Saudi Arabia's travel account surplus reached nearly SAR50 bn in 2024

Riyadh [Saudi Arabia], April 4 (ANI/WAM): Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR 49.8 billion, a 7.8% increase over 2023, according to a Tourism Ministry press release.

The release, carried bythe Saudi Press Agency (SPA), said that this surge was fueled by a 13.8% increase in inbound visitor spending compared to 2023, reaching an estimated SAR 153.6 billion in 2024, based on preliminary balance of payments data from the Saudi Central Bank.

The ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem, aimed at strengthening the industry and its contribution to national economic growth. "This success also reflects the effective implementation of best practices in tourism development, enhanced services and products, and strong government collaboration, all advancing the goals of Saudi Vision 2030," said the release. (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)