Saudi Arabia Travel & Tourism Market, By Product/Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Others), By Type, By Purpose of Visit, By Tourist Profile, By Region, Competition, Forecast & Opportunities, 2027

Saudi Arabia travel & tourism market is projected to grow at a formidable rate during the forecast period. The growth can be attributed to the increasing number of initiatives by the Saudi government to encourage tourism in the country as a part of Saudi Arabia Vision 2030 project. The Kingdom has planned an investment of USD810 billion in culture, leisure, and entertainment over the next decade. The strategy has significantly contributed to enhancing the country’s attractiveness as a tourist destination and the kingdom plans to make progress toward its goal to have 100 million visitors in the country by 2030. There have been increased focus upon creating a brand-new hospitality landscape in the country by launching giga projects across the Kingdom and some massive leisure projects on the western coast. “Amaala project”, “Qiddiyah project”, “Red Sea project” and other such projects are expected to promote Saudi Arabia's heritage, and thus contribute towards the growth of Saudi Arabia travel & tourism market. Besides, religious traveling by national and international visitors as well as the increasing personal disposable income are expected to drive the growth of Saudi Arabia travel & tourism market. Although COVID-19 put a pause on tourism activities for some time, the recent advancements in vaccination and growing recoveries from the lockdown are expected to encourage Saudi Arabia travel & tourism market. Growing affordability of airline travel and rising expenditures by tourists towards foods, souvenirs, clothing, etc., are expected to encourage the growth of Saudi Arabia travel & tourism market during the next five years.

The Saudi Arabia travel & tourism market is segmented on the basis of product/service offering, type, the purpose of visit, tourist profile, regional distribution, and competitional landscape. Based on product/service offerings, the market is further fragmented into ticket reservations, hotel booking, holiday/tour packages, travel insurance, and others. Ticket reservation is expected to dominate the Saudi Arabia travel & tourism industry on account of ticket reservations for affordable air travel, convenient tour planning, and other segments. Hotel bookings are projected to register significant growth as international tourists are expected to visit Saudi Arabia for religious pilgrimages like the Mosque of Mecca, Kaaba, etc.

Akbar Travels and Tourism, Almosafer, Saudi Arabia, Saudi Arabian Airlines (SAUDIA), Saudi Arabia Tours, HelloTravel, Make My Trip, Yatra, Expedia, Ease My Trip and Travelocity are the major players in Saudi Arabia travel & tourism market. Mergers & acquisitions and new product developments are competitive strategies adopted by the Saudi Arabia travel & tourism market.q

Years considered for this report:

• Historical Years: 2017-2020
• Base Year: 2021
• Estimated Year: 2022
• Forecast Period: 2023-2027

Objective of the Study:

• To analyze the historical growth of the market size of Saudi Arabia travel & tourism market from 2017 to 2021.
• To estimate and forecast the market size of Saudi Arabia travel & tourism market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast Saudi Arabia travel & tourism market based on product/service offering, type, purpose of visit, tourist profile, competitional landscape, and regional distribution.
• To identify dominant region or segment in the Saudi Arabia travel & tourism market.
• To identify drivers and challenges for Saudi Arabia travel & tourism market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia travel & tourism market.
• To identify and analyze the profile of leading players operating in Saudi Arabia travel & tourism market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia travel & tourism market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of suppliers, and service providers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers which could not be identified due to the limitations of secondary research. The publisher analyzed the service provider, distribution channels and presence of all major players across the country.

The publisher calculated the market size of Saudi Arabia travel & tourism market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Travel & tourisms providers, end users, and other stakeholders
• Distributors and suppliers of the related products and services
• Organizations, forums, and alliances related to travel & tourisms
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia travel & tourisms market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Travel & Tourisms Market, By Product/Service Offering:

• Ticket Reservation
• Hotel Booking
• Holiday/Tour Packages
• Travel Insurance
• Others

Saudi Arabia Travel & Tourism Market, By Type:

• Domestic
• Inbound
• Outbound

Saudi Arabia Travel & Tourism Market, By Purpose of Visit:

• Business
• Leisure & Recreation
• Education
• Medical
• Social Activity
• Others

Saudi Arabia Travel & Tourism Market, By Tourist Profile:

• Saudians
• Foreign Nationals

Saudi Arabia Travel & Tourism Market, By Region:

• Western
• Eastern
• Northern & Central
• Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Travel & Tourism market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.

This product will be delivered within 1-3 business days.