Tuesday, September 5, 2023
The revenue generation from tourism in Saudi Arabia in the first quarter of 2023 has more than tripled to 37 billion Saudi riyals as the kingdom is interested to draw greater number of international visitors and expand its economy that was oil-based primarily.
Incoming tourism revenue increased to 225 per cent compared to the first quarter of last year as visitor numbers raised, state managed Saudi Press Agency said this.
In the first three months of 2023, the kingdom welcomed almost 7.8 million tourists at the time of its highest quarterly performance, which marked a rise of 64 per cent compared to the same time before pandemic.
The upsurge in revenue helped the kingdom to post an extra in the payment balance for tourism in the first quarter. This amounted to 22.8 billion riyals, compared to a shortfall of 1.6 billion riyals during the same time 2022, the SPA said.
This follows the efforts of the Ministry of Tourism to improve the tourism sector and its influence behind the growth of the country’s economy, which agrees to the aim of the National Tourism Development Strategy, the agency said.
The tourism strategy of the kingdom has set its target which includes drawing 100 million new visitors.
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