With global tourist trips projected to reach 30 billion by 2034, Saudi Arabia is positioning itself at the heart of a tourism boom expected to outpace global economic growth, according to a new report by the World Economic Forum (WEF).

The report, Travel and Tourism at a Turning Point: Principles for Transformative Growth—developed in collaboration with Kearney and Saudi Arabia’s Ministry of Tourism—names the Kingdom as the second fastest-growing tourism destination in the world and a key force shaping the sector’s future through investment, innovation, and sustainability.

“Saudi Arabia is redefining how countries can leverage tourism for inclusive prosperity, cultural diplomacy, and long-term resilience,” the report notes, citing record-breaking visitor numbers and the strategic leadership behind Vision 2030.

Saudi Tourism Minister Ahmed Al Khateeb emphasized the sector’s broader role: “Tourism is not just a siloed, standalone industry. It is an engine for economic growth, cultural understanding, and international cooperation,” he said. 

“In Saudi Arabia, we’re investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030 but to help shape and support the future of global tourism.”

The WEF report identifies Asia as the region poised to become the fastest-growing tourism economy, with travel and tourism’s direct contribution to regional GDP expected to surpass 7% by 2034. Emerging segments such as sports tourism are projected to reach $1.7 trillion by 2032, while ecotourism continues to expand at a compound annual growth rate of 14%.

Technology is also playing a transformative role. The global travel tech market, valued at $10.5 billion in 2024, is expected to nearly double by 2033, with 91% of industry technology leaders planning to increase investment.

To meet rising demand, the global tourism sector will need to scale significantly, adding around 7 million hotel rooms and 15 million additional flights annually, along with major infrastructure upgrades to support the projected growth in travel.

However, the report also warns of growing risks. Without coordinated action, tourism could account for up to 15% of global greenhouse gas emissions by 2034, rising from 8% today.

Tourist-generated waste is expected to reach 205 million tons annually, around 7% of the world’s solid waste. Labor shortages also threaten the sector’s resilience, with turnover rates exceeding 50% in countries like the UK and the U.S., where hospitality employers are struggling to meet hiring targets despite wage increases.