Saudi tourism sector worth over $70 billion in 2019
TravelBizNews —
Saudi Arabia’s travel and tourism sector is expected to contribute $70.9 billion (SAR 263.1 billion) in total to the country’s GDP in 2019, according to data from the World Travel and Tourism Council, as exhibitors prepare to showcase what the Kingdom has to offer at this year’s Arabian Travel Market.
Arabian Travel Market (ATM) will be held at the Dubai World Trade Centre from 28 April – 1 May 2019.
According to data from ATM’s research partner Colliers, international arrivals to Saudi Arabia are expected to increase 5.6 per cent per year from 17.7 million in 2018 to 23.3 million in 2023.
Religious tourism is expected to remain the bedrock of the sector over the next decade, with a goal of attracting 30 million pilgrims to the Kingdom by 2030, an increase of 11 million from the 19 million Hajj and Umrah pilgrims that visited the country in 2017.
Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: “At ATM, we are witnessing this growth first hand with the total number of delegates arriving from Saudi Arabia increasing 42% between 2017 and 2018, while 33% of delegates, exhibitors and attendees were interested in doing business with the Kingdom.
“More relaxed access to visas, through online portals such as the ‘Sharek’ and the growth of the Umrah plus market – combining religious and leisure travel – are expected to be key drivers in the growth of international tourism in the Kingdom.”
Vision 2030 has set aside $64 billion to invest in culture, leisure and entertainment projects over the next decade, which will significantly add to the attractiveness of the country as a touristic destination, according to a recent report from real estate firm Savills.
The first phase of the Red Sea project, which is estimated to grow the kingdom’s GDP by US$5.86 billion (SAR22 billion) and will consist of an airport, marinas, up to 3,000 hotel rooms and various recreational activities, is expected to complete during 2022.
The upbeat tourism forecast is also being driven, by domestic tourism with the number of local tourist trips inside Saudi Arabia exceeding 47 million in 2018. The latest research from Colliers forecasts this figure to increase 8 per cent per year to 70.5 million by 2023.
Source: Arabian Travel Market / Shamal Communications
April 11 , 2019
