Saudi Arabia’s tourism sector achieved a record surplus in the 2024 travel account, reaching SR49.8bn ($13.3bn), a 7.8 per cent increase over 2023, according to the Tourism Ministry.
The Ministry said the surge was fuelled by a 13.8 per cent increase in inbound visitor spending compared to 2023, reaching an estimated SR153.6bn ($43.8bn) 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.
It said: “This success also reflects the effective…
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