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FINANCIAL NEWS
Saudi’s tourism industry growing
10 Aug 2017
(MENAFN) Saudi Arabia recorded a notable increase in the contribution of national tourism to GDP as one of the high growth non-oil economic sectors.
Accordingly, the kingdom’s travel and tourism sector is projected to contribute more than USD81bn to the nation’s GDP by 2026.
Furthermore, the number of regional tourist trips inside the kingdom, surpassed 47.5mn last year alone, while tourism revenues grew from USD15.2bn in 2004 to USD43.1bn by the end of 2016.
Additionally, the number of international hotel operation firms also grew from 8 in 2002 to 25 in 2016, while the USD21bn industry is responsible for more than 22 sectors.
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MENAFN1008201700450000ID1095714333
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