Saudi Arabia experienced a significant increase in spending by foreign visitors in the first quarter of this year, with a growth rate of 22.9% compared to the same period in 2023. The total spending by foreign visitors exceeded 45 billion riyals ($11.99 billion) during this time. Additionally, there was a surplus in the travel item, estimated at 24 billion riyals, with a growth rate of over 46% compared to the first quarter of 2023.
According to initial data from the Saudi Central Bank on the balance of payments, Saudi travelers abroad spent approximately 21 billion riyals during the same period. This increase in spending by visitors coming to the Kingdom is part of the tourism sector’s ongoing success in Saudi Arabia. The Kingdom was ranked first on the United Nations Tourism List for the growth rate of international tourists and tourism revenues in 2023 compared to 2019.
In other news, various services and businesses were highlighted on WICZ, including a utility bill negotiation/auditing service, financial optimization tools for recent layoffs, and a top driving school in Switzerland. Additionally, there were announcements for new products, services, and events in different industries such as email marketing, vacation rentals, stress reduction methods, construction projects, and cultural events. The diverse range of offerings reflects the dynamic nature of the business landscape showcased on WICZ.