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In 2024, Saudi Arabia's tourism sector has experienced a strong revival, demonstrating significant achievements as a key pillar in the country's economic diversification strategy. According to the latest data from the Saudi Central Bank, tourist spending in the first three months of this year grew by 23% year-on-year, reaching 45 billion Riyals, approximately $12 billion USD. Simultaneously, the tourism market's international balance of payments surplus also saw significant growth, reaching 24 billion Riyals, a 46% increase from the same period last year.

These figures not only highlight the vitality and potential of Saudi Arabia's tourism industry but also lay a solid foundation for achieving its Vision 2030. The Vision aims to transform Saudi Arabia's economy from oil dependency to a diversified one, with tourism playing a crucial role in driving economic growth and employment through increased tourism revenue and international visitor numbers.

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According to the latest Travel & Tourism Competitiveness Index 2024 by the World Economic Forum, the Middle East region has excelled in the rate of international tourist recovery, with Saudi Arabia rising in the rankings from 50th place in 2019 to 41st place in 2024. This improvement is attributed to Saudi government's continuous investments in tourism and cultural attractions, as well as increased international connectivity due to global flight resumptions.

Saudi Arabia's cultural sector is also experiencing significant advancements, with frequent art exhibitions, a thriving entertainment industry, and active participation in global events such as the Oscars and Cannes Film Festival, significantly enhancing Saudi Arabia's influence and visibility in the global cultural arena.

Earlier this year, the United Nations World Tourism Organization (UNWTO) highly praised Saudi Arabia's innovative practices in tourism, noting that Saudi Arabia has already surpassed its goal of attracting 100 million tourists by 2030. Saudi Minister of Tourism Ahmed Al-Khateeb announced plans to further elevate these goals, aiming to attract 150 million tourists by the end of the century, demonstrating Saudi Arabia's ambitious plans for sustainable tourism development.

To further stimulate tourism development, the Saudi government has strengthened regulatory measures by introducing a new "Visit Investor" visa scheme, requiring approval from Saudi investment and diplomatic sectors. This initiative aims to attract more international investors and high-end tourists to Saudi Arabia, promoting the sustainable prosperity and growth of the tourism industry.