Loyal Lovin readers can support Lovin so we can continue to share the stories of all amazing cities
Minimum custom amount to enter is AED 2
By donating, you agree to the Privacy Policy and Terms of Service
Saudi Surpasses Vision 2030 Goal By Attracting 100 Million Tourists 7 Years Early!
The International Monetary Fund (IMF) has highlighted Saudi Arabia’s booming tourism sector as a major force behind the country’s economic diversification
According to the 2024 Article IV Consultation report, Saudi Arabia exceeded its Vision 2030 goal of attracting 100 million visitors annually by 2023 — a full seven years ahead of schedule.
Tourism revenues reached $36 billion in 2023, contributing 11.5% to the country’s GDP, with expectations to grow to 16% by 2034
This growth has been driven by a combination of strong local interest and a boost in international tourism. Events like Formula One, the 2027 Asian Cup, and the 2030 World Expo have helped position Saudi Arabia as a new hotspot for cultural and leisure activities.
The report also noted a shift in Saudi Arabia’s economy
Recommended
Qassim Captivated By Breathtaking Hailstorm As Videos Circulate Online
King Salman Calls On The Nation To Unite In Prayer For Rainfall This Thursday
Formerly Conjoined Filipino Twins Return To Riyadh 20 Years After Life-Changing SurgeryWith the country now earning more from inbound tourism than it spends on outbound tourism. This positive change started in 2022 and continued in 2023, thanks to increased earnings from transport and service exports.
The IMF also found that while Saudi nationals are spending less on international travel, expatriates living in the Kingdom are spending more on local leisure activities. This shift is strengthening various sectors like food, culture, and travel, helping reduce Saudi Arabia’s reliance on oil.
Newsletter