Saudi Arabia's Tourism Market Size Witness Rapid Escalation

Riyadh, Saudi Arabia: The Kingdom of Saudi Arabia is on the highway to become global tourism hub. The country’s tourism market is expected to reach $110.1 billion by the year 2033. Pumped-up by Vision 2030 investments in hospitality, entertainment, and infrastructure, the Kingdom make itself a sparkling spot among other major Middle Eastern tourism destinations.

According to Dimension Market Research (DMR), Saudi Arabia’s market size in 2024 is $53.2 billion, and is expected to reach $110.1 billion in 2033. It is expected to register a CAGR (Compound Annual Growth Rate) of 8.4 percent from 2024-2033.

Ranging from religious and cultural activities to leisure and adventurous travel, there are several factors which clicked right for this gulf nation’s tourism market. Determined to fly beyond its oil reserves, Saudi zeroes in on diversifying its economy. Home to Islamic pilgrim sites Mecca and Median has also played key role in holding up the country as a point of attraction.

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The cultural and opulent tourism experiences has placed Saudi as a quick-getaway destination, especially among the neighbouring countries. Seasonal festivals like Riyadh Season, and Jeddah Season garnered international attention. The availability of better e-visa systems and digital platforms quickened travel planning and gifted improved visitor experiences.

Marriott International, Accor, Hyatt Hotels Corporation, Attar Travel, Almosafe, Six Senses, Riyadh Air are some of the key players in taking up tourism market to higher notches.

The Vision 2030 investments played huge part in scaling up the market. Luxury resorts, exotic heritage sites packed with unique cultural and religious experience also made Saudi Arabia a major tourism site.

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Well, this is not all. Saudi appears to have high potential to be a leading tourism market out there. Higher capacity for pilgrims in the Mecca and Medina play catalyst to the lucrative segment of the country. Promising world-class experience are projects like NEOM, Al-Ula, and the Red Sea Project.

Saudi managed to capture interests from Asian and European hodophiles. And the enticing deserts, mountains, and coastlines beauties are also a thumping reason for pulling tourists to this gulf nation.