Latest news with #travelgrowth
Zawya
03-07-2025
- Business
- Zawya
International visitors spend nearly $13.33bln in Saudi Arabia during 1Q 2025
RIYADH — Saudi Arabia has achieved record growth in spending by international visitors, reaching SR49.4 billion during the first quarter of 2025. This figure represents 9.7 percent growth compared to the same period in 2024, according to travel item data in the balance of payments for the month of May, published by the Ministry of Tourism. The Kingdom achieved a surplus in the travel item of the balance of payments estimated at SR 26.8 billion during the period, a growth rate of approximately 11.7 percent compared to the same period in 2024. The ministry explained that the significant growth in the travel surplus in the balance of payments during the first quarter of 2025 is the result of the efforts made by the ministry and other components of the Saudi tourism system to enhance the tourism sector and its contribution to the growth of the national economy. It also underscores the development witnessed by the tourism sector in the Kingdom. This growth underscores the effectiveness of the efforts exerted by the tourism system to position the sector as a global leader, through the application of best tourism development practices, the advancement of tourism services and products, and the ongoing cooperation with all government agencies to support the development of the tourism sector in the Kingdom and achieve the goals of Saudi Vision 2030. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Business
04-06-2025
- Business
- Arabian Business
Middle East tourism spend to hit $350bn by 2030 amid luxury, sports, and business travel boom
Middle East tourism spending is projected to surge by 50 per cent to reach $350bn by 2030, according to the new ATM Travel Trends Report 2025, compiled by Tourism Economics for Arabian Travel Market (ATM). The report highlights the region's exceptional post-pandemic rebound and long-term growth potential, driven by luxury travel, business events, and sports tourism. Spending on tourism across the Middle East is already on track to exceed pre-pandemic levels by 54 per cent this year. Middle East tourism spending From 2025 to 2030, the market is expected to grow at more than 7 per cent annually. Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: 'The report's findings confirm that travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7 per cent through 2030. 'Bold national visions, game-changing developments, and enhanced connectivity are some of the key factors driving this momentum.' Key insights from the report include: Inbound travel to the Middle East is set to grow 13 per cent annually, with India, the UK, and China among the top source markets Chinese leisure spending alone is forecast to grow 130 per cent by 2030 Tourism nights from Asia Pacific and Africa will more than double Business travel in the region is expected to grow 1.5 times faster than the global average, positioning the Middle East as a top global 'bleisure' hub Luxury travel is booming, with nearly 60 per cent of visitors choosing premium experiences. Over 170 luxury hotels already operate in the region, with dozens more in development in the UAE and Saudi Arabia Sports tourism is forecast to grow 63 per cent, fuelled by major events such as the 2034 FIFA World Cup in Saudi Arabia and a surge in interest in motorsports, golf, cycling, and esports Airlines are scaling up rapidly to meet demand: Emirates, Etihad, Qatar Airways, and Saudia have placed nearly 780 new aircraft orders with Boeing and Airbus, solidifying the region's role as a global aviation hub As the Middle East continues to attract high-spending tourists and host world-class events, it is cementing its position as one of the fastest-growing and most dynamic tourism regions on the planet.
