GCC OUTBOUND TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Countries in the Gulf Cooperation Council (GCC) region, such as Saudi Arabia, the U.A.E, Qatar, Kuwait, Oman, and Bahrain, have emerged as lucrative markets for various global destinations. The high disposable incomes of GCC residents coupled with the arid climate of their home countries has resulted in significant outbound travel. Most GCC travelers prefer long vacations during the summer months of May to September to beat the heat. Popular long-haul destinations, such as Europe, Southeast Asia, and Northeast Asia, have seen a major influx of GCC tourists in recent times as the passports of GCC nations allow visa-free entry to over 80 countries. Moreover, airline and hospitality companies have increasingly targeted this high spending visitor segment which is driving the GCC outbound tourism market.

Market Dynamics:

The GCC outbound tourism market is expected to grow at a steady pace during the forecast period. Surging disposable incomes and high spending capacity of GCC nationals have emerged as a key driver as it allows for international vacations and premium experiences abroad. Additionally, the introduction of e-visa policies and relaxation of visa rules by several destinations have augmented travel convenience and stimulated outbound tourism from GCC. However, political tensions and instability in parts of the world poses threats while currency fluctuations can impact travel budgets and restrain the market growth. Meanwhile, increasing airline connectivity through the GCC hubs and tailored offerings by tour operators present lucrative opportunities. Further, strong economic growth prospects in GCC bode well for outbound tourism spending in the coming years.

Key Features of the Study:

• This report provides in-depth analysis of the GCC outbound tourism market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global GCC outbound tourism market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include 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
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global GCC outbound tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global GCC outbound tourism market

Detailed Segmentation:

•  Traveler Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Families
  • Couples
  • Solo Travelers
  • Group Tours
•  Purpose of Travel Insights (Revenue, USD Bn, 2019 - 2031)
• • Leisure
  • Business
  • Medical Tourism
  • Education
  • Others
• Key Players Insights
  • 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
  • Al Ahlia Travel & Tourism