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

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

In a statement, the ministry added that this was supported by a nearly 225% surge in inbound tourism revenues compared to the first quarter of 2022, bringing revenues to almost SAR 37 billion.

Outgoing tourism expenses amounted to SAR 14 billion in the three-month period, compared to SAR 12.9 billion a year earlier.

This reflects the efforts made by the Kingdom to enhance the tourism sector’s contribution to the national economic growth, the ministry said.

Source: Argaam