Destination Market Insights: Gulf Cooperation Council – Analysis of source markets, infrastructure and attractions, and risks and opportunities
Summary
GlobalData’s Destination Market Insights: Gulf Cooperation Council” provides in-depth analysis of a tourist destination, in this case for the Gulf Cooperation Council (GCC). The GCC is comprised of six member states; Bahrain, Kuwait, Oman, Qatar, Sausi Arabia and the UAE.
The report uses regional and country focused analysis to explore inbound tourist markets, infrastructure and attractions, as well as risks and opportunities and provides clear insight into current and future tourism developments in the region.
Tourism has emerged as an area of great potential for the six GCC countries. Following the oil slump in 2015, the state members have come up with ambitious economic plans, such as Saudi Arabia’s Vision 2030. These plans prioritize tourism as a key growth area, pledging to speed up investment in major infrastructure projects, as well as in hotels and entertainment in an attempt to boost both international and domestic visitor flows. As inbound flows to all sic countries are forecast to grow, players and tourism boards must ensure that besides investing in infrastructure, they are also investing in product and source markets diversification.
Scope
– With over 21 million arrivals in 2017, the UAE is the most popular destination in the GCC.
– Oman, though currently ranking last in terms of international arrivals in the region, is expected to experience the fastest growth, at a CAGR of 13.2% between 2016 and 2022.
– Whereas the GCC, and particularly the UAE, were popular destinations for luxury holidays and shopping, different types of tourism such as sports and MICE are growing in significance.
– The GCC will to host a number of high stakes events that will raise the tourist profile of the region. The most prominent ones are the FIFA 2022 World Cup in Qatar and the EXPO 2020 in Dubai.
– A key trend in the region is the growing demand for affordable accommodation, especially in the UAE, which is dominated by luxury and upscale establishments.
– As the middle class in emerging countries is ballooning, especially in India and China, demand for travel to the GCC is expected to surge.
Reasons to buy
– This report provides clear and detailed insight into new developments in a fast growing tourist destination.
– The report uses data and analysis to explore future trends related to international arrivals, airlines, and hotel developments.
– The reader gains a strong understanding of the opportunities in the market, as well as the risks, to support better business decisions.
