Tourism Sector in Saudi Arabia

Entering the tourism sector in Saudi requires proper planning. If you are interested in taking this leap and growing your business in this country, you need to start by understanding government initiatives like Vision 2030. We are here to assist you with the company registration procedure. Meet us at Company Setup Saudi Arabia – your destination for acquiring prominence in the land of KSA.

The tourism sector is no longer confined to religious tourism only; it enters the luxury, culture, and adventurous tourism sectors. Thus, the number of international visitors to Saudi Arabia in 2022 increased to 94.5 million people. Around 16. 6 million people are foreign tourists. In terms of income, the tourism sector was a promising industry that year, with an estimated $54 billion. This change is driven by government investment in large-scale projects.

The Future of Tourism in Saudi Arabia

Saudi Arabia’s Vision 2030 is the foundation on which the tourism revolution is being developed. Hence, the plan aims to make the economy less dependent on oil. That’s where the role of tourism comes in. There has been an array of projects that give a new image of the country as an attractive tourist destination. For example, KSA Air is expected to start as a digital-first airline. As per expectations, it aims to serve more than 100 cities by the end of 2030.

Considering the future of tourism in Saudi Arabia, it is expected to be listed as one of the world’s top 10 travel destinations. Surveys suggest that the total number of international visitors arriving in Saudi Arabia during the first quarter of 2023 is 7. 8 million tourists.

The earnings in the tourism sector have been $9.9 billion during this period. According to Vision 2030, religious tourism is expected to increase, and so will the demand for hospitality in cities like Jeddah and Riyadh.

Investment Opportunities in Saudi Arabia’s Tourism Sector

Several high-profile projects are already under development. That’s why Saudi Arabia’s tourism industry is expected to offer enormous opportunities for investors. Altogether, the industry is anticipated to grow by 130% by 2032. The growth offers several prospects to companies in the hospitality, entertainment, and travel industries. Smaller enterprises can also become popular with this growth.

Thus, if you join the tourism sector in KSA or elsewhere in Riyadh, it’s time to consult us for business registration and licensing. At Company Setup Saudi Arabia, our team will guide you through the complex process. Consult us today and get your tourism business registered in Saudi Arabia.