Get ready for some exciting newsthe Saudi Arabia travel & tourism market is predicted to boom over the next five years, from 2024 to 2028! What's fueling this growth? Well, people are earning more, and both international and local tourists are keen on religious travel. Sure, the recent pandemic hit the market hard, but experts are forecasting a steady CAGR in the coming years. Remember when COVID-19 put a stop to almost all air travel, including in Saudi Arabia? That really impacted the tourism scene. But now, with vaccinations and things opening back up, the country is set to gain big from travel and tourism again. Plus, it's becoming more affordable to fly, and the Kingdom's incredible spots are becoming easier to reach, drawing in more and more tourists. And let's not forget all the spending on delicious food, memorable souvenirs, and stylish clothing - all contributing to the market's expected growth over the next five years.
Want to know how the travel and tourism market in Saudi Arabia is shaping up? Well, it's being sliced and diced in a few wayswhat's actually being sold (product/service), the type of travel, why folks are visiting, who the tourists are, where in Saudi Arabia they're going, and who the big players are (competitive landscape). Looking at those product/service offerings, you've got ticket reservations, hotel bookings, holiday/tour packages, travel insurance, and a few other things. Seems like ticket reservations are set to grab the biggest piece of the pie, mainly because more and more people are visiting. Plus, with cheaper flights and easier ways to plan trips, booking those tickets is getting super popular. Don't forget business travel! As global companies expand, it's giving the market a boost over the next five years. Now, hotel bookings? Expect them to jump in the next five years too, thanks to all those international tourists coming for religious reasons. Places like the Mosque of Mecca and the Kaaba are HUGE draws, not just for sightseeing, but for prayer as well. All those amazing sites are bringing in the crowds and helping the market grow for the foreseeable future.
Think of the Saudi Arabia travel scene – you've got some big names like Akbar Travels and Tourism, Almosafer, Saudi Arabian Airlines (SAUDIA), and Expedia in the mix, plus others like Saudi Arabia Tours, HelloTravel, Make My Trip, Yatra, Ease My Trip, and Travelocity. These established players already have a strong foothold. Now, with tech changing everything, it's clear that investing in cool new services – like awesome tour packages and super easy ticket booking – could really boost the market for everyone. So, if newcomers focus on research and development to give customers what they want, they could build up their brand too. And of course, we'll likely see more mergers, acquisitions, new travel options, and just plain better service as everyone tries to stay ahead.
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) |
