by The GCC outbound tourism market is a multibillion-dollar industry focused on travel from Gulf Cooperation Council countries including Saudi Arabia, United Arab Emirates, Qatar, Oman, Bahrain and Kuwait to destinations around the world. The market provides advantages like exposure to different cultures and experiences as well as opportunities for education and business to GCC travelers. With evolving consumer preferences and the conveniences of online travel bookings, the demand for international travel from the region is growing significantly.
Global GCC Outbound Tourism Market is estimated to be valued at US$ 75.89 Billion in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the GCC outbound tourism market are Al Futtaim Travel, Al Ghanim Travel, Al Rostamani Travel and Holidays, Kanoo Travel, Omeir Travel Agency, Al Rais Travel Agencies, ITL World, Belhasa Tourism & Travel, Al Naboodah Travel, Al Tayer Travel Agency, Al Mosafer, Al Jazeera Travel & Tourism, Al Mufeed Travel & Tourism, Al Mufeed Travel, Al-Hokair Group, Al-Faisal Travel, Al Mufeed Travel Agency, Al Safwa Travel & Tourism, Al Shams Travel & Tourism, and Al Ahlia Travel & Tourism.
The GCC outbound tourism market provides several opportunities like expanding outbound travel options, introducing tourist-friendly visa policies, developing religious and adventure tourism circuits, boosting tourism infrastructure and partnering with global hospitality chains. Technological advancements are also fueling market growth with the rising demand for online travel bookings, mobile travel apps and digital travel experiences.
Market Drivers
A key driver for the GCC Outbound Tourism Market Size is the growing spending power and leisure time of the large youth population in Gulf countries. Changing lifestyles and increasing economic diversification away from oil are also encouraging international travel from the region. Favorable foreign exchange rates and initiatives by governments to promote tourism are further propelling the growth of the outbound tourism sector.
Challenges in GCC Outbound Tourism Market
The GCC outbound tourism market faces numerous challenges that hinder its growth potential. Strict regulations hamper ease of travel from the GCC region. Political instability and security issues in popular outbound destinations create uncertainty. Changing consumer preferences towards experiential and culture-based trips pose difficulties for existing tour operators to adapt quickly. High living costs within GCC nations compared to other regions make international travel relatively more expensive. Dependence on international source markets for supplying tourism services exposes the market to global economic fluctuations. Natural calamities and outbreaks like the ongoing COVID-19 pandemic severely impact travel flows in the short to medium term.
SWOT Analysis
Strengths: High disposable incomes, rapid infrastructure growth, increasing exposure to global tourism.
Weaknesses: Over-reliance on traditional holiday destinations, lack of diversified tourism products and experiences on offer.
Opportunities: Develop new destination partnerships, focus on niche experience-based segments like health, wellness, adventure tourism.
Threats: Economic slowdowns, global health crises, political instability in source markets weaken outbound travel flows.
Geographical Concentration
In terms of value, European nations like the UK, France and Turkey attract the largest shares of GCC outbound tourists currently. This is due to proximity, as well as familiar cultural attractions and destinations that appeal to GCC travelers traditionally.
Fastest Growing Regions
The Southeast Asian region has emerged as one of the fastest growing destination markets for GCC Outbound Tourism Market Size And Trends in recent years. Countries like Thailand, Malaysia and Indonesia are witnessing double-digit annual growth rates in tourist arrivals from the GCC, led by increased airline capacity, progressive visa policies and a surge in demand for tropical beach escapes and unique cultural experiences.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
