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Saudi Arabia Hospitality Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 48.6 Billion
Market Forecast in 2033: USD 109.6 Billion
Market Growth Rate: 9.5% (2025-2033)
The Saudi Arabia hospitality market size reached USD 48.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 109.6 Billion by 2033, exhibiting a growth rate (CAGR) of 9.5% during 2025-2033.
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Saudi Arabia Hospitality Market Trends:
The market in Saudi Arabia is primarily driven by the increasing influx of international tourists, particularly for religious pilgrimages to Mecca and Medina, which are central to the Kingdom's tourism strategy. In line with this, the augmenting development of luxury hotels and resorts tailored to affluent travelers is propelling the market. Moreover, the rising government investment in Vision 2030 initiatives, aimed at diversifying the economy and promoting tourism, is acting as a significant factor fueling the market's growth.
Additionally, the introduction of new entertainment hubs, such as Qiddiya and NEOM, is facilitating the market by attracting leisure tourists. Furthermore, improving transportation infrastructure, including expanding airports and railways, is significantly enhancing accessibility for travellers, bolstering the market. Besides, increasing collaborations with global hotel chains are elevating service standards and broadening consumer options. The market is also benefitting from the introduction of e-visas, simplifying the process for international visitors and encouraging travel.
Saudi Arabia Hospitality Market Scope & Growth Analysis:
The scope of the market is broadening significantly due to several transformative factors as per the market analysis. Expanding economic diversification policies under Vision 2030 are justifying large-scale investments in tourism infrastructure, enabling long-term market potential. Additionally, the growing focus on eco-tourism and sustainable hospitality practices is catering to environmentally conscious travellers, strengthening the market.
Furthermore, the region's unique cultural and religious significance is fostering diverse tourism offerings that appeal to global audiences. Besides, the rising trend of digitalization in the hospitality sector, including contactless check-ins and AI-driven customer service, is modernizing the industry and attracting tech-savvy consumers. Moreover, the Kingdom's initiatives to host international events such as Formula 1 and global expos are creating a surge in demand for accommodation and services.
The hospitality market is also expanding with the development of specialized tourism segments, including wellness retreats and adventure tourism. As per the market analysis, these factors are collectively fostering a robust outlook for the Saudi Arabian hospitality market, ensuring sustained progress and innovation.
Saudi Arabia Hospitality Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Saudi Arabia hospitality market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Type Insights:
Chain Hotels
Independent Hotels
Segment Insights:
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid-scale Hotels
Luxury Hotels
Regional Insights:
Northern and Central Region
Western Region
Eastern Region
Southern Region
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Key highlights of the Report:
Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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