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Saudi Arabia’s inbound tourism spending reaches record $41bn thanks to PIF investments


Inbound tourism spending in Saudi Arabia increased to a record SR153.61 billion ($40.95bn) in 2024 as the kingdom invests in its travel and entertainment offering. From Qiddiya to NEOM, Saudi Arabia is creating a host of giga-projects and attractions as part the Public Investment Fund’s (PIF) Vision 2030. This aims to diversify the economy and reduce the kingdom’s reliance on oil.

Non-religious tourism in Saudi Arabia now accounts for the majority of international travel, according to a new Ministry of Tourism report. As part of Vision 2030, Saudi Arabia is undergoing a rapid transformation and investing billions in new attractions, entertainment experiences, and tourism destinations.

Giga-projects include Qiddiya, a multibillion-dollar entertainment destination in Riyadh; and NEOM, a $500bn futuristic city with tourism and entertainment offerings. The Red Sea is a regenerative tourism destination, while Diriyah is a cultural and lifestyle destination.

Read the full story at BlooLoop