A High-Growth Hub for Hospitality, Tourism & F&B
Saudi Arabia, the largest country in the Arabian Peninsula, is rapidly becoming a global center for hospitality, tourism, and foodservice. With a population of 34.4 million and a median age of 29, the Kingdom offers a youthful, high-potential consumer market.
Under the ambitious Vision 2030 initiative, Saudi Arabia is diversifying its economy, investing over $800 billion into tourism, infrastructure, and economic diversification—creating powerful opportunities for global businesses.
Key Market Highlights
Rising food expenditure forecasted to reach $94.7 billion by 2030.
Largest consumer market in the GCC, with 51% of total food retail sales.
GCC halal food market projected to grow to $88.7 billion by 2033, driven by ready-to-eat demand and digital platforms.
Strong government support through Vision 2030, offering investment incentives and business-friendly reforms.
$37.6 billion in tourism spending recorded in 2023 – a 44% YoY increase.
Nearly 60 million tourists visited by mid-2024, reinforcing Saudi Arabia’s global tourism rise.
Over 100 million visitors in 2023, surpassing Vision 2030 goals seven years early.
New target set: 150 million annual visitors by 2030, positioning Saudi Arabia as a leading international tourism hub.
