Saudi Arabia tourism and economic diversification

Overview

Saudi Arabia is undergoing a significant transformation in its tourism sector, driven by the Vision 2030 initiative. Current trends show resilient demand and a surge in domestic travel, with domestic bookings accounting for 46% of all travel. Growth is particularly notable in religious tourism in Makkah and Madinah, as well as leisure destinations such as the Red Sea.

To support regional connectivity, Qatar Airways is expanding its services to the Kingdom, increasing its weekly flights to 155 for the winter season.

Looking ahead, leisure tourism in the Kingdom is forecasted to surge by 93% between 2025 and 2030, a rate expected to outpace both Middle Eastern and global averages. This economic shift is being bolstered by strategic investments from the Public Investment Fund (PIF) in sectors including sports and fashion to diversify the economy and expand the nation's international presence.

Entities

Saudi Arabia · Vision 2030 · Oxford Economics · Qatar · Public Investment Fund

Timeline

1 day ago

[BUSINESS] 3 sources
Saudi Arabia leisure tourism forecast to surge 93% by 2030
Saudi Arabia's leisure tourism is projected to grow 93% by 2030, outpacing global trends as part of a broader economic transformation driven by Vision 2030 and major PIF-backed investments.
7 days ago

[BUSINESS] 2 sources
Saudi Arabia tourism grows as Qatar Airways expands regional network
Saudi Arabia sees a rise in domestic tourism and regional connectivity as Almosafer reports a surge in local bookings and Qatar Airways expands its flight network within the Kingdom.

Sources

everything-pr.com · leaders-mena.com · minanews.net · syyaha.com · ttrweekly.com