Spending of travelers coming to Saudi Arabia increased by 225% in the first quarter

<p style=";text-align:left;direction:ltr">Weather of Arabia - Balance of payments data issued by the Central Bank of Saudi Arabia showed that the spending of travelers coming to the Kingdom increased to $ 9.8 billion during the first quarter of 2023, an increase of 224.6% compared to the first quarter of 2022.</p><p style=";text-align:left;direction:ltr"></p><p style=";text-align:left;direction:ltr"> According to the data, the spending of travelers outside the Kingdom amounted to about $3.7 billion, an increase of 7.9% compared to the first quarter of 2022.</p><p style=";text-align:left;direction:ltr"></p><p style=";text-align:left;direction:ltr"> The spending of Saudis on travel abroad increased by 310% in the fourth quarter of 2022 to $7.16 billion, compared to the same quarter of 2021.</p><p style=";text-align:left;direction:ltr"></p><p style=";text-align:left;direction:ltr"> It is noteworthy that the data of the Saudi Central Bank, “SAMA”, showed that the bank’s assets increased last May to 1.872 trillion riyals, a monthly increase of 49.5 billion riyals, or 2.7%, from the previous April.</p><p style=";text-align:left;direction:ltr"></p><p style=";text-align:left;direction:ltr"> The monthly report of “Sama” indicated that “Sama’s assets” increased by 7.5 billion riyals last May, compared to 1.864 trillion riyals in the same month of the year 2022.</p>