Saudi Arabia Hospitality Market Size to Surpass $109.6B by 2033: At a CAGR of 9.5%

Saudi Arabia Hospitality Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 9.5% (2025-2033)

The hospitality sector is booming with mega projects, religious tourism, and entertainment expansion under Vision 2030. International hotel chains and luxury brands are increasing their footprint. 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 Industry Trends and Drive:

Tourism diversification and events, as well as cultural events, bolster the services provided by the Hospitality Market while luxury hotels, resorts, and low-budget hotels continue to expand in cities like Riyadh, Jeddah, and AlUla. Smart hotels with focuses on relevant technology, specifically AI-focused services and items such as contactless check-ins, attract tourists that appreciate an enhanced, seamless experience, and can be credited with boosting tourist numbers. Expanding the means of entry, this work is being done by way of the digital booking engines customers go to identify when traveling, Booking.com, for instance, which are really just conduits amongst a range of factors. The fast-moving pace, combined with the perceived's crackability', afford more tourist convenience, people travel by car without collecting luggage. Influencers contribute to the travel patterns too, promoting unique stays, but are buoyed by expansive social media that allow Saudi Arabia's tourism narrative to grow. Investment and innovation into eco-friendly regard for design as well as training local employees to provide guest experience, only bolster Saudi Arabia along the global tourism pathway, as does the safety rationale.

Events like conferences and religious tourism shape the Saudi Arabia Hospitality Market favourably, while serviced apartments and MICE venues proliferate in metropolitan dual function areas. Wellness-oriented resorts with a spa had some leverage off established health trends that could encourage tourism, hotel stay, and occupancy, such as through government tourism promotionting initiatives. The Saudi Arabia Hospitality Market adopted sustainable operating practices like water conservation. While quality tourism and hospitality staff is difficult to secure, shortages posed by skill base transition, digitilization, and 'working from home' settings led to reductions in tourism service quality. Increasingly, Booking.com-like like digital platform industries are team building loyalty programs as well as allowing social media players to showcase cultural hospitality and kmowledge on the global stage, where others cannot, namely hotels in urban centers, which boast many amenities, with conscious regards for sustainability in service delivery. Hotel offerings in rural areas are, while slow, growing and enhanced with stringent conditioning measures and corporate responsibilities in support.

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Saudi Arabia Hospitality Industry Report 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

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

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About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide 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.