The Kingdom is experiencing a vibrant era in the tourism sector, with around $13 billion attracted in private sector investments in the tourism industry.

These investments are set to bring in an additional 150,000 to 200,000 hotel rooms within the next two years, according to Princess Haifa Al Saud, Saudi Arabia's Deputy Minister of Tourism.

Princess Haifa further added that the Kingdom aims to raise tourism revenues to $85 billion this year, up from around $66 billion in 2023, according to Bloomberg.

Saudi Arabia aims to welcome 150 million visitors annually by 2030 as part of Crown Prince Mohammed bin Salman's Vision for the economy, which includes diversifying revenue sources away from oil and towards industries including sports and technology.

In 2023, Saudi Arabia recorded 100 million visits, with the majority from domestic visitors, while international visitors numbered around 27 million, with a significant portion linked to Umrah, Hajj, or business trips.