Saudi Arabia Hospitality Market Size to Worth 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)

The Kingdom hospitality sector is growing fast. This vibrant landscape offers many new opportunities. This overview delves into the key trends shaping its exciting future. 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:

Saudi Arabia hospitality market is changing fast. This shift is thanks to the Vision 2030 initiative. It seeks to diversify the economy and increase tourism. A key trend is the fast growth of luxury and mid-scale hotels. This is especially true in large cities like Riyadh and Jeddah, as well as the new tourist spot, NEOM. International hotel chains are teaming up with local investors. They want to meet the rising need for quality places to stay. This demand comes from both business and leisure travelers. Religious tourism is growing. Millions of pilgrims visit Mecca and Medina each year. This trend remains key to the hospitality industry. The government is focusing more on secular tourists. They are putting money into major entertainment projects. These include the Red Sea Development and Qiddiya. This aims to attract visitors from around the world. Hotels are changing how guests experience their stay. They now use AI services, contactless check-ins, and smart rooms. Sustainability is key.

Saudi Arabia hospitality market is trending toward personalized and experiential travel. This shows how consumer preferences are changing. Travelers want more than just standard options. They crave unique cultural experiences. This shift pushes hotels to create local activities. Examples include desert safaris, traditional Saudi dining, and heritage tours. The "bleisure" trend is growing. It mixes business and leisure travel. This has created a need for hybrid places to stay. These accommodations provide amenities suitable for work and facilities for leisure. Domestic tourism is growing. Government campaigns like "Saudi Summer" help this trend. So, hotels are now offering special packages and entertainment for local families. The market is seeing a rise in short-term rental platforms. On the operational side, Saudization is urging hospitality businesses to hire local talent. However, they still face challenges in training and keeping skilled workers. The kingdom wants to be a global leader in hospitality.

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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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Phone Number: +1-631-791-1145

This release was published on openPR.