Saudi tourism revenues to hit $56.67bn this year
RIYADH, November 19, 2018
Saudi Arabia's tourism revenues are expected to exceed SR211 billion ($56.67 billion) this year, compared to SR193 billion recorded in 2017, said a report.
The travel and tourism sector in Saudi Arabia has grown at a much faster rate than the wider economy, according to the report by Tourism Information and Research Center (MAS) of the Saudi Commission for Tourism and National Heritage (SCTNH), a Saudi Press Agency report said.
The statistical report showed a remarkable growth in the tourism sector in recent years, following the success of the efforts of the SCTNH in establishing the structure and organisation of the sector and approving its regulations.
The report pointed to the significant increase in the contribution of national tourism to Gross Domestic Product (GDP) as one of the most non-oil economic sectors.
Tourism revenues increased from SR57.3 billion in 2004 to more than SR193 billion in 2017, it said.
