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"Saudi Arabia Tourism Report Q1 2013" Is Now Available At Fast Market Research

Fast Market Research recommends "Saudi Arabia Tourism Report Q1 2013" from Business Monitor International, now available

Published on 20 February 2013

Discover the World Of Judaica

by Bill Thompson


Boston, MA

The Saudi Arabia Tourism Report examines the long-term potential offered by the tourism industry, but highlights the potential downward pressure that regional uncertainty could have on arrival numbers as its political landscape changes. Furthermore, the country's strict entrance visa regulations also limit the sector's growth potential.

We hold to our growth forecast for the country but stress that continued unrest may cause tourists to give the entire region a wide berth. Tourist arrivals are forecast to increase by 7% to 17.3mn in 2013. We forecast the number of tourist arrivals to grow by an average of 8.5% a year through to the end of our forecast period in 2017. One of the main drivers for the tourism industry is religious tourism. Saudi Arabia is home to two of Islam's holiest cities, Mecca and Medina, and every year millions of Muslims go to Mecca for the Hajj, the largest annual pilgrimage in the world. Business travel is also a growing area, given Saudi Arabia's status as the world's largest oil exporter and its other large industries such as defence.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/536559_saudi_arabia_tourism_report_q1_2013.aspx?afid=201)

The hospitality sector looks set to grow in tandem with tourist arrivals. BMI forecasts that there will be about 113,000 hotel rooms in Saudi Arabia by 2017, with occupancy rates increasing to 54%. In recent years, a number of international chains opened their first hotels in the market, including Rotana, Hyatt Hotels & Resorts, Accor and Raffles Hotels & Resorts. Those already present in the market are expanding, with InterContinental Hotels Group (IHG), al-Hokair Group, Starwood Hotels & Resorts, Rezidor Hotel Group and Wyndham Hotel Group opening new hotels in 2010 and 2011.

The Saudi authorities have said they want to diversify away from dependence on oil, with the tourism industry one of the focal points. Government expenditure has focused on developing the religious tourism and business travel sectors in particular, and for this reason we forecast an increase in collective government expenditure (expenditure that cannot be assigned to a particular group of tourists) and individual government expenditure (which refers to investment in services with an identifiable individual customer) over the forecast period.

The government is also keen to develop its domestic tourism market in an effort to capture some of the capital spent by the millions of Saudi citizens that travel abroad each year. Saudi tourists mainly travel to other countries in the Middle East. Despite efforts to encourage more Saudis to holiday at home, we forecast the number of citizens travelling abroad will increase from 3.5mn in 2013 to 4.0mn in 2017.

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  • Bill Thompson
  • Fast Market Research, Inc.
  • PR Contact
  • Tel: +14134857001
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Posted 2013-02-20 17:05:00