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.



Saudi Arabia, Djibouti Sign Agreement to Promote, Safeguard Investments

The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
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Saudi Arabia, Djibouti Sign Agreement to Promote, Safeguard Investments

The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA

Saudi Arabia and Djibouti have signed an agreement to encourage and protect mutual investments, marking a significant step in enhancing economic cooperation between the two nations.
The agreement was signed by Saudi Minister of Investment Khalid Al-Falih and Djiboutian Secretary in Charge of Investment and Development of the Private Sector Safia Mohamed Ali Gadileh during the 28th World Investment Conference in Riyadh, SPA reported.

The event is being held under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister.
Both officials praised the agreement, emphasizing its importance in fostering collaboration between the private and government sectors of both countries. They highlighted the agreement’s role in supporting the ambitious investment initiatives currently being pursued by the Kingdom and Djibouti.
The agreement is designed to create a secure and attractive investment environment by offering key advantages such as investment protection, national treatment, fair and equitable treatment, transparency, and access to national courts or international arbitration for dispute resolution.
By ensuring these safeguards, the agreement aims to increase the volume of mutual investments across various sectors and strengthen economic ties between the two nations.