News: Saudi Arabia Hajj tourism market set to grow to US$350 billion by 2032

hajj Arabia

The Saudi Arabia Hajj tourism market is set to achieve a CAGR of +7% across the next ten years, according to a new report from Future Market Insights.

The market is predicted to reach tourism revenues of US$150 billion this year, rising to US$350 billion in 2032 under the projected growth path.

According to travelandtourworld.com, Saudi Arabia Hajj tourism market is an annual religious pilgrimage to Mecca – the holiest city for Muslims and home to much spectacular architecture – undertaken each year by millions of people from the domestic and international markets. Alongside the city’s general draw as a Muslim tourism destination, the pilgrimage is a mandatory religious duty for some Muslims.

It must be carried out at least once in their lifetime by all adult Muslims who are physically and financially capable of undertaking the journey, and of supporting their family during their absence from home. Mecca is 70km (43 miles) inland from Jeddah on the Red Sea, in a narrow valley 277m (909 ft) above sea level.

Curbed by the COVID-19 pandemic, only 60,000 entered the country to visit Mecca in 2021. But as Saudi Arabia recovers fast from the crisis, overseas visitors are now entering the Saudi Kingdom in great numbers.

The projected tourism growth is partly-driven by the Saudi Vision 2030 initiative – a hugely ambitious strategic framework to reduce the Kingdom’s dependence on oil and diversify its economy. This will contribute significantly to the growth of Hajj tourism, Future Market Insights noted.

READ: News: Saudi Arabia To Splash $2billions On Golf, Tourism Increase Diplomatic Standing On Global Stage, As PGA Moves To Suspend Players Taking Part In Tournament

Much work is being undertaken to build the hospitality infrastructure in and around Mecca to host Hajj tourism, most notably the Abraj Kudai Hotel, which is currently under construction.

When completed, it will be the largest hotel in the world, consisting of a ring of 12 towers (split between four and five star accommodation), 45 stories high, with 10,000 bedrooms, 70 restaurants and four rooftop helipads. There will also be five floors for the sole use of the Saudi royal family.

According to the report, the Hajj tourism market share is primarily occupied by Asia Pacific and African countries, as the majority of Muslim devotees migrate from different countries in these regions.

Europe is also a strong Hajj tourism source market, with Muslim pilgrims travelling in high numbers from countries including the UK, Turkey, Albania, Azerbaijan, Bosnia and Herzegovina, and Kosovo.

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