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.



Egypt's Net Foreign Assets Fall in September

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
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Egypt's Net Foreign Assets Fall in September

A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's net foreign assets (NFAs) fell by $591 million in September having dropped off sharply in August, central bank data showed on Friday.

NFAs declined to the equivalent of $10.31 billion at end-September from $9.72 billion in August, according to Reuters calculations based on the official central bank currency rate at the time, Reuters reported.

NFAs fell by $3.53 billion in August.

Egypt had been using its NFAs, which include foreign assets at both the central bank and commercial banks, to help prop up its currency since at least September 2021. NFAs turned negative in February 2022.

Foreign assets rose slightly at commercial banks in September but dipped at the central bank, while foreign liabilities climbed at commercial banks and eased at the central bank.