Saudi Arabia is working to double the economic contribution of its tourism industry, targeting an increase from SAR300 billion to SAR600 billion ($160 billion), Minister of Tourism Ahmed Al-Khateeb announced on Monday.
Speaking during the Public Investment Fund (PIF) Private Sector Forum in Riyadh, Al-Khateeb said the sector’s share of the Kingdom’s gross domestic product has grown steadily—from 3.5 percent in 2019 to about 5 percent today—with ambitions to reach 10 percent in the coming years. He added that tourism remains one of the nation’s fastest-growing job markets, now employing more than one million Saudis, up from roughly 750,000 only a few years ago.
The minister noted that this progress reflects the success of Saudi Vision 2030, which aims to diversify the economy by strengthening non-oil sectors such as tourism, culture, and entertainment. He emphasized that Saudi Arabia’s tourism expansion has positioned the sector as a key pillar of the Kingdom’s economic transformation.
According to early data from the Ministry of Tourism, Saudi Arabia welcomed more than 122 million visitors—both domestic and international—in 2025, representing a 5 percent annual increase. The milestone brings the country closer to its strategic goal of attracting 150 million yearly visitors by 2030.
Tourism spending also rose to around SAR300 billion ($80 billion) last year, up 6 percent from 2024, underscoring the growing appeal of Saudi destinations and visitor experiences.
Al-Khateeb highlighted the PIF’s vital role in developing flagship tourism and entertainment projects such as the Red Sea development and Qiddiya, both expected to attract major investment, create jobs, and boost the private sector’s participation in building hotels, resorts, and leisure facilities.
He pointed out that the government continues to enhance the Kingdom’s investment climate through incentives and financing solutions provided by the Tourism Development Fund, enabling local and international investors to seize new opportunities in the expanding market.
Tourism, Al-Khateeb stressed, is a major global employer contributing about 10 percent to the world’s GDP. He said Saudi Arabia is leveraging this potential to create a more sustainable, diversified, and competitive economy anchored in national capabilities.
Upcoming international events and sports competitions hosted by the Kingdom are expected to further boost visitor numbers and accelerate progress toward the 150 million-visitor target.
The fourth edition of the PIF Private Sector Forum—opened by Governor Yasir Al-Rumayyan at the King Abdulaziz International Conference Center—has become Saudi Arabia’s leading event for fostering partnerships between the public and private sectors. Since its launch in 2023, the forum has drawn over 25,000 local and global participants.
At last year’s edition, the PIF translated discussions into action by facilitating more than 140 agreements with a combined value exceeding SAR15 billion, strengthening private sector contributions to national growth.