Saudi Arabia Sees A Massive 225% Increase In Tourism Revenue In the Q1 Of 2023; Here’s All About It

by Anupriya Mishra
Saudi Arabia Sees A Massive 225% Increase In Tourism Revenue In the Q1 Of 2023; Here’s All About It

The Ministry of Tourism in Saudi Arabia recently revealed that the kingdom has received an impressive tourism revenue surplus of USD 6.1 billion during the first quarter of 2023. This is brilliant news, as the country has seen a momentous growth by an astounding 225%, as compared to the same quarter of 2022, which is more about this surplus in revenue.

Massive Tourism Revenue Surplus Of 225%

Saudi Arabia Cruise
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It was recently revealed by the Ministry of Tourism in Saudi Arabia that they have seen a remarkable transformation and transition in terms of tourism revenue as compared to 2022 data. Yes, there’s been a momentous shift that has been marked by phenomenal growth in the incoming tourism revenue for quarter one of 2023, when compared to the same of the previous year. There has been a surge of a whopping 225% as compared to the same period. So, basically, the tourism revenue has increased to a whopping USD9.8 billion. This data was released by the Saudi Central Bank, which has showcased the Ministry of Tourism’s unwavering commitment to revitalising the tourism sector. Not to mention, it has also shown that it plays a pivotal role in advancing the national economy.

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Saudi Arabia Also Ascends On International Tourism Revenue Index

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His Excellency, Ahmed Al Khateeb, the Minister of Tourism has showcased the significance of this accomplishment. He mentioned that since the kingdom is rapidly emerging as a key global destination for tourists, therefore, the future of tourism is being shaped here, which is sustainable and full of opportunities. Moreover, the kingdom has also achieved several notable milestones in terms of the tourism industry. Yes, recently it ascended by a whopping 16 places in the International Tourism Revenue Index by ranking at the 11th spot globally in 2022. This is a big deal, as it has been a significant leap from its prior 27th position in 2019. Moreover, the Kingdom of Saudi Arabia welcomed approximately 7.8 million tourists in the first quarter of this year.

As it happens, this year, World Tourism Day will be hosted in Riyadh on September 27 wherein there will be the participation of tourism ministers from several countries, influential figures in the travel & tourism industry, and major international hospitality companies. All these achievements showcase that there have been significant efforts made by the Ministry of Tourism to promote the tourism sector.

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