Travel Terns

The Saudi Tourism Authority has set a new goal for its tourism industry, stating that “tourism is the new oil” and raising its target for visitors to the country. The initial target of 100 million visitors by 2030 has already been nearly reached ahead of schedule, with 93.5 million visitors in 2022 alone. In response, the CEO of the Saudi Tourism Authority has said that the target is too low and will be increased. The country plans to expand its hospitality sector, adding up to 315,000 hotel rooms by 2030, which will result in a hotel room inventory greater than the current 140,000 hotel rooms available in Dubai. With giga projects like NEOM leading the supply pipeline, Saudi Arabia is on the cusp of becoming one of the world’s major tourist markets. As the CEO stated, “tourism is the new oil” and the world will come to Saudi for tourism in the 2020s, just as it came for oil in the 1920s.

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