Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia Ranks 12th Globally in International Tourism Receipts
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Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia’s tourism sector continues its impressive growth, advancing 15 positions in international tourism receipts and leading the Top 50 ranking in upward movement, SPA reported.

According to the UN World Tourism Organization, Saudi Arabia ranked 12th in 2023, making a significant improvement from its 2019 ranking.
In a press release issued Friday, Saudi Arabia has led G20 countries in growth on the UN Tourism Barometer, achieving a 73% increase in international tourist arrivals and a 207% rise in international tourism receipts based on the latest data from the first seven months of 2024 compared to the same period in 2019.

These impressive gains reflect the Kingdom’s success as a leading tourism destination. The steady increase in international tourist arrivals further underscores the trust visitors place in Saudi Arabia’s rich and diverse attractions. Globally, international tourist arrivals reached 96% of pre-pandemic levels in the first seven months of 2024, totalling an estimated 790 million tourists – an 11% increase over the same period in 2023.
The release disclosed that the Middle East maintained the lead as the strongest-growing region, with international arrivals rising 26% over 2019 levels.



Egyptian Parliament Approves Investment Protection Agreement with Saudi Arabia

The Egyptian Prime Minister met with the Saudi private sector (Saudi Chambers Federation)
The Egyptian Prime Minister met with the Saudi private sector (Saudi Chambers Federation)
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Egyptian Parliament Approves Investment Protection Agreement with Saudi Arabia

The Egyptian Prime Minister met with the Saudi private sector (Saudi Chambers Federation)
The Egyptian Prime Minister met with the Saudi private sector (Saudi Chambers Federation)

The Egyptian Parliament has approved a bilateral agreement with Saudi Arabia aimed at promoting and protecting mutual investments between the two countries, as well as strengthening their economic ties.

According to the Saudi Chambers Federation’s account on platform “X,” the agreement seeks to create optimal conditions for investment exchange between investors from both nations.

Among the anticipated benefits of the agreement are the establishment of a secure and attractive investment environment, an increase in capital flows and investments, and the creation of more job opportunities.

The agreement has received strong support from the leaderships of both countries, as well as ministers, ambassadors, the Saudi Chambers Federation, and the Saudi-Egyptian Business Council.