SNG: Saudi's travel account surplus reaches nearly $13bln in 2024

Staff Writer

Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion ($13 billion), a 7.8% increase over 2023, according to a Tourism Ministry press release, reported SPA.

The release said that this surge was fueled by a 13.8% increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 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.

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