Search Site

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Saudi Arabia surpasses 2030 tourism target of 100 million visitors

Tourists enjoy at AlUla as Saudi Arabia's tourism sector experiences a significant surge. (@VisitSaudi)
  • International tourists numbered 27.4 million, a substantial 56 percent increase over 2019 and an impressive 65 percent rise compared to 2022.
  • Tourism has proved to be a significant contributor to the nation’s economy, with domestic and international tourists spending over SAR 250 billion ($66.65 billion) in 2023

Riyadh, Saudi Arabia — Saudi Arabia has received international recognition and praise from UN Tourism and the World Travel & Tourism Council for the “remarkable achievement” of receiving over 100 million tourists in 2023, the Kingdom’s Ministry of Tourism said.
This accomplishment, the ministry said, significantly surpassed the target set for 2030, positioning Saudi Arabia as “an emerging global tourism powerhouse”.
According to the ministry, the Kingdom has achieved this milestone seven years ahead of the initial goal, according to the latest data. Motivated by this success, the Kingdom has now set a new ambitious target of welcoming 150 million tourists by 2030.
Tourism has proved to be a significant contributor to the nation’s economy, with domestic and international tourists spending over SAR 250 billion ($66.65 billion) in 2023. This expenditure represents over 4 percent of GDP and 7 percent of the non-oil GDP, and reflects the crucial role played by tourism in diversifying Saudi Arabia’s economy.
Tourism Minister Ahmed Al Khateeb said that this announcement demonstrates the scale of the Kingdom’s transformation since the National Tourism Strategy was launched five years ago.
“Tourism is a key pillar in the nation’s economic transformation under Vision 2030, creating jobs and revenue for the Kingdom,” he said and added “we thank both UN Tourism and WTTC as valued partners in our journey for their shared commitment to a sustainable and prosperous tourism sector.”
Al Khateeb said that the tourism sector operates in line with the national tourism strategy, developing diverse tourist destinations. The aim, he said, is to enrich the tourists’ experience, diversify options for both local and international visitors, and improve hospitality facilities along with other services provided.
“We are committed to aligning with top-tier international experiences and practices. This approach contributes to shaping a prosperous future for our tourism industry, improving the quality of life, and bolstering the Kingdom’s position on the global tourism map,” said the minister.
According to the release, the tourism sector in the Kingdom has made significant leaps, with the total number of tourists, both domestic and international, reaching 106.2 million in 2023. This represents a remarkable 56 percent increase over 2019 and a substantial 12 percent surge over 2022.
International tourists numbered 27.4 million, a substantial 56 percent increase over 2019 and an impressive 65 percent rise compared to 2022.