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Saudi Arabia Tourism Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 34 pages

Includes 3 FREE quarterly updates

BMI View: Saudi Arabia's tourism sector continues to expand. The market will continue to be largelydriven by the huge volumes of foreign visitors - mostly from neighbouring countries - embarking on annualreligious pilgrimages to the kingdom. However, the country is keen to attract more leisure tourism visitorsand the government has recently indicated that it sees tourism as playing a key role in its economicdiversification plans, which bodes well for investment opportunities in the sector. That said, we do notexpect these plans to be implemented at the pace set out by the government, while political risks could alsoundermine this agenda. Other barriers to growth include extensive visa restrictions and regional securityconcerns, which may deter potential visitors.

Key Updates And Forecasts

- Saudi Arabia is keen to expand the tourism industry and the Saudi Commission for Tourism andAntiquities is targeting some 45.3 million tourism visitors by 2020. We view these projections as overlyoptimistic and expect arrivals in 2020 to reach just under 20mn.

- The government is reportedly considering easing visa restrictions to encourage more internationaltourism arrivals. Further, the outlook for sector has arguably brightened following the launch in April2016 of the government's economic diversification strategy, dubbed Vision 2030.

- A number of domestic, regional and global hotel groups are expanding their presence. Rotana Hotels hasannounced plans to open five new hotels in Saudi Arabia in 2016, part of regional expansion plans, while leading global hotel groups such as Marriott, Carlson Rezidor, InterContinental and Starwood alsohave new properties under development.

Table Of Contents

Saudi Arabia Tourism Report Q3 2016
BMI Industry View 5
Table: Key Forecasts (Saudi Arabia 2013-2020) 5
SWOT 7
Tourism 7
Industry Forecast 9
Table: Inbound Tourism (Saudi Arabia 2013-2020) 14
Table: Tourism Receipts (Saudi Arabia 2013-2020) 16
Table: Hotel Accommodation (Saudi Arabia 2013-2020) 19
Table: Tourist Departures and Consumption (Saudi Arabia 2013-2020) 20
Industry Risk/Reward Index 21
Table: Middle East And North Africa Tourism Risk/Reward Index 21
Rewards 21
Risks 22
Market Overview 24
Competitive Landscape 28
Domestic Hotel Groups 28
Table: Domestic Hotel Groups 28
International Hotel Groups 29
Table: International Hotel Groups 29
Methodology 31
Industry Forecast Methodology 31
Risk/Reward Index Methodology 32
Table: Weighting Of Indicators 34

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