JEDDAH: Saudi Arabia has made a remarkable leap, climbing 15 places to rank 12th in global tourist spending for 2023, according to the latest UN Tourism report. This is the largest jump among the top 50 countries.

The ranking follows a September report from the UN Tourism, which highlighted the Kingdom’s leadership among G20 nations with a 73 percent increase in international visitor growth and a staggering 207 percent rise in international tourism receipts from January to July 2024 compared to the same period in 2019.

These achievements reinforce Saudi Arabia’s status as a premier global tourism destination, showcasing travelers’ growing confidence in the Kingdom's diverse and appealing offerings. In a bid to capitalize on this momentum, the tourism sector has raised its target for 2030 from 100 million to 150 million visitors, with potential for further increases if this goal is met ahead of schedule, according to Mahmoud Abdulhadi, deputy minister of destination enablement at the Ministry of Tourism.

Speaking at the Future Hospitality Summit in Riyadh last week, Abdulhadi noted that targets are continually assessed and adjusted based on sector performance.

The UNWTO praised the Kingdom’s tourism progress as a “significant milestone” in its quest to become a global leader in the industry. The report indicated that tourism-related spending surpassed $37 billion in 2023, accompanied by substantial growth in hotel capacity across the country.

In the first seven months of 2024, Saudi Arabia welcomed approximately 17.5 million international tourists. For 2023, the Kingdom hosted 27.4 million visitors, marking a 56 percent increase from 2019. This surge has placed Saudi Arabia at the top of the UN’s list for tourism growth among major destinations.

Additionally, the Kingdom’s tourism surplus reached a record SR48 billion ($12.8 billion) in 2023, a 38 percent year-on-year increase.

The International Monetary Fund, in its 2024 Article IV Consultation report released in September, commended the significant progress made by Saudi Arabia’s tourism sector under the Saudi Vision 2030 initiative. The IMF underscored the sector’s vital role in diversifying the Kingdom’s economic base, particularly within the services sector, where it has become a key growth driver in terms of visitor numbers, spending, job creation, and contribution to GDP.

According to the latest UNWTO Barometer report, global international tourist arrivals have rebounded to 96 percent of pre-pandemic levels from January to July 2024, totaling approximately 790 million — an 11 percent increase compared to the same period in 2023. The UNWTO also noted that the Middle East led global growth with a 26 percent rise in international arrivals compared to 2019 levels.