Forecast: International Tourism Expenditures in Saudi Arabia

The international tourism expenditures in Saudi Arabia have shown a fluctuating trend over the years. From 2013 to 2023, the expenditures fluctuated, reaching a peak in 2014 and experiencing significant drops such as in 2020 likely due to global disruptions. As of 2023, expenditures stood at 7.43 units of total imports, reflecting a slight increase of 3.99% from the previous year.

Year-on-year variations indicate periods of both growth and decline, with a notable recovery phase in 2021 (31.91% increase) after a major dip in 2020 (33.6% decrease). The CAGR over the last five years stood at -2.78%, showing a general downward trend.

The forecast from 2024 onwards predicts a gradual decrease in international tourism expenditures, with an expected five-year CAGR of -2.64% and an overall decline by 12.53% by 2028.

Future trends to watch for include the impact of global economic conditions, changes in international travel policies, and Saudi Arabia’s ongoing efforts to promote tourism, which may influence expenditure patterns and potentially drive recovery or further declines in the coming years.