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Saudi Arabia’s tourism industry attracted $13 billion in investment in 2023. Annual revenue has grown from US$66 billion at the beginning of the year to US$85 billion, a growth rate of 28%.
The number of hotels is estimated to increase by 150,000 to 200,000 in the next two years, reaching 540,000.
Saudi Arabia hopes that tourism will increase its share of GDP from 4.5% now to 10% by 2030.
The number of tourists in Saudi Arabia in 2023 will be 106 million, a significant increase compared with 18.1 million in 2016, which will also allow Saudi Arabia to jump from 43rd in the global ranking that year to 13th in 2023.
The Saudi government plans to attract US$80 billion in tourism investment by 2030.