Saudi hospitality sector seen to reach $18.1 billion by 2016

A rise in the number of pilgrims visiting the Kingdom for Haj and Umrah, are boosting domestic tourism growth, with Saudi residents making 22.5 million overnight trips per annum. Tourism receipts for Hajj and Umrah currently account for around 3 percent of GDP and, according to tourism officials, the country gained a reported $16.5 billion from tourism in 2012, representing a 10 percent increase on the previous year.

The largest hospitality market in the GCC, Saudi Arabia also accounts for the bulk of international tourist arrivals, at 46 percent, Alpen Capital said in its GCC Hospitality Industry Report last October, representing a 50 percent year-on-year increase against 2011 figures.

“The Kingdom is investing heavily in it’s infrastructure as expansion plans for the new $7 billion Jeddah airport project move ahead, with the airport projecting annual passenger volume of up to 80 million passengers within the next two decades,” said Mark Walsh, Portfolio Director, Reed Travel Exhibitions, organizer of Arabian Travel Market.

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