Travel & Tourism contributed 9% of the economy of the Kingdom of Saudi Arabia (KSA) in 2018, according to the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today.
In 2018, Travel & Tourism contributed SAR244.6BN (US$65.2BN) to the country’s economy. The sector now represents 9% of the Saudi Arabia’s total economy; this means that one in every eleven Saudi Riyals is now generated by Travel & Tourism.
The research by WTTC, which represents the private sector of global Travel & Tourism, compares the sector across 185 countries, and shows that in 2018 the Saudi Travel & Tourism sector:
Commenting on the numbers, Gloria Guevara, WTTC President & CEO said: “Travel & Tourism contributes strongly to the economy of Saudi Arabia and has long been recognised as a driver of economic growth, job creation and the development of remote rural areas.”
“We commend wholeheartedly the role of Travel & Tourism as a central pillar of the Kingdom’s Vision 2030 strategy under the leadership of HRH Prince Sultan bin Salman bin Abdulaziz Al-Saud. The Kingdom has seen tourism increase by more than 60 per cent under Prince Sultan’s leadership and we acknowledge his efforts to highlight the Kingdom’s cultural heritage as an important attraction for tourism.”