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Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
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Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)

Saudi Arabia's tourism sector continues to achieve remarkable growth, as incoming tourist numbers surged by 27% in the first nine months of 2024 compared to a 14% increase during the same period last year, said Minister of Tourism Ahmed Al Khateeb on Wednesday.

Speaking at the 2025 Budget Forum in Riyadh, Al Khateeb underscored the sector's significant progress toward realizing the goals of Vision 2030.

International tourist arrivals for recreational purposes increased by an extraordinary 600% in 2023 from 2018, he revealed, adding that the rise has been complemented by a boost in visitors arriving for religious purposes, with the Kingdom encouraging such visitors to explore other cities to experience natural and archaeological sites.

The minister said rural tourism has also gained popularity, with increasing demand reported across the Kingdom's diverse regions. By the end of 2023, tourism's contribution to gross domestic product (GDP) reached 5%, and efforts are underway to achieve a 10% contribution by 2030.

Al Khateeb highlighted the economic impact of the sector, noting a surplus of over SAR 41 billion in the balance of payments during the first half of 2024, compared to SAR 48.1 billion for the entirety of 2023. This marks a significant turnaround from 2018 when the balance recorded a deficit of SAR 10 billion, said the minister.

Employment in the tourism sector has also grown substantially, with the number of jobs increasing from 750,000 to 960,000, and localization within the hospitality sector reaching 35%, he added.

The Ministry of Tourism, under the leadership of Prince Mohammed bin Salman, Crown Prince and Prime Minister, is investing heavily in training and developing local talent.

The ministry allocates an annual budget of SAR 375 million to support the qualification and training of up to 100,000 Saudis, including over 10,000 opportunities at world-class institutes, enabling them to take on leadership roles within the industry, Al Khateeb stressed.

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Chinese President Xi Meets with Global CEOs as Investment Wanes 

China's President Xi Jinping (R) and Cai Qi, top ranking of Communist Party, applaud during a meeting with a group of foreign executives at the Great Hall of the People in Beijing on March 28, 2025. (AFP)
China's President Xi Jinping (R) and Cai Qi, top ranking of Communist Party, applaud during a meeting with a group of foreign executives at the Great Hall of the People in Beijing on March 28, 2025. (AFP)
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Chinese President Xi Meets with Global CEOs as Investment Wanes 

China's President Xi Jinping (R) and Cai Qi, top ranking of Communist Party, applaud during a meeting with a group of foreign executives at the Great Hall of the People in Beijing on March 28, 2025. (AFP)
China's President Xi Jinping (R) and Cai Qi, top ranking of Communist Party, applaud during a meeting with a group of foreign executives at the Great Hall of the People in Beijing on March 28, 2025. (AFP)

China's President Xi Jinping met with global CEOs in Beijing on Friday, as the government tries to woo foreign firms whose investment could give the ailing Chinese economy a boost and help insulate it against simmering geopolitical tensions.

Beijing has struggled to assuage foreign investors' concerns over the durability of the $18 trillion economy, while longstanding unease over China's tightening regulations, abrupt crackdowns on foreign firms, and an uneven playing field favoring state-owned companies clouds business sentiment.

"I would like to express my heartfelt thanks to all the foreign enterprises that have participated in and supported China's development," Xi told the business leaders, who included the bosses of AstraZeneca, FedEx, Saudi Aramco, and Standard Chartered.

"Foreign enterprises contribute one-third of China's imports and exports, one-quarter of industrial added value and one-seventh of tax revenue, creating more than 30 million jobs," Xi added.

Around 40 executives joined the meeting, said two sources with direct knowledge of its planning. The majority of which represented the pharmaceuticals sector, one source said.

The frequency of meetings between foreign executives and high-level Chinese officials has picked up over the past month, after official data showed foreign direct investment plummeted 27.1% year-on-year in local currency terms in 2024.

That marked the biggest drop in FDI since the 2008 global financial crisis.

"Transnational corporations play an important role in safeguarding the world economic order," Xi said, while encouraging the companies in attendance to "raise their voices of reason and take pragmatic actions" to this end.

The meeting followed last weekend's China Development Forum (CDF), a flagship business event that this year saw Premier Li Qiang urge countries to open their markets and combat "rising instability and uncertainty".

Xi last year met with American business leaders after the annual business forum, an assignment previously delegated to the Premier, the top leader's second in command.

"I wonder if there is a precedent now, and they will do this annually," said one of the sources, who was involved in the meeting's planning.

China's leader has taken it upon himself in recent months to reassure and energize businesses both foreign and domestic.

Last month Xi held a rare pro-business meeting with some of the biggest names in China's technology sector, including Alibaba's Jack Ma, urging the entrepreneurs to "show their talent" and be confident in the power of China's model and market.