Spending by Visitors to Saudi Arabia Hits Record in 9 Months of 2023

Spending by visitors to the Kingdom in the first three-quarters of last year rose to a record high of SR102.6 billion (US$27.36 billion), according to data from the Saudi Central Bank. The figure represents a 53% increase on tourist spending in the equivalent period of 2022, the Ministry of Tourism said in a post on X on Monday.

Outbound travelers from the Kingdom spent SR64.8 billion (US$17.28 billion) in the January to September period, creating a balance of payments surplus for the travel sector — inbound spending minus outbound spending — of SR37.8 billion (US$10.08 billion), or 72% higher than it was for the same period of 2022.

According to a report by the UN’s World Tourism Organization, Saudi Arabia achieved one of the highest growth rates for inbound tourism among the G20 group of leading and developing nations in the first three-quarters of 2023. The Kingdom’s tourism sector has rebounded well since the COVID-19 pandemic, with tourist destinations reporting increases in the number of both domestic and foreign visitors, the Saudi Press Agency reported.