An extensive travel and accommodation industry has built up around the Hajj pilgrimage, as well as other religious pilgrimages, and Saudi Arabia's hotel sector offers a broad range of budget options with both domestic and international hotel groups well established in the market. The luxury travel sector is less developed, particularly when compared to nearby markets such as the United Arab Emirates.
Saudi Arabia is keen to broaden its tourism appeal as it seeks to lessen its heavy reliance upon oil revenues and a number of extensive tourism developments are planned or underway, including significant investment in transport infrastructure and widespread marketing campaigns.
Key Updates and Forecasts
- Saudi Arabia is keen to expand the tourism industry and the Saudi Commission for Tourism and Antiquities is targeting some 45.3 million tourism visitors by 2020. The current growth estimates put arrivals in 2020 at 19.7mn, up from 15.6mn in 2016.
- Table: Key Forecasts (Saudi Arabia 2013-2020)
- Industry Forecast
- Table: Inbound Tourism (Saudi Arabia 2013-2020)
- Table: Tourism Receipts (Saudi Arabia 2013-2020)
- Table: Hotel Accommodation (Saudi Arabia 2013-2020)
- Table: Tourist Departures and Consumption (Saudi Arabia 2013-2020)
- Industry Risk/Reward Index
- Table: Middle East And North Africa Tourism Risk/Reward Index
- Market Overview
- Competitive Landscape
- Domestic Hotel Groups
- Table: Domestic Hotel Groups
- International Hotel Groups
- Table: International Hotel Groups
- Industry Forecast Methodology
- Risk/Reward Index Methodology
- Table: Weighting Of Indicators