Saudi Gazette report
RIYADH — Saudi Arabia’s tourism Minister Ahmed Al-Khateeb announced a significant increase in the country’s tourism sector during a panel discussion titled “Vacationomics” at the special meeting of the World Economic Forum (WEF) in Riyadh.
Al-Khateeb highlighted the substantial growth in tourist numbers, which have risen by 10% in the first quarter of 2024, with spending by tourists increasing by more than 17%.
In his remarks, Al-Khateeb outlined the Kingdom’s achievements over the past five years, doubling its tourism revenue from $34 billion to $66 billion last year.
He emphasized the target of reaching $80 billion in revenue from tourism for the current year.
He stressed the importance of the tourism sector as a resilient and fundamental part of the economy, essential for diversifying away from oil dependency.
Al-Khateeb also discussed significant investments in the sector, aiming to engage more young people and resources, ensuring that Saudis are…