GCC Outbound Travel & Tourism Market Share

Report ID: 3200
Published Date: Dec 06, 2024
Report Format: PDF, PPT

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The UAE market is expected to hold the largest revenue share during the forecast period. The growth of the market can be attributed majorly to the rising expenditure on tour and travels followed by higher outbound travel. In contrast to the UAE's GDP in 2019, which was around USD 50 billion, the travel and tourism industry contributed a total of nearly USD 20 billion which makes up for around 5 percent of the GDP in 2020. In UAE, the total number of outbound trips was around 4 million in 2020. Out of which, around 30% of people went to Saudi Arabia, and around 17% went to the United Kingdom. Furthermore, the rising government initiative to boost the tourism market is expected to augment the market growth in the region. For instance, the UAE Tourism Strategy 2031 was introduced on Friday by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, in an effort to increase tourism's contribution to the country's gross domestic product to USD 122 billion annually by 2031.

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GCC Outbound Travel & Tourism Market Size Forecasts 2037

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In the year 2025, the industry size of bio-solvents is assessed at USD 81.05 billion.

The GCC outbound travel & tourism market size was over USD 76.4 billion in 2024 and is anticipated to cross USD 197.99 billion by 2037, witnessing more than 7.6% CAGR during the forecast period i.e., between 2025-2037. Increasing number of outbound tourists, a rise in international trade, an increase in tourism spending, and a growing network of airlines will drive the market growth.

UAE industry is expected to account for largest revenue share of NA% by 2037, attributed to rising expenditure on tour and travels followed by higher outbound travel.

The major players in the market are Houseoftours.com, Dadabhai Travel LLC, dnata Travel Group, Saudi Ebreez Company, Travelex Travels & Tours LLC, Seera Group, Omeir Travel Agency LLC, AL Badie Group, Arabian Oryx Travel and Tourism LLC, STBE Plus