WTTC forecasts travel, tourism to contribute significantly to economies of GCC nations
(MENAFN) The World travel & tourism Council (WTTC) forecasts that travel and tourism will contribute significantly to the economies of the Gulf Cooperation Council (GCC) countries, projecting it to account for 13.3 percent of the region's GDP by 2034, totaling USD371 billion. According to its latest annual research, the WTTC expects travel and tourism to already contribute 11.4 percent of the GCC’s GDP in 2024, amounting to USD247.1 billion. This growth reflects the increasing importance of the sector in the region's economic landscape.
The WTTC also predicts substantial growth in employment within the sector, with the number of people employed in travel and tourism across the GCC expected to rise from 4.3 million in 2024 to 5.65 million in 2034. This increase in employment mirrors the sector's expanding role in the region's economic development. In terms of spending, international visitor expenditure in the GCC was estimated at USD151.1 billion in the past year and is projected to grow to USD223.7 billion by 2034. Similarly, domestic visitor spending is expected to rise from USD72.7 billion to USD108.3 billion in the same period.
Focusing on Qatar, the WTTC predicts that the country’s travel and tourism sector will grow its annual GDP contribution to over QR135 billion by 2034, making up nearly 13 percent of Qatar’s total economy. The sector is expected to employ around 458,000 people, with one in five residents working within it. This growth reflects Qatar's strategic focus on developing its tourism infrastructure and diversifying its economy.
In 2024, travel and tourism in Qatar is projected to contribute QR90.8 billion to the national economy, or 11.3 percent of the total GDP, and to support over 334,500 jobs, representing 15.8 percent of the country's workforce. The sector's growth is driven by a significant increase in international spending, which is expected to reach a record QR69.6 billion, while domestic spending is projected to hit QR12 billion. These figures highlight the robust recovery and growth potential of Qatar’s tourism sector in the coming years.
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