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Saudi Arabia Nets $16.5Billion from Pilgrims (2012)

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Financial News from RIYADH – Saudi Arabia raised $16.5 billion from pilgrimages this year (2012) to Makkah and Medina in the west of the kingdom, a Saudi newspaper reported on Thursday.Al-Hayat,

citing religious tourism sources, said a total of 12 million pilgrims visited Islam’s holiest sites during the annual Haj which took place this year at the end of October or for the year-long Umrah, or minor pilgrimage. The pilgrims – including 3.1 million who performed the Haj, including 1.7 million from abroad, according to official figures – spent 62b riyals ($16.5b), a rise of 10 per cent over 2011 because of increased costs, it said.

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