RIYADH, Jul 3 (NNN-SPA) – Saudi Arabia announced yesterday that, inbound visitors spent 45 billion Saudi riyals (about 12 billion U.S. dollars) in the first quarter of 2024, growing by 22.9 percent, compared to the same period last year.
The kingdom also recorded a surplus in the travel account amounting to 24 billion riyals, representing a growth rate of over 46 percent, compared to the same period last year.
During the same period, outbound travellers from the kingdom spent an estimated 21 billion riyals, according to preliminary data, from the Saudi Central Bank’s travel account in the balance of payments.
The increase in spending by inbound visitors is part of the continuous efforts achieved by the tourism sector in the kingdom.
Saudi Arabia ranked first on the United Nations tourism list, for the growth rate of international tourists, and the growth rate of tourism revenues is among the top major tourist destinations globally in 2023.– NNN-SPA
