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FINANCIAL NEWS
15.8 million tourists to Saudi Arabia by 2014:BMI
15 Feb 2012
(MENAFN) A recent report, issued by Business Monitor International (BMI), expected Saudi Arabia to receive 15.8 million tourists by 2014, up from around 13 million in 2010, Arabian Business reported.
The report also saw the kingdom’s hospitality sector growing as hotel rooms are expected to grow 63% to some 381,000 rooms by 2015, driven by business, religious and domestic tourists.
STR Global reported 58 percent occupancy in the kingdom last year, RevPar grew by 17.4 percent to USD120, while average daily rates increased by 8.1% to USD206.
Religious tourism is the main driver of tourism growth in Saudi Arabia as more than half of tourists come to Mecca and Medina, making it a major focus for major investment in hotels and leisure development.
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