According to the Saudi Budget declaration for the next fiscal year, the Kingdom will implement a value-added tax (VAT) rebate scheme for visitors in 2025.
The system, which aims to improve travel and expedite tax compliance, will be implemented under the direction of the Zakat, Tax, and Customs Authority. This program demonstrates Saudi Arabia’s commitment to fostering a welcoming atmosphere for tourists and encouraging more of them to visit the Kingdom.
By the National Tourism Strategy, Saudi Arabia wants to draw 127 million tourists by the end of 2025. By encouraging domestic and foreign travel, the plan strengthens the Kingdom’s standing as a top travel destination worldwide.
Tourism spending is expected to reach SR346.6 billion in 2025, stimulating demand in the private sector, increasing non-oil income, and having a major impact on the local economy.
Building on recent gains, Saudi Arabia exceeded its Vision 2030 target seven years ahead of plan in 2023, welcoming close to 104 million tourists. This showed the Kingdom’s increasing popularity, with 77 million domestic and 27 million foreign tourists.
The Ministry of Tourism reported 59.74 million domestic and foreign visitors by June 2024. This number helps the private sector expand and adds to the GDP’s increase in non-oil revenues. Saudi Arabia wants to boost its tourism goals by reaching 119.6 million visitors by the end of 2024.
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