Prepare to embark on an unparalleled journey into the world of travel and tourism as the 14th annual edition of the Riyadh Travel Fair unfolds from May 27th to 29th, 2024, in the vibrant Saudi capital of Riyadh. Recognized as one of the leading travel events in the GCC countries, the fair promises to deliver an extraordinary showcase of travel and tourism offerings from across the globe.
As the tourism industry rebounds and evolves, the Riyadh Travel Fair stands as a beacon of hope and opportunity for travel enthusiasts, industry professionals, and investors alike. Firmly established as one of the largest and most influential travel and tourism exhibitions in the region, the fair brings together leading companies from Saudi Arabia, the GCC, and beyond, serving as a dynamic platform for networking, business transactions, and the exchange of innovative ideas within the tourism sector.
Anticipate a diverse array of exhibitors at the upcoming fair, spanning from tourist promotion authorities to travel agencies, hotel chains, airlines, cruise lines, and adventure tourism operators. With over 200 exhibitors and co-exhibitors expected to participate, attendees can look forward to discovering an extensive range of products and services catering to every aspect of travel and tourism.
Saudi Arabia has emerged as a magnet for private sector investment, attracting approximately $13 billion to bolster its burgeoning tourism industry in alignment with its ambitious vision to position itself as a premier travel destination.
Princess Haifa M. Al Saud, Saudi Arabia’s vice minister for tourism, foresees that these investments will facilitate the addition of 150,000 to 200,000 hotel rooms within the next two years. With a keen eye on economic growth, the kingdom aims to elevate tourism revenue to $85 billion this year, a significant increase from the $66 billion recorded in 2023.
“Our goal is to amplify the current GDP contribution from 4.5% to 10% by 2030,” Princess Haifa stated underscoring the exponential trajectory Saudi Arabia has embarked on since opening its doors to tourism, starting from a modest 3.2% contribution.
Central to this vision is Crown Prince Mohammed bin Salman’s strategic blueprint for economic diversification, steering the nation toward a future less reliant on oil revenue. With aspirations to welcome 150 million tourists annually by 2030, Saudi Arabia is embarking on a transformative journey that encompasses various industries, including sports and technology. Noteworthy endeavours such as the monumental Qiddiya entertainment city and a lavish investment spree in football underscore the kingdom’s commitment to enhancing its global allure as a prime travel destination, further solidified by its sole bid for the 2034 World Cup.
In 2023, Saudi Arabia recorded a remarkable influx of 100 million tourists, predominantly comprising domestic travellers. International visitors, totalling approximately 27 million, were primarily drawn for religious or business purposes. While leisure tourism remains a nascent segment, ongoing infrastructure projects are poised to unlock its vast potential.
Looking ahead, the government aims to catalyze up to $80 billion in private-sector investment in tourism by 2030, accompanied by a substantial commitment of approximately $800 billion in public expenditure over the next decade. With a steadfast focus on sustainable growth and development, Saudi Arabia is charting a course toward a future where tourism serves as a cornerstone of its diversified economy, inviting travellers from around the globe to experience its rich culture, heritage, and hospitality.
Mr. Bander Al Gryni, General Manager of ASAS Exhibitions, the organizer of the Riyadh Travel Fair, expressed anticipation for this year’s event, stating, “Last year, the Riyadh Travel Fair featured more than 200 exhibitors from the GCC countries and other parts of the globe, with visitor attendance at 23,783 and 8,321 Trade Visitors over 3 days. That was an increase of 20% compared to the 2023 edition. This year, we anticipate exhibitors to surpass 250, with expected visitor numbers exceeding 30,000.”
Al Gryni emphasized the consistently positive growth witnessed by RTF, attributing it to the increasing travel trends among Saudi nationals, both domestically and overseas. He highlighted the significant opportunities the fair provides for domestic and overseas destinations, hospitality service providers, and other tourism-related businesses to directly engage with the kingdom’s leading travel professionals and travellers.
The primary objective of the Riyadh Travel Fair is to promote investment in the tourism sector within Saudi Arabia and the broader GCC region. With tourism spending in Saudi Arabia surging by 52 per cent in 2021, reaching SR95.6 billion, the fair presents a compelling opportunity for investors to tap into this burgeoning market. Additionally, Saudi Arabia’s top global ranking in terms of tourist expenditure underscores the country’s potential as a tourism hub.
Beyond its economic significance, the Riyadh Travel Fair serves as a platform for knowledge-sharing and collaboration. Attendees can expect to gain insights into the latest industry trends, explore new market opportunities, and forge valuable partnerships that drive growth and sustainability in the tourism sector.
Tourism India will serve as the official travel media partner of the Riyadh Travel Fair 2024, with organizers partnering with the Association of Arab Tour Operators of India (AATOI) to market the event in the South Asian region, especially in India. Mark your calendars for May 27th to 29th, 2024, and be part of the Riyadh Travel Fair – a journey into the world of travel and tourism. This unparalleled event celebrates diversity, innovation, and the boundless spirit of exploration. Let’s shape the future of tourism and unlock endless possibilities for travellers worldwide together.
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