Saudi Arabia has reported a remarkable travel surplus of SR49.8 billion (approximately $13.28 billion) for the year 2024, marking its highest-ever annual surplus. This data, released by the Saudi Central Bank, reveals that the surplus surpassed the previous record of SR46 billion recorded in 2023, reflecting a year-on-year growth of around 8.3%.

As Zawya reported, the significant growth in the travel surplus can be attributed primarily to an increase in spending by international visitors to the Kingdom. In 2024, the total spending by inbound visitors reached a record SR153.6 billion, which is an increase from SR135 billion in 2023, illustrating a substantial rise of 13.8%.

Additionally, Saudi residents also increased their travel expenditures abroad. In 2024, Saudi travelers spent SR103.8 billion outside the Kingdom, up from SR88 billion the previous year, representing an 18% increase in outbound travel spending.