Saudi Arabia's Tourism Minister Announces 10% Tourist Number Increase and $80 Billion Revenue Goal at WEF
Saudi Arabia's Tourism Minister, Ahmed Al-Khateeb, reported a 10% rise in tourist numbers and over 17% increase in spending during the first quarter of 2024 at the WEF in Riyadh.
The Kingdom's tourism revenue has doubled from $34 billion in 2019 to $66 billion in 2023, and the goal is to reach $80 billion in revenue this year.
The text highlights the significance of the tourism sector in the Saudi Arabian economy, which is seen as a resilient and vital part of the country's economic diversification efforts, moving away from oil dependency.
Al-Khateeb emphasized the need for substantial investments in the sector to involve more young people and resources, with a focus on Saudis taking the lead in serving and experiencing the growth.
The text also mentions the Kingdom's initiatives to open up its tourism offerings to the world and showcase its treasures on a global scale.