IMF praises the significant growth of the tourism sector and its economic role in the Kingdom

The fund pointed to the arrival of 30 mn tourists and spending of SAR 169 bn in 2024 and the role of tourism in mitigating the deficit.
International Monetary Fund Riyadh office market

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The International Monetary Fund released the report of the Article IV consultation for Saudi Arabia in 2025, emphasizing the strength of the Kingdom's economy. The report included a reference to the significant growth of the tourism sector and its role as a key tributary to the national economy.

The IMF report indicated that tourism from abroad achieved significant growth that succeeded in offsetting part of the outflows from the Kingdom, and contributed to alleviating the slight current account deficit for the year 2024.

The IMF report indicated that inbound tourism from abroad achieved significant growth that succeeded in offsetting part of the Kingdom's outflows and contributed to alleviating the slight current account deficit in 2024.

The Fund's report indicated that tourism from abroad achieved significant growth that succeeded in offsetting part of the Kingdom's outflows. This commendation reflects the sector's steady and accelerated progress towards consolidating its role as a major economic engine that enhances the growth of the national economy and supports the realization of the goals of the Kingdom's Vision 2030.

It is noteworthy that the number of tourist arrivals from abroad to the Kingdom in 2024 reached a historic level, reaching about (30) million tourist arrivals from abroad, registering a growth of (8%) compared to 2023, and the total tourism expenditure of inbound tourism from abroad reached about (169) billion Saudi riyals in 2024, a growth of (19%) compared to 2023, according to the annual statistical report on the performance of tourism sector for 2024.

The annual statistical report on the performance of the tourism sector for 2024.