Tourism Sector Contributes to 4.45% of Saudi Arabia's GDP

One of the tourism projects planned in AlUla, Saudi Arabia. (SPA)
One of the tourism projects planned in AlUla, Saudi Arabia. (SPA)
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Tourism Sector Contributes to 4.45% of Saudi Arabia's GDP

One of the tourism projects planned in AlUla, Saudi Arabia. (SPA)
One of the tourism projects planned in AlUla, Saudi Arabia. (SPA)

Saudi Minister of Tourism Ahmed al-Khateeb announced that the tourism sector's contribution to Saudi Arabia's gross domestic product (GDP) reached 4.45 percent, noting that the Kingdom will invest over $800 billion in the upcoming ten years.

Speaking at the 10th Arab-China Business Conference in Riyadh on Sunday, Khateeb added that this percentage is set to continue increasing until it reaches the global level of ten percent.

He confirmed that his ministry had devised development plans for the travel and tourism sector, representing three percent of the labor market.

He stated that tourists from over 49 countries can now obtain e-visas electronically since the launch of tourism initiatives.

Any traveler with a Schengen or European visa can enter the Kingdom through various communication channels and easy online applications.

The Saudi tourism sector is one of the principal axes of Vision 2030, said the Minister, indicating that the Middle East is recovering the fastest from the pandemic among the five central regions, contributing to the growth of global travel and tourism.

Moreover, Khateeb said the tourism sector has provided job opportunities, promoted sustainable and social development, and strengthened international and local cooperation.



GASTAT: Inflation Rate in Saudi Arabia Reached 1.9% in December

The Saudi capital Riyadh. Reuters
The Saudi capital Riyadh. Reuters
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GASTAT: Inflation Rate in Saudi Arabia Reached 1.9% in December

The Saudi capital Riyadh. Reuters
The Saudi capital Riyadh. Reuters

The annual inflation rate in Saudi Arabia reached 1.9% in December 2024, according to the General Authority for Statistics (GASTAT).

The Kingdom has the lowest inflation rates among the G20 countries.

The Consumer Price Index (CPI) reflects changes in prices paid by consumers for a fixed basket of goods and services consisting of 490 items. This basket was selected based on the results of the household expenditure and income survey conducted in 2018. Prices are collected through on-site visits to sales points.

CPI statistics are published monthly.