Riyadh – Mubasher: Hajj revenues are set to exceed SAR 16 billion ($4.2 billion) in 2017, a new study by Sajini Research and Consultancy Centre (SRCC) showed.
Revenues from Hajj’s revenues are also forecasted to rise to SAR 21.2 billion ($5.6 billion) after five years, SRCC’s study added, attributing the projected increases to pilgrims' high level of spending, as gifts and presents make up around 14% of pilgrims’ expenses.
Commenting on the pilgrims' spending across other sectors, the SRCC revealed that the housing sector came in first with 40% of expenses, followed by transportation with 31%, gifts with 14%, food with 10%, and other miscellaneous items with 5%.
As for hotels, Makkah ranked first with the largest number of hotels operating in the Kingdom, reaching 1,117 hotels and establishments, followed by Madinah and Jeddah with 575 and 412 hotels and establishments, respectively.
The food and nutrition sector ranks among the most important sectors for pilgrims, SRCC’s study highlighted, indicating that the total value of the sector reached SAR 37.5 billion ($10 billion), with Makkah alone acquiring SAR 7.5 billion of the sector.
