The Kingdom records a travel surplus in balance of payments of 50 billion riyals in 2024

The Kingdom achieved new historical records in the tourism sector in 2024, recording a travel surplus of 49.8 billion riyals in the balance of payments, achieving an estimated growth of approximately 7.8% compared to 2023. This was driven by an estimated 13.8% growth in spending by visitors coming to the Kingdom from abroad compared to 2023. According to preliminary data on the travel item in the balance of payments issued by the Saudi Central Bank, spending by visitors to the Kingdom in 2024 reached approximately 153.6 billion riyals.

The Ministry of Tourism explained that the significant growth in the travel surplus in the balance of payments during 2024 is a result of the efforts made by the Ministry and other components of the Saudi tourism system to strengthen the tourism sector and its contribution to the growth of the national economy. This growth also underscores the effectiveness of the tourism sector’s efforts to position the sector as a global leader, through the application of best tourism development practices, the enhancement of tourism services and products, and ongoing cooperation with all government agencies to support the development of the tourism sector in the Kingdom and achieve the goals of Saudi Vision 2030.