Kingdom of Saudi Arabia Tourism Market Size to Hit $53.2
New York, Jan. 28, 2025 (GLOBE NEWSWIRE) — Overview
The Kingdom of Saudi Arabia Tourism Market size is expected to reach USD 53.2 billion by 2024 and is further anticipated to reach USD 110.1 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 8.4% from 2024 to 2033.
Tourism in Saudi Arabia contains leisure, religious, cultural, and adventure travel. Historically centered on Islamic pilgrimages to Mecca and Medina, it has expanded to heritage sites like Al-Ula, modern attractions in Riyadh, and Red Sea resorts. The Kingdom’s Vision 2030 prioritizes tourism and focuses on diversifying its economy beyond oil. With rich historical and natural offerings, Saudi Arabia appeals to international and domestic travelers
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Important Insights
- The Kingdom of Saudi Arabia Tourism Market is expected to grow USD 110.1 billion by 2033 from 2025 with a CAGR of 8.4%.
- The leisure tourism segment is expected to get the majority share of the Kingdom of Saudi Arabia Tourism Market in 2024.
- The 30 to 41 years segment is expected to be the leading age group in the market in 2024.
- The less than 7 days segment is set to get the largest revenue share in 2024 in the Kingdom of Saudi Arabia Tourism Market.
Global The Kingdom of Saudi Arabia Tourism Market: Trends
- Rise in Short Trips: Growing popularity of quick getaways, mainly among neighboring countries, for cultural and luxury experiences.
- Seasonal Festivals: Events like Riyadh Season and Jeddah Season draw various international attention.
- Sustainability Focus: Eco-friendly projects like the Red Sea Project focus on sustainable tourism development.
- Digital Transformation: Better e-visa systems and digital platforms streamline travel planning and improve visitor experiences.
The Kingdom of Saudi Arabia Tourism Market: Competitive Landscape
Saudi Arabia’s tourism market is evolving, driven by Vision 2030 investments in infrastructure, hospitality, and entertainment. Competing with regional Middle Eastern destinations, the Kingdom stands out with distinctive cultural, religious, and adventure experiences. The focus on diverse providing, luxury services, and seamless travel positions Saudi Arabia as a key player in the global tourism market, appealing to a variety of travelers.
Some of the major players in the market include Marriott International, Accor, Hyatt Hotels Corporation, Attar Travel, Almosafer, and more.
Some of the prominent market players:
- Marriott International
- Accor
- Hyatt Hotels Corporation
- Attar Travel
- Almosafer
- Zahid Travels
- Riyadh AIr
- Four Seasons Hotels & Resorts
- Six Senses
- Flynas
- Other Key Players
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The Kingdom of Saudi Arabia Tourism Market Scope
Report Highlights | Details |
Market Size (2024) | USD 53.2 Bn |
Forecast Value (2033) | USD 110.1 Bn |
CAGR (2024-2033) | 8.4% |
Historical Data | 2018 – 2023 |
Forecast Data | 2025 – 2033 |
Base Year | 2023 |
Estimate Year | 2024 |
Segments Covered | By Travel Purpose, By Travel Type, By Booking Mode, By Travel Days, By Age Group |
Segment Analysis:
Saudi Arabia’s tourism market blooms on short trips of under seven days, attracting visitors to cultural landmarks, luxury resorts, and seasonal events like Riyadh Season. These quick getaways, ideal for busy travelers, boost tourism growth. Also, longer stays of 7–15 days play a crucial role by providing immersive experiences, from exploring Al-Ula and Jeddah to enjoying adventure activities and religious sites like Mecca. These diverse offerings promote repeat visits and appeal to travelers looking for deeper cultural and leisure experiences.
The Kingdom of Saudi Arabia Tourism Market Segmentation
By Travel Purpose
- Medical Tourism
- Leisure Tourism
- Business Tourism
- Others
By Travel Type
By Booking Mode
- Physical Booking
- Online Booking
By Travel Days
- Less than 7 Days
- 7 to 15 Days
- More than 15 Days
By Age Group
- Below 30 years
- 30 to 41 years
- 42 to 49 years
- 50 years & above
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Global The Kingdom of Saudi Arabia Tourism Market: Driver
- Vision 2030 Investments: Major government initiatives aiming at infrastructure, hospitality, and entertainment developments.
- Diverse Offerings: Distinctive cultural, religious, and adventure experiences, like heritage sites and luxury resorts.
- Seasonal Events: High-profile attractions like Riyadh Season and Jeddah Season draw global attention.
- Strategic Location: Proximity to key markets in the Middle East and Asia encourages short- and long-term visits.
Global The Kingdom of Saudi Arabia Tourism Market: Restraints
- Cultural Sensitivities: Restrictions on certain behaviors and practices may impact some international travelers.
- Seasonal Climate: Extreme heat during the summer months can limit outdoor tourism activities.
- Regional Competition: Neighboring countries provide similar attractions, increasing the challenge of differentiation.
- Visa and Accessibility Issues: Despite recent improvements, visa policies and limited direct flights may impact ease of travel for some tourists.
Global The Kingdom of Saudi Arabia Tourism Market: Opportunities
- Religious Tourism Expansion: Higher capacity for pilgrims in Mecca and Medina supports growth in this lucrative segment.
- Mega Projects: Developments like NEOM, Al-Ula, and the Red Sea Project offer unique, world-class experiences.
- Adventure Tourism: Untapped potential in deserts, mountains, and coastlines attracts nature and adventure enthusiasts.
- Emerging Markets: Growing interest from Asian and European travelers provides opportunities for targeted marketing and customized packages.
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Recent Developments in the Kingdom of Saudi Arabia Tourism Market
- November 2024: Saudi Arabia’s Ministry of Tourism launched Ramlah Co. for Tourist Trips and Resorts, a new initiative to attract visitors to the Hail region, a part of the broader Saudi Winter Season campaign, which provides distinctive experiences in its key destinations.
- November 2024: The Saudi Tourism Authority (STA) launched an AI travel buddy called Sara, highlighted in beta mode at London’s World Travel Market, as it is created for a national tourism board, which goes beyond conventional chatbots by providing visitors with a lifelike interactive experience.
- November 2024: Saudi Arabia is providing refunds on value-added tax for eligible purchases made by tourists starting in 2025, which were open for public consultation through the Istitlaa platform until Sept.
- November 2024: Saudi Tourism Ministry announced support for 17 different tourism initiatives in Al Ahsa region of the kingdom, valued at more than 931 million, that, on completion, will add 1,800 more hotel rooms to the kingdom.
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