Revenues from Hajj and Umrah Expected to Cross 150 Billion by 2022

Hajj and Umrah have great economic benefit for Saudi Arabia

The Directorate General of Passports of the Kingdom of Saudi Arabia have released statistics showing that approximately 1.705 million pilgrims have entered the kingdom for Hajj. The Saudi Gazette reported that breaking down the number makes 1.602 million pilgrims flying in, 87,685 came in by land, and 14,835 came by the sea route.

Revenues from Hajj and Umrah Expected to Cross 150 Billion by 2022[/tweetthis]

The economic impact of pilgrims is substantial. Revenues from Hajj and the Umrah are expected to cross $150 billion within 2022 in the context of anticipated mergers of the economic groupings and blocs to quench increasing demand related to the economics of Hajj and Umrah. These estimates are made on the light of transport and commercial stores. It also takes into account the expansion of small and medium enterprises (SMEs).

According to Muhsin Al-Sharif, Committee of Real Estate and Investment member, revenues from Hajj will contribute to the Saudi economy. There is thus a need to make an integrated plan to control the financial resources and the revenues in a manner which will serve the Saudi Arabia Vision 2030. All of these will help the Saudi economy. A mega market will be created not only for the seasonal jobs, but include sustainable jobs that constitute the mainstay of Hajj and the Umrah economics. Plans are already made to streamline Makkah and Madinah. They will be slotted into the organized economic frameworks which will serve the economic mechanisms that attract super high returns coming to billions of dollars every year.

To achieve this, specialized research centers will be created in coordination with Institute of the Custodian of the Two Holy Mosques for Hajj and Umrah along with Makkah Chamber of Commerce and the industries to offer economic index. It will act as a rallying point to attract much needed Saudi capital. It will fix the Hajj and Umrah seasons in National Transformation Plan or NTP 2020.

Brother, Saudi Arabia earned over $12 billion from Hajj last year, so how come the revenue falls to $4 billion this year?

— AAMIR SAEED (@AamirSaeed_) August 28, 2017

The Hajj and the Umrah are one of the biggest human gatherings to take place every year. About two million pilgrims make the journey in soaring temperatures. It is important for the pilgrims to stay hydrated and cool. To ensure this happens, police officers spray cool water from hoses attached to backpacks. The water is sprayed on to the air-conditioned marble floors. Large folding umbrellas are installed in the Grand Mosque's courtyards. Police officers also spray water on pilgrims.

Resources

• Arab News
• The National

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