Global Tourism Projected at $11.7 Trillion by 2025, Saudi Arabia’s Record Growth

Economic Impact of Global Tourism

The global travel and tourism industry is on the verge of an impressive milestone, with projections indicating a contribution of USD 11.7 trillion to the world economy by 2025. This reflects a substantial 10.3% of the global GDP and supports a staggering 371 million jobs worldwide. This growth signifies not only a rebound from previous downturns but also highlights the resilience of the travel sector.

Visitor Spending on the Rise

International visitor spending is also forecasted to hit USD 2.1 trillion, surpassing the pre-pandemic levels recorded in 2019 by USD 164 billion. While this buoyant growth trend continues, the recovery isn’t uniform across all regions.

Challenges in Key Markets

Some major markets are witnessing slower growth. The United States, for example, remains behind in international visitor spending, with figures still under 2019 levels. Conversely, China has seen its spending exceed prior marks but faces a deceleration in growth as we approach 2025.

Saudi Arabia: A Rising Star in Tourism

Amid these global fluctuations, Saudi Arabia stands out as a beacon of growth. It is expected that the country’s travel and tourism sector will contribute approximately SAR 447.2 billion to the national economy in the current year, marking a historic high. This influx accounts for over 10% of the Kingdom’s GDP, where employment in this sector is anticipated to reach 2.7 million jobs.

Domestic and International Spending

The solid figures are propelled by both international and domestic tourism. Spending from inbound visitors is likely to approach SAR 200 billion, while domestic expenditures may hit a record SAR 162.5 billion. These statistics underscore Saudi Arabia’s burgeoning status on the global tourism stage, particularly as it aligns its initiatives under the Vision 2030 framework.

Leadership and Vision

Julia Simpson, the President & CEO of WTTC, praised the strides made by Saudi Arabia’s tourism sector, attributing this to the leadership of His Excellency Ahmed Al Khateeb. “The Kingdom is redefining what’s possible,” she commented, reflecting on the ambitious innovations expected to exceed the goals set forth in Vision 2030.

Broader Impact on the Middle East

The wider Middle East is also anticipated to thrive, with tourism contributing USD 367.3 billion to the regional economy and supporting 7.7 million jobs by 2025. International visitor spending here is projected to rise to nearly USD 194 billion, which is 24% above pre-pandemic levels.

Prospects Ahead

This upward trajectory not only strengthens the economies of individual countries but also enhances collaborative opportunities throughout the region. With a variety of transportation and travel service options becoming more appealing, the surge in tourists could bolster demand for transfer services, further benefiting platforms like GetTransfer.com.

Conclusion

The travel and tourism sector is set on an impressive growth path, with expectations for remarkable increases in spending and employment. Saudi Arabia, as a key player, showcases how strategic national initiatives can amplify economic contributions from tourism. Even with the focus shifting toward personal experiences and well-informed choices, platforms like GetTransfer.com remain integral in providing reliable transfer options and personalized services.

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