Tourist Ministry records SAR 22.8 bln surplus from travel payment balance in Q1

Logo design of Ministry of Tourism

The Ministry of Tourism mentioned that the Kingdom attained a SAR 22.8 billion surplus from the balance of travel payments in the very first quarter of 2023.

In a declaration, the ministry included that this was supported by an almost 225% rise in incoming tourist earnings compared to the very first quarter of 2022, bringing incomes to practically SAR 37 billion.

Outbound tourist expenditures totaled up to SAR 14 billion in the three-month duration, compared to SAR 12.9 billion a year previously.

This shows the efforts made by the Kingdom to boost the tourist sector's contribution to the nationwide financial development, the ministry stated.