GCC Outbound Tourism Market Is Estimated To Witness High Growth Owing To Rapid Economic Development

The GCC outbound tourism market is estimated to be valued at US$ 75.89 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics:

The GCC outbound tourism market is growing owing to rapid economic development and rise in disposable income in the GCC countries. Countries in GCC such as Saudi Arabia, UAE and Qatar have witnessed significant economic growth over the past decade owing to high crude oil prices. The growing GDP and per capita income have enhanced spending power of consumers in GCC, driving the outbound tourism. Moreover, GCC governments are promoting tourism by offering various amenities and infrastructure development which is also boosting the outbound travel.

Key Market Trends:

Popularity of medical tourism: The popularity of medical tourism is increasing significantly among GCC travelers. Countries like India, Thailand and Singapore are top medical tourism destinations for GCC residents due to availability of advanced healthcare facilities at affordable costs. Moreover, these countries also offer tourism amenities along with medical treatments.

Travel for education: Many students from GCC countries prefer to pursue higher education from countries like the United States, the United Kingdom, Australia and Canada. These international students also avail the opportunity to travel and explore different regions while pursuing education, thereby driving the outbound travel.

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GCC Outland Tourism Market Opportunities

Traveler Type Insights

The leisure traveler segment held the largest market share of around 60% in 2019 and is expected to grow at a CAGR of 8% during the forecast period. GCC countries like UAE, Saudi Arabia and others are promoting leisure tourism by organizing various cultural festivals and events which is attracting large number of leisure travelers from across the world.

Purpose of Travel Insights

The leisure purpose segment accounted for the major share of over 55% in the GCC outland tourism market in 2019. Countries in the GCC region are leveraging their cultural heritages and promoting religious, heritage and beach tourism which is driving the leisure travel market. Furthermore, government initiatives to organize various exhibitions, concerts and festivities are fueling the leisure travel.

Key Market Takeaways

The GCC Outland Tourism Market is anticipated to witness a CAGR of 7.7% during the forecast period 2024-2031, owing to government efforts to diversify economies and promote tourism.

On the basis of traveler type, the leisure traveler segment is expected to hold a dominant position, owing to increasing cultural events and festivities in GCC nations.

By purpose of travel, the leisure purpose segment will continue to dominate the market due to rich cultural heritages and various activities like beach tourism being offered in GCC countries.

Regionally, North America is expected to hold the major share in the GCC outland tourism market over the forecast period, due to increasing visits from American travelers to GCC destinations.

Competitor Insights:

Kanoo Travels.

Ai Mosafer

ITL World

Recent Developments in GCC Outbound Tourism Market

Growing affinity towards experiential travel

GCC travelers, especially millennials, are showing a marked preference for experiential travel over conventional sight-seeing. They want to immerse themselves in local cultures, try unique activities and create memorable experiences during their trips. This has led to rise in niche travel segments like culinary tours, adventure activities, wellness retreats etc. Popular experiential destinations among GCC tourists include Thailand, Turkey, Vietnam, Greece, Egypt etc. which offer opportunities for active exploration off the beaten path.

Increased focus on these regions offering cultural experiences can be expected in 2023-2024 as well. Travel operators are also tailoring their packages to cater to millennial travelers’ quest for one-of-a-kind experiences versus generic sightseeing itineraries. Short weekend getaways enabling quick cultural fixes will gain further traction.

Rise of tourism in the summer months

The peak summer travel season from June to August has traditionally been a lean period for GCC outbound travel due to very high temperatures across the region. However, growing popularity of family summer vacations is changing this scenario. Tour operators are formulating attractive offers and packages for family trips targeting the summer holidays.

Destinations in the Mediterranean and Eastern Europe which have warm weather in summer yet are relatively cooler than the GCC are benefiting. Turkey, Greece, Montenegro, Croatia, Italy and France are emerging as top summer destinations. With rising disposable incomes, more GCC families are likely to take summer vacations in 2023-2024 helping tourism boards of European nations to promote summer travel aggressively.

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.