Global visitor spend set to soar to $2.1trn this year
The sector's total global economic contribution is set to reach $11.7 trillion this year, 10.3% of global GDP, while jobs supported by the sector are expected to rise by 14 million, reaching 371 million worldwide, more than the entire population of the US.
But while the sector is surging overall, momentum in some major economies is slowing. According to the research, the US, still the world's largest travel and tourism market, continues to lag, with international visitor spend trailing 2019 levels. In China, while international spending was above pre-pandemic levels last year, growth is expected to slow sharply in 2025.
Saudi Arabia Surges Ahead
Against this backdrop, Saudi Arabia is writing its own success story. WTTC's latest data shows travel and tourism is expected to inject SAR447.2 billion ($119.23 billion) into the economy this year - a new record and a bold statement of intent from one of the world's fastest-growing destinations.
Travel and tourism is set to contribute more than 10% of Saudi Arabia's GDP in 2025, with sector employment projected to reach an all-time high of 2.7 million.
This success is fuelled by impressive levels of international and domestic spending, with inbound visitor spending forecast to hit almost SAR200 billion this year, while domestic spending is also expected to soar to a record SAR162.5 billion, the WTTC report said.
Saudi Arabia is fast becoming a global tourism powerhouse.
Julia Simpson, WTTC President & CEO, said 'Thanks to the leadership of His Excellency Ahmed Al Khateeb, Saudi Arabia's Travel & Tourism sector is not just growing, it's thriving.
"The Kingdom is redefining what's possible, and will not only meet, but exceed the ambitions of Vision 2030.'
Middle East Growth
Across the wider region, the Middle East's travel and tourism is expected to contribute $367.3 billion to the regional economy, and support 7.7 million jobs this year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Biz Bahrain
27-07-2025
- Biz Bahrain
London Hosts the Gulf-British Arbitration Forum with Participation of Prominent International Experts
Dr. Kamal Al-Hamad, Secretary-General of the Gulf Cooperation Council Commercial Arbitration Centre (GCCCAC), inaugurated the Gulf-British Arbitration Forum held at the Arab-British Chamber of Commerce in the UK capital, London. The forum attracted significant attention, with over 100 distinguished leaders from the Gulf, Arab countries, and the United Kingdom, alongside a number of international legal, judicial, and commercial arbitration experts. The forum addressed several key topics, most notably international commercial arbitration, and introduced the upcoming Second Gulf Law and Arbitration Week, scheduled to be held in the Kingdom of Bahrain in January next year. The event served as a platform for knowledge exchange and the strengthening of legal cooperation among relevant institutions. Mr. Abdullah Al-Omair, Director General of International Agreements at the Saudi Ministry of Investment, delivered a keynote presentation highlighting the legal environment for investment in Saudi Arabia in light of the Ministry's strategies and Vision 2030. The audience praised the Kingdom's achievements in attracting foreign investment and fostering investor confidence. A delegation from the Supreme Judiciary Council of Qatar also participated, presenting the status of commercial courts and investment-related judicial structures in Qatar, with a particular focus on initiatives supporting and empowering women in the legal sector as part of the country's judicial system. On the sidelines of the forum, Dr. Kamal Al-Hamad held a series of coordination meetings with several UK arbitration institutions, accompanied by members of the GCCCAC Advisory Committee. These meetings included discussions on exchanging rosters of arbitrators and experts, as well as exploring cooperation mechanisms for training and certifying legal arbitrators and specialists. These visits are part of a broader series of international Gulf forums organized by the GCCCAC, aimed at enhancing engagement and experience exchange with leading legal and arbitration bodies worldwide. The series began in the United States in May, followed by the UK forum, and will continue in Paris this September, where meetings are scheduled with the International Chamber of Commerce (ICC) and Sorbonne University, under the patronage of the Arab-French Chamber of Commerce. The forum concluded with a special tribute to Queen Mary University of London, one of the UK's prestigious academic institutions. Dr. Peter Cameron, Professor of Law at the university, delivered a speech discussing specialized academic programs in legal training and the importance of preparing legal professionals to meet the evolving demands of international arbitration. It is worth noting that the Gulf Cooperation Council Commercial Arbitration Centre is an international regional arbitration body with legal personality, established by a resolution of the GCC heads of state during the 14th GCC Summit in Riyadh in 1993. The centre's operational framework was approved by all GCC Council of Ministers, with the aim of promoting arbitration as an independent system for resolving commercial and investment disputes. The Centre also works to train and certify arbitrators, experts, and case managers across various specialties through high-quality accreditation programs, thereby fostering a culture of justice and fairness in arbitration across the Gulf region.
Daily Tribune
26-07-2025
- Daily Tribune
Miknas: Bahrain's support places Lebanon back in Arab fold
TDT | Manama Businessman Akram Miknas has praised Bahrain for taking the lead in re-engaging with Lebanon, describing the recent state visit by Lebanese President General Joseph Aoun as a turning point in Gulf-Lebanon relations. Miknas, who chairs the Bahrain-based company Promosven, said the high-level meetings, particularly the one between His Majesty King Hamad bin Isa Al Khalifa and the Lebanese President, marked the most significant interaction between the two nations in decades. Economic Gateway 'Bahrain's support places Lebanon back in the Arab fold,' he said, adding that the Kingdom was the first to offer meaningful support to Lebanon after a period of instability and absence from the regional stage. According to Miknas, this move could position Bahrain as a gateway for Lebanon's re-entry into the GCC economy, with its advanced infrastructure and strong commercial networks. He urged a swift follow-up on the agreements signed during the visit. Connectivity Call Reinstating direct flights between Bahrain and Lebanon, he said, would be a vital step in boosting trade and tourism. He a l s o called for streamlining visa and residency procedures to help entrepreneurs and investors move more freely. Miknas highlighted that the Lebanese business community is ready to activate joint ventures and contribute to economic cooperation between the two countries. Skills & Sectors Pointing to areas of future collaboration, Miknas said private sector partnerships in fields like technology, Islamic finance, and infrastructure could be mutually beneficial. He noted that Lebanon's skilled workforce, particularly in AI and digital innovation, offers an opportunity for synergy with Bahrain's forward-looking economic plans. He also drew attention to the cultural bonds between the two countries, saying Lebanese entrepreneurs had long been welcomed in Bahrain due to shared values of openness and tolerance. Miknas concluded by underscoring the importance of economic diplomacy, adding that private sector involvement would be key to translating diplomatic goodwill into real progress.
Syyaha
15-07-2025
- Syyaha
FHS World announces first confirmed speakers for Middle East's leading hospitality investment summit
Dubai, UAE. 15 July 2025. The first 50 of a plethora of hospitality and tourism industry leaders have been confirmed as speakers at the Future Hospitality Summit – FHS World, taking place at Madinat Jumeirah in Dubai, 27-29 renowned experts and personalities across hospitality, tourism, media and education are speaking at the Middle East's leading investment summit, held under the overarching theme for 2025 of Where Vision Leads, Investment of the speakers can be found at with the list constantly updated as more sign up. Confirmed speakers include:• Abdullah Al Moosa, Founder & Chairman, A. A. Al Moosa Enterprises (ARENCO Group) – Winner of the 2025 FHS Lifetime Achievement Award• Stephen Sackur, Former Presenter, BBC HARDTalk• Thomas B. Meier, Chief Executive Officer, Jumeirah• Nick Candy, Chief Executive Officer, Candy Capital• Dr. Achim Schmitt, Dean, EHL Hospitality Business School• Professor Marc Lepere, Lead in ESG & Sustainability, Executive Education Department of Banking & Finance, King's Business School• Amit Arora, Chief Operating Officer, Arada• Stefano Saporetti, Director of Brand Diversification, Aston Martin• Hans Meyer, Co-Founder & Managing Director, Zoku• Daniel Thorniley, Economist & President, DT-Global Business Consulting • Eleonora Srugo, Licensed Associate Real Estate Broker & Star of Netflix's Selling the City Jonathan Worsley, Chairman of The Bench, organiser of FHS World, said: 'FHS World may be three months away, but the planning and organisation, which started as soon as last year's event finished, is in full swing. Our first speakers are confirmed, and hundreds of attendees have already signed up for the region's leading hospitality investment summit.'FHS World gets bigger, bolder and better every year, and we are proud to announce our first 50 speakers and rapidly-evolving agenda at this early stage. We look forward to welcoming back some of our regular speaker participants alongside industry leaders who will be joining us for the first time, when the global hospitality and tourism investment fraternity gathers in Dubai in October.'With an expected attendance of more than 1,600 delegates, FHS World 2025 will feature its usual highly-anticipated, action-packed agenda addressing key industry opportunities, challenges and trends across three stages, with additional workshop rooms and breakout around the event theme, Where Vision Leads, Investment Follows, the FHS World programme covers everything from investment to innovation, sustainability to staffing and technology to tourism trends, with keynote speeches, panel discussion, presentations and round table debates on the agenda. Follow FHS World for updates and year, FHS World will zoom in on global hospitality investment with a focus on projects, financing models and hotel performance. In addition, the country pavilions are back again for 2025 with, amongst others, China, Italy, Maldives and the Philippines showcasing their hospitality and tourism investment offerings. Also back by popular demand is the Branded Residences Forum, which takes a deep dive into the rapidly growing branded residences sector, with input from a host of global experts in the field.
