Growing tourism in MENA’s as locals impacted with economic crisis

Monday, July 24, 2023

In Middle East, tourism is a major financial sector and in the recent times, it has continued to grow. When it comes to economic growth in the wealthy countries, tourism has been an important advantage, and for those getting distressed from financial crises, tourism has been a mean for gaining income and attracting foreign currencies.

The Middle East last year had attracted highest number of foreign arrivals. To the GDP of the region, the tourism and transport sectors have contributed to an increase by 46.9% from 2021 to 2022. This is a total of $107 billion. Also, airlines in 2022, witnessed a 157.4% rise in traffic compared to 2021, along with augmented capacity by 73.8%, as per IATA.

In the first quarter of 2023, this trend continued, as the Middle East was the only region surpassing 2019 arrivals and the first to get pre-pandemic numbers well in a full quarter, as per the UN’s World Tourism Organisation.

Forbes magazine assured that the tourism sector to the region’s financial growth and development has contributed considerably, enabling it to create itself as a world-class destination.

For numerous Gulf monarchies, tourism has become a main economic asset in their strategies to build up resources. This year, in UAE it’s hoped that tourism will contribute to 10% to the economy of country.

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