Latest news with #internationalspending
Hospitality Net
26-05-2025
- Business
- Hospitality Net
Global Travel & Tourism to Reach New Heights in 2025
Riyadh, Saudi Arabia - The World Travel & Tourism Council's (WTTC) is forecasting that international visitor spending will break all previous records this year, reaching an unprecedented $2.1TN - $164BN more than the 2019 peak. The sector's total global economic contribution is set to reach $11.7TN this year, 10.3% of global GDP, while jobs supported by the sector are expected to rise by 14MN, reaching 371MN worldwide, more than the entire population of the U.S. But while the sector is surging overall, momentum in some major economies is slowing. According to the research, the U.S., still the world's largest Travel & 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 & Tourism is expected to inject SAR 447.2BN into the economy this year - a new record and a bold statement of intent from one of the world's fastest-growing destinations. Travel & 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 2.7MN. This success is fuelled by impressive levels of international and domestic spending, with inbound visitor spending forecast to hit almost SAR 200BN this year, whilst domestic spending is also expected to soar to a record SAR 162.5BN. Saudi Arabia is fast becoming a global tourism powerhouse. A Sector Transformed 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. Julia Simpson, WTTC President & CEO Middle East Growth Across the wider region, the Middle East's Travel & Tourism is expected to contribute $367.3BN to the regional economy, and support 7.7MN jobs this year. International visitor spending is set to reach almost $194BN this year, 24% above 2019 levels, whilst spending from domestic travellers is expected to hit almost $113BN. For more information and to access the full factsheet, including WTTC's latest Environmental Social Research (ESR), please visit WTTC's Research Hub. About WTTC The World Travel & Tourism Council (WTTC) represents the global travel & tourism private sector. Members include 200 CEOs, Chairs and Presidents of the world's leading travel & tourism companies from all geographies covering all industries. For more than 30 years, WTTC has been committed to raising the awareness of governments and the public of the economic and social significance of the travel & tourism sector. View source
Gulf Business
23-05-2025
- Business
- Gulf Business
International visitor spend in Middle East to hit $194bn in 2025: WTTC
Image: Getty Images/ For illustrative purposes Saudi Arabia's booming tourism sector is poised to deliver a record-breaking SAR447.2bn economic boost this year, as global travel and tourism reach historic highs, according to the latest data from the World Travel & Tourism Council ( The WTTC forecasts that international visitor spending globally will hit an all-time high of $2.1tn in 2025 — surpassing pre-pandemic levels by $164bn. This growth is part of a broader global surge, with the sector's total economic contribution expected to reach $11.7tn, making up 10.3 per cent of the world's GDP. Travel and tourism-related employment is also set to climb by 14 million jobs this year, reaching a total of 371 million — more than the entire population of the US. A mixed global picture Despite the strong global performance, some major economies are showing signs of a slowdown. The US, while still the largest travel and tourism market globally, continues to fall short of its 2019 international visitor spending levels. In China, although international spending exceeded pre-pandemic levels last year, growth is projected to taper off sharply in 2025. Saudi Arabia's tourism boom In contrast, Saudi Arabia stands out as a global success story. The kingdom's travel and tourism sector is on track to contribute more than 10 per cent of national GDP by 2025. Employment in the sector is projected to hit a record 2.7 million jobs, underscoring the strength of Saudi Arabia's ambitious tourism strategy. Read: Driving this growth is a powerful combination of rising international and domestic spending. Inbound visitor spending is forecast to reach nearly SAR200bn this year, while domestic tourism spending is expected to hit an unprecedented SAR162.5bn. Julia Simpson, WTTC president and CEO, said: 'The kingdom is redefining what's possible, and will not only meet, but exceed the ambitions of Vision 2030.' Regional momentum The broader Middle East region is also benefiting from this surge. Travel and tourism in the region is projected to contribute $367.3bn to the regional economy and support 7.7 million jobs in 2025. International visitor spending across the Middle East is expected to reach nearly $194bn — 24 per cent above 2019 levels — while domestic spending is forecast to hit almost $113bn. As Saudi Arabia cements its status as a global tourism powerhouse, the kingdom's record-breaking year reflects a larger regional transformation driven by strategic investment and visionary leadership.
