector, while still 12% below pre-pandemic levels, showed signs of recovery with around 1.3 billion international arrivals in 2023. International tourism revenues approached $1.3 trillion, nearing 93% of the 2019 figure. Tourism's direct contribution to global GDP was about 3%, equating to $3.3 trillion. The UNWTO anticipates a complete global tourism recovery by 2024, projecting a 2% growth over 2019 levels. Saudi Arabia's tourism sector particularly stands out, leading the G20 in international arrivals growth and ranking as the second fastest-growing tourist destination globally in the first three quarters of 2023. The Kingdom has experienced a surge in various tourist destinations, with international visitor spending surpassing SR100 billion, as per the Saudi Central Bank (SAMA). The travel balance of payments showed a 72% increase from 2022, reflecting a surplus of 37.8 billion Saudi riyals by Q3 of 2023. These achievements highlight Saudi Arabia's growing recognition as a unique global tourist destination, bolstered by increasing traveler confidence in its diverse attractions. In 2024, the Ministry of Tourism aims to sustain this growth, spotlighting destinations like AlUla, Diriyah, Yanbu, and Abha, and hosting major events such as the Saudi Arabian Grand Prix, Diriyah E-Prix, and various cultural festivals. These initiatives are part of a strategic approach to boost global tourism appeal and present significant opportunities for international investors in the sector.
