Davos 2025: Saudi Arabia spotlights tourism’s critical role in driving global economic growth

At the 2025 World Economic Forum Annual Meeting in Davos, Saudi Arabia will emphasize the critical role of tourism in driving economic diversification. Saudi Tourism Minister Ahmed Al-Khateeb will attend as a member of the Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah. Minister Al-Khateeb will lead discussions on how tourism is essential for economic growth and prosperity.

Minister Al-Khateeb stated, "Tourism is a cornerstone of the global economy, and as we gather in Davos for the 2025 World Economic Forum Annual Meeting, it is crucial to acknowledge the industry's importance in discussions."

In the lead-up to Davos 2025, the World Economic Forum, in collaboration with the Saudi Ministry of Tourism and with Minister Al-Khateeb's expert input, released a new briefing document titled "The Future of Tourism: Embracing Sustainable and Inclusive Growth." This document explores the industry's transformative trends, destination readiness, and the importance of cross-sector collaboration, which will help drive key discussions on tourism at Davos 2025, including the role of tourism in building trust, scaling sustainable tourism, and the future of travel.

The document projects that the tourism industry will further recover, with spending expected to grow at an average annual rate of 7% over the next decade. Before the pandemic, the industry accounted for 10.4% of global gross domestic product (GDP) and 10% of global employment. In Saudi Arabia, the "Vision 2030" has played a significant role in the country's move away from oil dependency, with tourism growth in the first month of 2024 increasing by 73% compared to the same period in 2019.

Minister Al-Khateeb added, “I am honored to participate in the World Economic Forum Annual Meeting and highlight the potential of tourism as a driver for an inclusive global economic transformation through sustainability, innovation, and collaboration. Saudi Arabia remains committed to strengthening international cooperation and fostering the sustainable growth of the tourism sector.” The Saudi Ministry of Tourism also posted on Twitter that Minister Al-Khateeb will participate in #WEF25, emphasizing the importance of tourism in driving inclusive, sustainable growth, and showcasing Saudi Arabia's efforts in leveraging the transformative power of tourism to create lasting economic and social benefits.

Saudi Arabia has also released an investor white paper highlighting the "Vision 2030" initiative that is transforming the tourism sector. The document emphasizes the significant progress made in developing state-of-the-art tourism infrastructure, attracting international visitors, and providing unique cultural experiences. Saudi Arabia has rapidly become one of the fastest-growing tourist destinations in the world, already surpassing its established goal of 100 million tourists by 2030 in 2023. Due to its strategic location, Saudi Arabia is within a six-hour flight radius of 40% of the world's population and is poised to become a global tourism hub.

According to data from the United Nations Tourism Organization, Saudi Arabia ranked first among G20 countries in international tourist growth in 2023, with a 56% increase compared to 2019. According to the "World Tourism Barometer" report released in January 2024, tourism spending also increased by 37%. Minister Al-Khateeb stated that the growth momentum continues to accelerate, with the total number of visitors soaring to 60 million and spending reaching $40 billion in the first half of 2024.

The 2025 Davos Annual Meeting is a pivotal moment in the trajectory of global tourism and highlights Saudi Arabia's commitment to fostering cross-sector collaboration and driving economic growth through tourism. Minister Al-Khateeb's active participation will pave the way for new partnerships and initiatives aimed at leveraging tourism to promote global economic development. The Kingdom of Saudi Arabia remains committed to sharing its vision for a sustainable, inclusive, and prosperous future for tourism, ensuring its continued growth and innovation.

In addition to participating in the official Davos 2025 events, Minister Al-Khateeb will also represent the Kingdom of Saudi Arabia in dialogues aimed at promoting African development through investment, as well as on topics such as the role of women leaders in the global economy, strategies for scaling sustainable tourism, and will engage with key policymakers and influential leaders from the private and public sectors.

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