The International Monetary Fund (IMF) released the Article IV Consultation Report for Saudi Arabia for 2025 on Thursday, highlighting the strength of the Kingdom’s economy.
The report noted significant growth in the tourism sector, emphasizing its vital role as a key driver of the national economy.
According to the IMF report, international tourism experienced substantial growth, which helped offset some of the outflows from the Kingdom and contributed to reducing the slight deficit in the current account for 2024.
This recognition underscores the steady and rapid progress of the tourism sector in establishing itself as a significant economic engine, thereby enhancing the growth of the national economy and supporting the objectives of Saudi Vision 2030.
In 2024, the number of tourists arriving in the Kingdom reached a historic high of approximately 30 million, reflecting an eight percent increase compared to 2023.
Additionally, international tourist spending reached SR169 billion in 2024, growing by 19 percent compared to 2023, as reported in the annual statistical report on the performance of the tourism sector for 2024.
Credit: zawya
