SAUDI VISION 2030: A SUMMATIVE EVALUATION OF TOURISM (INVESTMENT AND REVENUE)

Abstract

Saudi Arabia’s dependence on oil revenues has made its economy vulnerable to fluctuations in global energy markets. To address this challenge, Saudi Vision 2030 was introduced to diversify the economy and strengthen non-oil sectors, particularly tourism. The tourism sector has been identified as a key driver of economic diversification, investment attraction, and employment creation. This study evaluates the performance of Saudi Arabia’s tourism sector within the framework of Vision 2030, focusing on tourism investment and revenue generation. Using a quantitative cross-sectional design, the research analyzes secondary data from 2006 to 2023 on tourist arrivals, tourism investment, tourism spending, and tourism employment. Descriptive and inferential statistical techniques, including time-series analysis, t-tests, and ANOVA, were applied to assess differences before and after the implementation of Vision 2030. The findings indicate significant growth in tourist arrivals, tourism investment, and tourism spending, suggesting that the tourism sector is progressing toward supporting economic diversification and achieving Vision 2030 objectives.