Gulf Cooperation Council (GCC) Tourism Destination Market Insights, Foreign Direct Investment, Source Markets and Opportunities, 2023 Update

Gulf Cooperation Council (GCC) Tourism Destination Market Insights, Foreign Direct Investment, Source Markets and Opportunities, 2023 Update

Summary

Analysis of destination markets, infrastructure and attractions, main and emerging source markets, as well as risks and opportunities in The GCC region. This report explores the types of travelers that visit the region as well as a SWOT analysis. The UAE and Saudi Arabia are explored in more detail.

Prior to COVID-19, inbound flows to the six GCC member countries were growing at a CAGR of xx% between 2015 and 2019, to reach xx million international arrivals in 2019. Many factors had contributed to this notable growth, including the GCC’s cultural, heritage and natural attractions, sport and entertainment tourism, and geographic proximity to Europe, Africa, and the APAC region. Many GCC countries are highly dependent on neighboring regional countries to support their tourism economies. In 2019, arrivals from other The GCC countries accounted for xx% of international arrivals to the The GCC region, as inbound flows increased to xx million in 2019 (CAGR 2015-19: xx%). With COVID-19 restrictions lifted the UAE remained the most visited GCC destination in 2022. Prior to COVID-19, international arrivals to the UAE were growing at a Compound Annual Growth Rate (CAGR) of xx% between 2015 and 2019 to reach xx million arrivals in 2019. Total inbound expenditure to the The GCC region has grown steadily, aligned with increased inbound visitation. Pre-COVID-19, total inbound spend reached a high of $xx billion (CAGR 2015-19: xx%). In 2020, total inbound expenditure declined by xx% YoY to $xx billion, before recovering by xx% YoY to $xx billion in 2022. As international travel resumes, total inbound spend will exceed 2019 levels to reach $xx billion by 2027 (CAGR 2023-27: xx%).

Scope

• This report is part of GlobalData's Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case the GCC.

Reasons to Buy

• Obtain a clear and detailed insight into new developments in a burgeoning tourist destination. Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, airlines and hotel developments. Gain a better understanding of the opportunities in the market, as well as the risks, to support better business decisions.