Balance of payments of Saudi exceed $10bn

Saturday, October 7, 2023

The balance of payments of Saudi Arabia for tourism in the first half of 2023, has increased almost 327 percent to SR40 billion compared to 2022, the data released by the Saudi Central Bank showed the same.

In the Kingdom, the expenditures of the international tourists amounted to SR83.7 billion, a considerable rise from SR36.4 billion recorded in the matching period the year before.

For tourism, in the second quarter, the balance of payments marked a 34 percent increase to SR22.8 billion compared to the same time 2022, with overseas tourists spending SR46.6 billion in the same time.

This increase comes in the middle of the rise of Saudi Arabia to the second position internationally in regard to the rate of growth of incoming tourists in the first seven months of this year, as declared on Tuesday by the Ministry of Tourism.

The Kingdom, as per the Ministry of Tourism, witnessed a 58 percent advancement in tourist numbers rising to the end of July compared to the same time 2019.

Last month, the information was sourced from the UN World Tourism Organization and came from the UNWTO World Tourism Barometer.

Also, Riyadh on Sept. 27-28, organized World Tourism Day showing the Kingdom’s commitment to tourism.

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