Saudi Arabia Posts SAR49.8 Billion Tourism Surplus in 2024, Driven by Higher Visitor Spending

Riyadh, April 4 (Saudi Arabia Breaking News) – Saudi Arabia recorded a travel account surplus of SAR49.8 billion ($13.3 billion) in 2024, marking a 7.8% increase over the previous year, the Ministry of Tourism said in a statement on Thursday, citing preliminary data from the Saudi Central Bank.

According to the ministry, the growth was primarily driven by a 13.8% rise in inbound visitor spending, which reached an estimated SAR153.6 billion in 2024.

The figures, carried by state news agency SPA, reflect the Kingdom’s continued efforts to expand its tourism sector as part of the broader economic diversification strategy under Saudi Vision 2030.

The ministry attributed the record surplus to “effective implementation of best practices in tourism development, enhanced services and products, and close coordination across government entities and the private sector.”

Saudi Arabia has been seeking to increase tourism’s contribution to GDP by promoting investment, easing visa regulations, and developing cultural and heritage sites to attract international visitors. The ministry said it remains committed to strengthening the sector’s economic impact and long-term sustainability.