Travel and tourism industry supports continued economic growth of The Kingdom of Saudi Arabia

Published August 1st, 2010 - 09:18 GMT
Al Bawaba
Al Bawaba

The kingdom of Saudi Arabia has a rich and diverse tourism industry, due to its geographical location and soaring economy the travel & tourism industry is proving to be an important sector in the economic growth of the country. The main causes for such growth within this industry can be traced to an increase in corporate business travel and religious tourism.

The travel and Tourism industry registered a 10% growth rate over the last five years reaching 58 billion riyals in 2009. The increase has been throughout the sector and all areas including domestic tourism have grown consistently at the same pace.

Mr. Ali Tijani, group vice president of Al Tayyar Travel Group commented on the importance of this sector in supporting the Saudi economy, saying: "Saudi Arabia's inbound tourism has increased 11% over the past two years, and is expected to reach 101.3 billion riyals in 2020. The travel industry and tourism also contributed by 7.2% of the GDP of the Kingdom, or about 102 billion riyals last year."

The General Authority for Tourism and Antiquities in Saudi Arabia is actively seeking to intensify their efforts and is expanding all necessary resources to develop the travel & tourism industry and has shown that this is one of the vital sectors that support national income and the nations economy.

The Saudi Arabia Government is currently seeking to attract investors and help create a number of opportunities for further development within this sector. This is being achieved by support of local travel companies and promoting the capabilities of The Kingdom through international and regional exhibitions within the industry.

It should be noted that companies within the industry on a local and regional level are performing extremely well and are continuing to expand throughout The Kingdom as well on a regional and international level.

Mr. Ali Al-Tijani, added: "The industry is expected to create between 1.5 and 2.3 million new jobs by 2020, owing to a rise in the popularity of the Kingdom the growth rate of Corporate travellers and tourists is estimated to increase from 5% to 6.5% by 2014."

It is also worth noting that Saudi Arabian citizens now have a much more diverse range of choices when selecting their business and holiday destinations, this has also helped the growth of the industry and contributed to a revitalization of international tourism. Figures announced by the Singapore Tourism Board have shown that in 2009 the number of vistors from Saudi Arabia to Singapore rose by 7% whilst as of June 2010 the Middle East saw the total number of travellers increase by 102% reflecting on the same period last year.

The "Al Tayyar Travel Group" is one of the largest tourism companies in the Middle East and the world, offering the very best travel and tourism services for individuals, families and groups alike. In addition the company offers a variety of tourist destinations that cover hotels from around the world offering affordable and appropriate packages for all income groups, whilst always taking into account all the special requests of its customers. 

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