Travel, tourism sector accounts for 11.4% to Gulf's GDP: GCC-Stat

WAM
14 Apr 2025, 14:50 GMT+10

MUSCAT, 14th April, 2025 (WAM) -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent, with a value of US$247.1 billion.

The data also demonstrated that the growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.

The centre revealed that the sector's contribution to the global GDP in 2024 amounted to 2.2 percent. It also suggested that the sector's contribution to the Gulf's GDP is expected to reach 13.3 percent in 2034 insomuch as $371.2 billion. The average annual growth rate of the sector's contribution from 2024 to 2034 is expected to exceed 4.2 percent.

On the other hand, statistics indicated that the average annual growth rate in the number of tourists travelling between GCC countries from 2019 to 2023 reached 41.5 percent, which accounted for 26.5 percent of the total international tourists arriving in GCC countries in 2023.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.

More Information

null in null

Business

Section

Vietnam to crack down on rerouted Chinese goods to avoid US tariffs

Facing Trump tariffs, Vietnam eyes crackdown on some China trade

HANOI, Vietnam: Vietnam is preparing a series of trade enforcement measures as it scrambles to shield itself from sweeping U.S. tariffs,...

AI boom drives TSMC revenue to record highs

TSMC's first-quarter revenue surges 42 percent, slightly ahead of forecasts

TAIPEI, TAIWAN: A strong push from artificial intelligence demand lifted TSMC's quarterly revenue to new highs, with the chipmaker...

Aurora's driverless trucks to tackle tough weather post Texas launch

Aurora plans self-driving trucks in harsh weather after launch

PITTSBURGH, Pennsylvania: Aurora Innovation says its driverless trucks will eventually be equipped to handle tough weather conditions,...

US Treasury to ease regulatory burden on small banks

Bessent says US Treasury to take stronger role in bank regulation

WASHINGTON, D.C.: The U.S. Treasury will step more firmly into bank regulation to ensure better balance and less burdensome oversight,...

White House Plans New Push to Boost US coal amid AI energy surge

Bloomberg: Trump order looks to tap coal for powering data centers

WASHINGTON, D.C.: The White House is preparing a new directive aimed at reviving domestic coal production as energy demands surge from...

Universal plans major theme park north of London

Universal to open first British theme park near London

LONDON, UK: Universal is setting its sights on Britain as the next destination for its global theme park expansion, marking a major...

Travel and Tourism

Section