August 2: The Saudi
travel and tourism sector is set to be the fastest growing travel and tourism
in the Gulf region with the World Travel & Tourism Council (WTTC) predicting
the travel and tourism sector in the country to grow by 11% annually in the
latest Economic Impact Report (EIR) said this growth which is over six times
the 1.8% growth rate of its economy, will boost the economic return of Saudi.
following two years of heartache, Saudi Arabia’s Travel & Tourism sector's
contribution to the national economy could surpass pre-pandemic levels, when it
is projected to rise 2% above 2019 levels, to reach nearly SAR 297 billion.
in the sector could also exceed 2019 levels by 14.1%, creating more than
223,000 additional jobs, representing nearly more than 1.8 million by the end
of next year.
By the end
of this year, the sector’s contribution to GDP is expected to grow 15.2% to
nearly SAR 223 billion, amounting to 7.2% of the total economic GDP, while
employment in the sector is set to grow by 16.1% to reach more than 1.5 million
the global tourism body, the Kingdom, due to host WTTC’s 22nd Global
Summit in Riyadh from 28 November to 1 December this year, is witnessing a
faster than average recovery following the government’s total commitment to the
Travel & Tourism sector, ensuring it remained at the forefront of the
By 2032, the
travel and tourism sector’s contribution to GDP would hit nearly SAR 635
billion, representing 17.1% of the total economy.
also reveals travel and tourism employment could double over the next 10 years,
creating more than 1.4 million jobs, to reach almost three million employed
within the sector by 2032.
projections for both employment and the sector’s contribution to the Kingdom’s
economy, surpass the ambitious goals set out by the government’s Vision 2030