Saudi Arabia’s travel and tourism revenues jump 8.6 pct, fueled by promotion of religious travel
Photo: MEDINA, SAUDI ARABIA, 4 December 2015: Silhouette of pilgrims at the Prophet Muhammad's mosque in Medina / Drpyan / Shutterstock.com
Saudi Arabia's tourism revenues jumped 8.6 percent in 2015 on the back of an increase in domestic and foreign tourists largely due to the kingdom's efforts to promote religious tourism.
The total contribution of Saudi Arabia’s travel industry to the country’s Gross Domestic Product in 2015 was 190.3 billion riyals ($50.7 billion), or 8 percent of GDP, compared to 175.2 billion riyals, or 7.7 percent of GDP, in 2014, according to the March 2016 World Travel & Tourism Council (WTTC) report.
For 2016, WTTC forecasts the kingdom's increase in total travel and tourism contribution to GDP by 4.2 percent. After that an annual rise is predicted at 4.4 percent per year to reach $81.6 billion — about 9.2 percent of GDP — in 2026, according to the Council.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Rob L. Wagner