Between 2013 and 2019, receipts for passenger transport items from international tourists in Saudi Arabia saw significant growth, particularly between 2016 and 2017, with year-on-year increases of 122.41% and 26.56% respectively. However, in 2020, there was a sharp decline of 43.71% due to the global pandemic. Recovery began in 2021 with a year-on-year increase of 50.25%, followed by consistent growth through to 2023. As of 2023, the value stood at 4.2525 billion US dollars.
Over the last two years, the year-on-year variation was 25.56% in 2022 and 17.16% in 2023. The CAGR over the last five years showed an average annual increase of 5.96%. Looking towards the future, the forecast from 2024 to 2028 indicates a continuing growth trend with a forecasted 5-year CAGR of 4.31%, amounting to a total increase of 23.49% by 2028.
Future trends to watch for include potential impacts of global economic conditions, improvements in transportation infrastructure, and changes in tourism policies. Additionally, monitoring the recovery and expansion of international tourism post-pandemic will be crucial for understanding future growth trajectories.
