8 Years of Record Growth: AstroLabs Launches Sector Guidebook on Saudi Tourism to Explore Untapped Opportunities

AstroLabs, the Gulf’s leading business expansion platform, is pleased to announce the launch of a comprehensive guidebook that shines a light on the thriving Saudi tourism industry and the Kingdom’s ascendancy as a global tourist destination.

In the following years since the launch of Saudi Arabia’s Vision 2030, the Kingdom’s tourism industry has seen phenomenal development fueled primarily by the expansion of diverse types and categories of tourism, causing an upsurge in international visits. The marked progress is characterised by ambitious goals and significant milestones, such as reaching the initial Vision 2030 target of welcoming 100+ million visitors in 2023, with plans to accommodate 150 million visits annually by the end of the decade.

The guidebook, titled “Inside the Kingdom’s Tourism Draw,” offers a nuanced understanding of the immense potential of tourism to foster economic growth and drive the Kingdom’s diversification, detailing how the sector has fared over the past eight years.

By leveraging its position as the leading business expansion platform in the Gulf, AstroLabs has analyzed first-hand sector knowledge for high-growth international and regional businesses that are setting their sights on the tourism industry in Saudi Arabia. “Inside the Kingdom’s Tourism Draw” serves as a strategic and practical compass for international and regional businesses looking to capture the untapped opportunities that the Saudi travel and tourism industry has to offer, including in giga projects such as ROSHN, Diriyah Gate, AlUla and those associated with global events such as Riyadh Expo 2030.

“This guidebook, one of the most detailed analysis of the Saudi tourism market, reflects our deep commitment to support the continued development of thriving Saudi tourism as envisioned in Vision 2030 and offers global and regional companies a strong, well-defined roadmap for opportunities that align with the market’s needs,” remarked Joe Kobrianos, Chief Strategy Officer at AstroLabs.

Reflecting on this, Kobrianos added, “Over the course of this sector’s growth so far, Saudi Arabia has welcomed over 606 million tourists since 2016, with 2023 hitting record-breaking numbers, resulting in a 68% increase ever since the rollout of the Vision 2030 – this rapid development has pushed the Kingdom to diversify its economy further, attracting an influx of tourism-focused companies entering Saudi’s market.”

Moreover, it provides a comprehensive analysis and detailed insights on key market dynamics and the unique trends driving its record growth while identifying investment opportunities that exist and are emerging within the tourism industry, as well as highlighting the increased influx of tourism-focused firms seeking to establish a robust footprint in the Kingdom.