Inbound tourism spending in Saudi Arabia increased to a record SR153.61 billion ($40.95bn) in 2024 as the kingdom invests in its travel and entertainment offering.
From Qiddiya to Neom, Saudi Arabia is creating a host of giga-projects and attractions as part the Public Investment Fund’s (PIF) Vision 2030.
This aims to diversify the economy and reduce the kingdom’s reliance on oil.
Arab News reports that inbound tourism spending increased by 13.82 percent compared to the prior year, according to data from the Saudi Central Bank.
Additionally, the growth put the kingdom’s travel balance surplus at its highest annual level to date – SR49.78bn ($13.26bn), a 7.81 percent increase on the previous…
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