The region has seen high economic growth over the past few decades driven by oil wealth which has significantly increased disposable incomes of citizens. This has boosted their spending power and made international leisure travel affordable for large population segments. Tourists from GCC seek destinations across Asia, Europe, Africa and Americas for relaxation, holidays and entertainment. Popular outbound locations include Thailand, Turkey, Egypt, UK, France and USA. The high season is during summer when families travel abroad to escape the heat.
The Global 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 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. These market leaders have a strong presence in the region and offer international travel services catering to luxury as well as budget travel segments.
The demand for GCC outbound tourism is growing steadily due to rising affluence, exposure to global cultures through internet and social media, westernized lifestyles and introduction of long weekend holidays and summer breaks. This has encouraged moreGCC residents to experience different destinations for leisure purposes instead of relying only on domestic tourism within the region.
Key players are expanding their international operations through strategic partnerships and acquisitions. They are opening new offices, retail outlets and travel counters across popular outbound locations to better serve GCC tourists. Digital transformation of operations through apps and online travel portals is also helping market players tap into the growing demand.
Market Drivers
One of the key drivers for the GCC Outbound Tourism Market Size is the increasing affordability of international travel. As incomes continue rising supported by the oil sector, more residents are able to spend on leisure activities abroad rather than limiting themselves to in-region vacations. The emergence of low cost airlines and online travel deals have further boosted accessibility of overseas locations. Airlines from the GCC also offer cheap airfares and travel packages helping tourists explore new places on a budget. As disposable incomes rise in the coming years on the back of economic growth, outbound travel is expected to gain significant momentum.
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