Saudi Arabia Hospitality Market Size to Surpass USD 109.6 Billion by 2033 | With a 9.5% CAGR

Saudi Arabia Hospitality Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 9.5% (2025-2033)

Tourism is booming, and new development projects are taking off. As a result, the sector is growing quickly. Expanding infrastructure and international investments are shaping a dynamic and thriving landscape. According to the latest report by IMARC Group, the Saudi Arabia hospitality market size was valued at USD 48.6 billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 109.6 billion by 2033, exhibiting a CAGR of 9.5% from 2025-2033.

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Saudi Arabia Hospitality Trends and Drivers:

The Saudi Arabia hospitality market is changing fast. The goal is to diversify the economy and enhance tourism. Luxury and mid-scale hotels are expanding quickly. You can see this trend in big cities like Riyadh, Jeddah, and AlUla, a popular tourist spot. International hotel chains are teaming up with local developers. This helps them serve business and leisure travelers better. There is a rising demand for quality places to stay. Religious tourism is growing, especially since visa rules for Umrah pilgrims have relaxed. The government focuses on hosting global events. This includes the FIFA World Cup 2034 and the annual Riyadh Season. These efforts have made Saudi Arabia a top choice for big gatherings. Sustainability is a key focus now. Hotels are using eco-friendly practices to match the Kingdom's green initiatives. These changes enhance the guest experience. They also create profitable opportunities for investors and stakeholders in hospitality.

This change helps meet the growing needs of today travelers. Hotels are using new tech to stay competitive. They have AI chatbots for easy bookings. Plus, smart room features boost comfort and convenience. An increasing number of people desire experiences that are unique and culturally rich. Properties are now offering local tours, traditional Saudi food, and heritage-themed stays. Staycations and domestic tourism are growing fast. The pandemic boosted this trend. It keeps occupancy rates high, especially on weekends and holidays. The government is investing in infrastructure. This includes new airports and metro systems. These projects improve accessibility and increase visitor numbers. Saudi Arabia is opening its doors to the world. The hospitality industry is ready for great growth. It blends tradition with modern elements. This creates a warm and lively vibe for all guests.

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Saudi Arabia Hospitality Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Type:

● Chain Hotels
● Independent Hotels

Segment Insights:

● Service Apartments
● Budget and Economy Hotels
● Mid and Upper Mid-scale Hotels
● Luxury Hotels

Regional Analysis:

● Northern and Central Region
● Western Region
● Eastern Region
● Southern Region

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Competitive Landscape:

The competitive landscape of the industry has also been examined, along with the profiles of the key players.

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 part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers create a lasting impact. The company provides 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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This release was published on openPR.