GCC Outbound Travel Market CAGR 5.8% during 2024-2032

Tuesday, December 12, 2023

The market extent of GCC outbound travel and tourism is expected to display a growth rate (CAGR) of 15.8% in the course of 2024-2032. Growing penchants for sustainable travel choices like eco-friendly housings and low-impact happenings, increasing proclivity for studying abroad and the rising admiration of cooking shows and food-centric media signify some of the important facets propelling the market.

The Gulf Cooperation Council (GCC) area, recognized for its noteworthy oil resource, has seen an amazing growth in financial wealth. This increase in fortune has led to an upsurge in non-refundable incomes among its inhabitants, authorizing them to spend further on travel and tourism.

The wealthy inhabitants of these countries, especially in the UAE, Saudi Arabia and Qatar, are more and more looking for global travel experiences. This tendency to travel is boosted by the emergent middle class, which is now finding outbound travel as a possible and desired relaxation action. The extraordinary buying power of these tourists makes them a sought-after demographic for worldwide travel and tourism markets, boosting demand for varied and luxury travel understandings.

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