GCC Tourism Sector Boosts Economy by $247 Billion in 2024: What This Means for Investors and Business Owners
MUSCAT, SEPT 27 — The travel and tourism sector contributed approximately $247.1 billion to the gross domestic product (GDP) of the Gulf Cooperation Council (GCC) states by the end of 2024, representing a 31.9% increase compared to 2019, according to the GCC Statistical Centre.
A recent report titled “Tourism in the GCC: A Gateway to Development and Sustainable Transformation,” released on World Tourism Day (September 27), projects that the sector’s share of the region’s GDP will grow to 13.3% by 2034, valued at $371.2 billion. This growth highlights the sector’s expanding role as a key driver of economic, social, and environmental development across the Gulf.
The report emphasizes tourism’s importance in job creation, noting that the sector’s contribution to employment reached $4.3 billion in 2024—a 24.9% increase from 2019. By 2034, travel and tourism are expected to generate approximately 1.3 million new jobs. The industry is also promoting greater participation of youth and women in the workforce, with women making up 13% of the tourism sector’s employees in 2024, marking a 73.2% rise since 2019.
On the environmental front, GCC countries have made significant strides in eco-tourism and sustainability by expanding natural reserves. Protected land and marine areas now constitute 19% of the GCC’s total territory as of 2023, reflecting a 7.5% increase over the previous year.
The report further highlights a significant increase in travel within the GCC, with intra-GCC tourism reaching 19.3 million travellers in 2024—a 52.1% growth since 2019. These trips accounted for 26.7% of all international tourist arrivals in the region. — ONA
تحليل خاص من عمانت | تصفح سوق عُمان
The booming travel and tourism sector in the GCC, with a projected GDP contribution of $371.2 billion by 2034, presents فرص نمو كبيرة للشركات العمانية to tap into expanding intra-GCC travel and sustainable eco-tourism. Smart investors should prioritize sustainable tourism ventures and workforce inclusion strategies, especially those empowering youth and women, to align with regional development trends and maximize returns amid rising demand.
