GCC Ecotourism Market, By Category (Nature, Wildlife, Generic), By Contribution (Ecotourism receipts, Hotel stay, Shopping and Leisure, Food and dining, Airline expenditure, Others), and By Region (Bahrain, Kuwait, Qatar, Saudi Arabia, Oman, UAE) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Oct 2021

Code : CMI4009

Pages :80

Formats :

Excel and PDF

Industry : Consumer Goods

Market Challenges And Opportunities

Drivers:

Growing preferences among travel lovers for ecotourism in GCC countries is primarily fueling the market growth of ecotourism. According to World Travel and Tourism Council (WTTC), in Saudi Arabia, the total contribution of travel and tourism was 154.1 billion dirhams ($41.95 billion) or 11.3 percent of GDP in 2017. It is forecast to rise by 4.9 percent in 2018. By 2028, the sector will represent 10.6 percent of GDP. Thus, growing ecotourism in the GCC region is expected to propel the market growth.

Many GCC countries are converting their cities into a tourist destination is expected to propel the market growth of ecotourism. Dubai, Doha, and Manama are some of the major countries that are focusing on enhancing the quality of place, diversity, and culture, in order to make it a tourist destination. Thus augmenting these cities as tourist places in order to appeal tourist is expected to foster the market growth of the ecotourism in GCC.

Market Opportunities

Increasing visiting of tourist from a convenient location such as Europe and the U.S. to GCC region is expected to bring new market opportunities. Increasing focus of GCC government to offer different adventure and wild-life related packages and activities and also enhance the shopping experiences of the consumers is expected to augment the market growth. All these factors are expected to fuel the market growth of ecotourism in GCC.

Increasing hospitality sectors such as hotels and restaurants in the GCC region is projected to provide immense opportunities to the market of ecotourism in GCC. According to the data from Alpen Capital, the GCC hospitality market is projected to reach US$ 32.5 billion in 2022 from an estimated US$ 22.9 billion in 2017. Moreover, between 2017 and 2022, GCC hotel supply is expected to grow at a CAGR of 4.01%.

Market Restraints

The risk associated with the ecotourism while exploring new regions restricts the market growth of the ecotourism in GCC.

The extremely hot condition in the GCC countries up to 9 months out of the year is projected to limit the market growth of the ecotourism in GCC.