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

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.

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.

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.

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.

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.