Saudi Arabia Business Travel Market

Saudi Arabia Business Travel Market Overview:

The Saudi Arabia business travel market size reached USD 10.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 17.8 Billion by 2033, exhibiting a growth rate (CAGR) of 6.40% during 2025-2033. The market share is expanding, driven by the growing implementation of government initiatives to diversify the economy under Vision 2030, along with the rising need for in-person communication to build trust and ensure efficient project execution.

Saudi Arabia Business Travel Market Trends:

Increasing foreign direct investment (FDI)

Rising FDI is offering a favorable Saudi Arabia business travel market outlook. According to the data released by the General Authority for Statistics (GASTAT), net FDI inflows in Saudi Arabia increased by 37% in Q3 2024, compared to Q2 2024. As FDI is flowing into sectors like energy, construction, and tourism, companies and organizations are sending executives, consultants, and teams for meetings, negotiations, and project assessments. This leads to a consistent demand for business-related travel services, such as flights, hotel accommodations, transportation, and conference facilities. FDI also supports the expansion of regional headquarters in Saudi Arabia, requiring continuous engagement through travel. As more foreign companies are entering the Saudi market, they are bringing their workforce, boosting the frequency of corporate visits and short-term assignments. The government’s initiatives to diversify the economy under Vision 2030 is further encouraging foreign investments, opening opportunities for business collaboration and broadening the corporate travel landscape. Business travelers are seeking reliable hospitality, connectivity, and mobility solutions, promoting the utilization of business-focused hotels, meeting venues, and premium travel services. The ongoing development of financial hubs and special economic zones is also attracting more business activity, fulfilling travel needs.

Rising collaborations to support technology sector

Increasing collaborations aimed at supporting the technology sector is fueling the Saudi Arabia business travel market growth. As the country is aiming to become a regional technology hub, it is promoting partnerships between local firms, international tech companies, and research institutions. These collaborations require ongoing travel for planning, training, system integration, and product development. Tech-related events, conferences, and expos hosted in Saudi Arabia further draw participants from around the world, increasing the volume of inbound business travelers. Frequent visits from international experts and consultants are becoming essential for knowledge transfer, technical support, and capacity building. The rising need for in-person communication to build trust and ensure efficient project execution is resulting in higher travel activity across the tech value chain. This growing demand is enabling the expansion of travel-related services, such as hotels, business centers, and transport solutions, tailored to the needs of the technology industry, making business travel an important element for Saudi Arabia’s advancing technology sector. As the technology industry is thriving in the country, the market for business travel continues to expand. In April 2024, the Communications, Space, and Technology Commission (CST) conducted the 10th edition of the 2024 Information and Communications Technology (ICT) Indicators Forum. The presentation concerning ICT Sector Performance Indicators showcased the rise in technologies within the Saudi tech industry. The overall expenditure on technology was set to hit USD 18.4 Billion in 2024, whereas government investments in cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), and big data analytics was anticipated to surpass USD 752 Billion.

Saudi Arabia Business Travel Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type, and end user.

Type Insights:

• Managed Business Travel
• Unmanaged Business Travel

The report has provided a detailed breakup and analysis of the market based on the type. This includes managed business travel and unmanaged business travel.

Purpose Type Insights:

• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others

A detailed breakup and analysis of the market based on the purpose type have also been provided in the report. This includes marketing, internal meetings, trade shows, product launch, and others.

Expenditure Insights:

• Travel Fare
• Lodging
• Dining
• Others

The report has provided a detailed breakup and analysis of the market based on the expenditure. This includes travel fare, lodging, dining, and others.

Age Group Insights:

• Travelers Below 40 Years
• Travelers Above 40 Years

A detailed breakup and analysis of the market based on the age group have also been provided in the report. This includes travelers below 40 years and travelers above 40 years.

Service Type Insights:

• Transportation
• Food and Lodging
• Recreational Activities
• Others

The report has provided a detailed breakup and analysis of the market based on the service type. This includes transportation, food and lodging, recreational activities, and others.

Travel Type Insights:

• Group Travel
• Solo Travel

A detailed breakup and analysis of the market based on the travel type have also been provided in the report. This includes group travel and solo travel.

End User Insights:

• Government
• Corporate
• Others

The report has provided a detailed breakup and analysis of the market based on the end user. This includes government, corporate, and others.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia Business Travel Market News:

• In January 2025, ATPI Group revealed a new alliance with Arjaa Travel, the prominent Saudi Arabian corporate travel agency, as part of its plan to grow its footprint in the Middle East. The collaboration involved the two firms merging their business travel management services, incorporating the ATI Group's technology platforms and customer assistance.
• In April 2024, ZentrumHub, the well-known travel technology provider, teamed up with FlyAkeed Inc., an online travel agency located in Riyadh, to improve the travel reservation experience for clients throughout Saudi Arabia and the wider Middle East. FlyAkeed was a travel technology platform featuring an intuitive and user-friendly design aimed at simplifying business travel procedures, thereby enhancing efficiency for companies in handling their travel requirements.

Saudi Arabia Business Travel Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia business travel market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia business travel market on the basis of type?
• What is the breakup of the Saudi Arabia business travel market on the basis of purpose type?
• What is the breakup of the Saudi Arabia business travel market on the basis of expenditure?
• What is the breakup of the Saudi Arabia business travel market on the basis of age group?
• What is the breakup of the Saudi Arabia business travel market on the basis of service type?
• What is the breakup of the Saudi Arabia business travel market on the basis of travel type?
• What is the breakup of the Saudi Arabia business travel market on the basis of end user?
• What is the breakup of the Saudi Arabia business travel market on the basis of region?
• What are the various stages in the value chain of the Saudi Arabia business travel market? 
• What are the key driving factors and challenges in the Saudi Arabia business travel market?
• What is the structure of the Saudi Arabia business travel market and who are the key players?
• What is the degree of competition in the Saudi Arabia business travel market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia business travel market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia business travel market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia business travel industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.