Saudi Arabia travel & tourism market is anticipated to show robust growth in the upcoming five years, 2024-2028. The market growth can be attributed to rising disposable income and religious traveling by the international as well as national tourists. Although the market was drastically affected due to the recent pandemic situation, the market is expected to grow with a stable CAGR in the upcoming five years. In the light of the COVID-19 spread, various countries, including the Kingdom of Saudi Arabia, halted the incoming and outgoing air travels, and that affected the travel and tourism industry in the country. With the recent advancements of vaccination and recoveries from the lockdown, the country is bound to benefit from the travel and tourism sector. Moreover, the growing affordability of airline travel and improvement in the accessibility of the exotic locations of the country are alluring more tourists in the country. Along with these mentioned factors, the expenditures by the tourists toward food, souvenirs, and clothing are driving the growth of the market in the next five years.
The Saudi Arabia travel & tourism market is segmented on the basis of product/ service offering, type, the purpose of visit, tourist profile, regional distribution, and competitional landscape. Based on product/ service offerings, the market is further fragmented into ticket reservations, hotel booking, holiday/tour packages, travel insurance, and others. Ticket reservation is anticipated to hold the largest shares of the market and assert its dominance over other segments on the grounds of the rising number of tourists. Moreover, with cheaper air travel and more convenient tour planning, ticket reservations are increasing rapidly. Also, the business travels are increasing due to expansion of global companies is aiding to the growth of the market in the next five years. Hotel bookings are expected to register significant growth in the upcoming five years on account of international tourists' visits to the country for their religious beliefs. Religious pilgrimage like Mosque of Mecca, Kaaba, etc., is a major tourist attraction for visits as well as for the prayer offerings. The presence of these tourist attractions is attracting more tourists to the country and aiding the growth of the market in the next five years.
A partial list of market players in the Saudi Arabia travel & tourism market includes Akbar Travels and Tourism, Almosafer, Saudi Arabia, Saudi Arabian Airlines (SAUDIA), Saudi Arabia Tours, HelloTravel, Make My Trip, Yatra, Expedia, Ease My Trip, Travelocity, among others. These market players hold larger shares of the market than the new market players. With the advancement of technology, it is appropriate to say that the effective research and development of technologically advanced services like better tour packages, convenient ticket booking processes would support the market growth and benefit the market players as well as the consumers. New market players may focus on research and development to provide services that satisfy the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers and acquisitions, new product developments, and better service provisions.
Objective of the Study
- To analyze the historical growth of the market size of Saudi Arabia travel & tourism market from 2018 to 2021.
- To estimate and forecast the market size of Saudi Arabia travel & tourism market from 2022 to 2028 and growth rate until 2028.
- To classify and forecast Saudi Arabia travel & tourism market based on product/ service offering, type, purpose of visit, tourist profile, competitional landscape, and regional distribution.
- To identify dominant region or segment in the Saudi Arabia travel & tourism market.
- To identify drivers and challenges for Saudi Arabia travel & tourism market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia travel & tourism market.
- To identify and analyze the profile of leading players operating in Saudi Arabia travel & tourism market.
- To identify key sustainable strategies adopted by market players in Saudi Arabia travel & tourism market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service provider, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Saudi Arabia
Key Target Audience
- Travel & tourisms providers, end users, and other stakeholders
- Distributers and suppliers of the related products and services
- Organizations, forums, and alliances related to travel & tourisms
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2022 |
| Historical Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Product/ Service Offering · Type · Purpose of Visit · Tourist Profile |
| Regional scope | Western Region, Northern and Central Region, Eastern Region, Southern Region |
| Key companies profiled | Akbar Travels and Tourism, Almosafer, Saudi Arabia, Saudi Arabian Airlines (SAUDIA), Saudi Arabia Tours, HelloTravel, Make My Trip, Yatra, Expedia, Ease My Trip, Travelocity |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
