Saudi Arabia achieved the highest semi-annual surplus ever for the travel item in the balance of payments during the first half of 2023, soaring 327 percent, reaching $10.6 billion, compared to the first half of 2022.
The Ministry of Tourism announced that the Kingdom ranked second globally in the growth rate of tourist arrivals during the first seven months of 2023.
The UNWTO Barometer, issued by the World Tourism Organization (WTO) last month, showed that the Kingdom recorded a growth rate of 58 percent compared to the same period in 2019.
The ministry said there has been significant growth in spending by foreign visitors coming to the Kingdom, which amounted to about $22.3 billion.
The government created about 200,000 jobs and still needs 800,000 more to meet the needs of the hotels and new products to keep pace with the high demand from tourists coming to the country.
The state is building approximately 500,000 new rooms in several areas within the giant government projects in NEOM, Diriyah, and others, in addition to the private sector, which will pump more projects.
Crown Prince Mohammed bin Salman bin Abdulaziz recently launched the general plan for the project to develop al-Soudah and parts of Rijal Alma under the name al-Soudah Peaks.
The Crown Prince is the Chairman of the Board of Directors of al-Soudah Development Company.
Soudah Development is a real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia. It will drive the development of Soudah and parts of Rijal Almaa in the Aseer region.
The Company aims to create a year-round luxury mountain tourism destination with immersive cultural experiences while celebrating the region's natural landscape at 3,015 meters above sea level in the Asir region's unique natural and cultural environment.
The project spans an area of 627 km, including Soudah and parts of Rijal Almaa.
