Excerpts from the interview:
What’s behind the Tourism Data Lab idea and what is Visa’s role in this initiative?
The strategic collaboration will be powered by VisaNet, Visa’s payments database, which provides a wealth of data on inbound tourism and insight into how governments and authorities can optimize their digital strategy. This will allow Saudi Tourism Authority to enhance its capabilities by providing, exchanging and analysing data as well as offering products and promotional package programs that improve the experience of tourists and attract more segments from the main markets in the region. Through our broad payments database, the world’s largest and most representative, we can track a visitor’s journey from pre-arrival to departure and develop valuable insights.
Insights generated from the data include, to mention a few, visitor journeys and spending behaviours across different categories, seasonality, digital adoption, and customer types, allowing for a holistic overview of how to create customer-centric payments experiences. We can also provide benchmarks with other countries in Middle East and Africa that are competitive in tourism.
Can you share some of the latest insights into travel and tourism trends and dynamics Visa has observed?
Last month our Visa Business and Economist Insights team published Global Travel Insights and there is very interesting and encouraging data I’d like to share, especially for the Saudi market. (Visa Global Travel Insight March 2023 | Visa).
Firstly, I’d like to highlight that a full recovery is finally in sight for the travel and tourism industry—the earliest and hardest-hit sector of the economy. Also, we see travel preferences evolving post-pandemic, while reshuffling of travel destinations is underway. The pandemic reordered the popularity of travel destinations. For example, Mecca, which reopened earlier and has benefited from government efforts to promote tourism, has risen to become the 13th most visited city, up from 44th in 2019. Cities in Europe and the Middle East re-opened earlier, the travel infrastructure was already in place, making travel easier. And this opened new opportunities.
How is Saudi preforming on a global/regional map?
If we look at the insights for Riyadh, for example, we see that total arrivals recovery rate in 2022 was 167%. This is beyond full recovery, and we are seeing growth comparing to 2019. In Medina, this recovery rate is 192%.
Saudi Arabia is fast emerging as tourism hub with diverse and enriching experiences awaiting visitors. The industry is also a pivotal pillar in achieving the goals of Saudi Vision 2030 to diversify the economy and create new job opportunities.
The Saudi tourism system provides competitive facilities, services, support and financing, where advanced digital infrastructure contributes to growth acceleration and success and empowers partners.
Finally, Saudi Arabia is known for its natural and cultural richness, as well as diversity of destinations: coasts, beaches, islands, and natural and historical areas, as well as various events hosted throughout the whole year.
Author: TradeArabia News Service
