GCC Tourism Revenues Surge to $120.2 Billion in 2024: What This Means for Investors and Business Growth in the Region
MUSCAT: International tourism revenues across the GCC reached $120.2 billion in 2024, marking an 8.9% increase from the previous year, according to a report by the GCC Statistics Centre. The region welcomed 72.2 million tourists, reflecting a 6.1% year-on-year growth in visitor numbers.
Tourism demand within the GCC was primarily driven by visitors from the Middle East, who comprised 18.8% of total arrivals. This was followed by tourists from Europe (14.6%) and the Asia-Pacific region (14.5%). Additionally, arrivals from the Americas and Africa grew by 11.4% and 5.5%, respectively, compared to 2023.
The report highlights that 86.7% of tourists (62.2 million) traveled for personal reasons, while 10.9% (9.6 million) visited for business and conference purposes.
Employment in the tourism sector reached 1.7 million workers in 2024, a 2.8% increase from 2023. Saudi Arabia led tourism employment with 55.5%, followed by the UAE at 29.2%, underscoring the industry’s significance as a job creator in the region.
Hotel infrastructure expanded to meet rising demand, with a total of 11,200 hotel establishments across the GCC, a 1.3% increase year-on-year, offering a combined capacity of 711,500 rooms. Saudi Arabia topped the list with 8,393 hotels, while the UAE had 1,205 properties. Hotel room occupancy rates averaged 56.7% in Saudi Arabia and 54.7% in the UAE.
Economically, the direct contribution of travel and tourism to GCC GDP reached $93.5 billion in 2024, representing 4.3% of total GDP and achieving 64.1% of the 2030 target set by the GCC Joint Tourism Strategy. Tourism revenues accounted for 7.5% of global tourism receipts, reflecting the region’s expanding influence in the international travel market.
Special Analysis by Omanet | Navigate Oman’s Market
The GCC’s tourism sector is experiencing robust growth, with revenues up 8.9% and visitor numbers rising 6.1% in 2024, signaling strong demand for hospitality and related services. For businesses in Oman, this trend presents opportunities to expand tourism infrastructure and services, while investors should consider capitalizing on rising personal and business travel flows. Smart entrepreneurs must align with the GCC Joint Tourism Strategy to tap into this growing market, mindful of increasing competition from regional leaders like Saudi Arabia and the UAE.
