Saudi Arabia Tourism Report Q2 2016
BMI View: An extensive travel and accommodation industry has built up around the Hajj pilgrimage, aswell as other religious pilgrimages, and Saudi Arabia's hotel sector offers a broad range of budget optionswith both domestic and international hotel groups well established in the market. The luxury travel sector isless developed, particularly when compared to nearby markets such as the United Arab Emirates. SaudiArabia is keen to broaden its tourism appeal as it seeks to lessen its heavy reliance upon oil revenues and anumber of extensive tourism developments are planned or underway, including significant investment intransport infrastructure and widespread marketing campaigns.
Key Updates and Forecasts
Saudi Arabia is keen to expand the tourism industry and the Saudi Commission for Tourism andAntiquities is targeting some 45.3 million tourism visitors by 2020. Our current growth estimates putarrivals in 2020 at 19.7mn, up from 15.6mn in 2016.
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