Tourism

An increase in personal disposable income is expected to drive growth

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DUBLIN, 28 June 2022 (GLOBE NEWSWIRE) — Saudi Arabia Travel & Tourism Market by Product/Service (Ticket Bookings, Hotel Bookings, Travel/Travel Packages, Travel Insurance, Other), By Type, By Purpose Report Added ” Visit, by tourist profile, by region, competition, forecast and opportunities, 2027 ResearchAndMarkets.com sentence.

The Saudi Arabia travel and tourism market is forecast to grow at a tremendous pace during the forecast period. The growth can be attributed to the growing number of initiatives by the Saudi government to encourage tourism in the country through the Saudi Vision 2030 project.

The Kingdom has planned an investment of US$810 billion in culture, recreation and entertainment over the next decade. The strategy has greatly contributed to boosting the country’s attractiveness as a tourist destination, and the kingdom plans to make progress towards its target of 100 million visitors by 2030.

There is an increased focus on creating an entirely new hospitality landscape in the country through the launch of giga projects across the Kingdom and a number of large-scale entertainment projects on the west coast. The Amaala Project, Qiddiya Project, Red Sea Project and other similar projects are expected to promote the heritage of Saudi Arabia and thus contribute to the growth of the Saudi Arabia travel and tourism market.

Religious travel by national and international visitors, as well as increased personal disposable income, is expected to boost the travel and tourism market in Saudi Arabia. The growing availability of air travel and rising tourist spending on food, souvenirs, clothing, etc. is expected to drive the growth of the travel and tourism market in Saudi Arabia over the next five years.

Purpose of the study:

  • To analyze the historical growth in the size of the Saudi Arabia travel and tourism market from 2017 to 2021.

  • Estimate and forecast the Saudi Arabia travel and tourism market size from 2022 to 2027 and the growth rate to 2027.

  • Classify and forecast the Saudi Arabia travel and tourism market based on product/service offering, type, purpose of visit, tourism profile, competitive landscape and regional distribution.

  • Determine the dominant region or segment in the Saudi Arabia travel and tourism market.

  • To identify the drivers and challenges for the Saudi Arabia travel and tourism market.

  • Study competitive developments such as expansions, new product launches, M&A, etc. in the Saudi Arabia travel and tourism market.

  • To identify and analyze the profile of the leading players operating in the travel and tourism market in Saudi Arabia.

  • To identify the key sustainable strategies adopted by the travel and tourism market players in Saudi Arabia.

Key target audience:

  • Travel and tourism providers, end users and other stakeholders

  • Distributors and suppliers of related products and services

  • Organizations, forums and alliances related to travel and…

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