The World Travel & Tourism Council (WTTC) has saluted Saudi Arabia’s accomplishment of welcoming over 100 million tourists, an achievement accomplished seven years ahead of its unique schedule, meaning the Kingdom’s creative leadership and obligation to changing the global Travel & Tourism sector.
This milestone achievement, set apart by the appearance of over 27 million global tourists and more than 79 million homegrown sightseers, reflects not just Saudi Arabia’s successful system for monetary broadening, but also its resolute commitment to promoting sustainable tourism development.
Saudi Arabia’s accomplishment early highlights the outcome of its proactive methodology which started in 2019 to grow a lively tourism ecosystem. The accomplishment of this objective in 2023, sooner than expected, embodies the Kingdom’s ability to outperform its visionary targets.
Saudi Arabia has seen over 380% flood in tourism activity license applications in 2023, indicating the sector’s robust growth and the effectiveness of the country’s strategic initiatives.
Moreover, the Travel & Tourism sector’s increasing contribution to Saudi Arabia’s non-oil GVA, estimated to exceed 7% and over U.S.$37 billion in inbound tourism spending, highlights the significant economic impact of these efforts.
WTTC has recognized Saudi Arabia’s significant accomplishments in the tourism firsthand at its yearly Global Summit. Hosted in Saud Arabia, this flagship event exemplified the Kingdom’s capacity to facilitate meaningful global dialogues, showcasing its readiness to lead discussions on the future trajectory of the Travel & Tourism sector.
Through strategic reforms, Saudi Arabia has established a solid foundation for a thriving tourism infrastructure, upgrading the Kingdom’s attractiveness as a premier global tourism destination.
Key among these changes is the rebuilding of tourism license fees, now tailored to meet specific needs and operations of investors, ensuring a more supportive and flexible regulatory environment.
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The Kingdom has also taken huge steps to alleviate the financial burden on the Travel & Tourism sector by reducing annual government fees by almost 22%, with a commitment to further reductions of up to 70%. These initiatives are integral to Saudi Arabia’s broader economic diversification strategy, aiming to position the Kingdom at the forefront of global tourism and investment.
Saudi Arabia’s strategic emphasis on tourism has significantly contributed to job creation, with the global tourism body estimating the sector will employ over two million people last year.
This accomplishment lines up with Saudi Arabia’s objective to make the travel industry a main business area by 2030, delineating the public authority’s emphasis on encouraging monetary inclusivity and seriousness.
As Saudi Arabia keeps on extending its toirism system infrastructure and implement strategic reforms, the global Travel & Tourism community looks forward to witnessing the Kingdom’s journey towards becoming a force to be reckoned with.
WTTC is committed to supporting Saudi Arabia’s ambitions, fostering sustainable development, and contributing to the sector’s global recovery and prosperity.
