GCC Outbound Tourism Market: Overview
The GCC outbound tourism market is poised to expand at a stellar pace in the years to follow. The tourism industry across the gulf countries has been growing at an exponential rate over the past decade. The liberalisation of policies across these countries, especially in the context of cross-country trade and commerce, has been a crucial driver of market demand. Several of the GCC nations are at important junctures of their journey to fruition, and the tourism industry would play an important role in meeting the prime goals of these nations. Outbound tourism has been a source of intellectual as well as economic growth for the GCC. On account of the factors mentioned above, it is safe to expect the GCC outbound tourism market would attract formidable investments in the times to follow.
In this syndicate review, Transparency Market Research (TMR) sheds light on several factors pertaining to the growth of the GCC outbound tourism market. It is imperative for the vendors operating in GCC outbound tourism market to leverage on opening of borders to new regions. The aviation industry has also played a crucial role in driving sales across the GCC outbound tourism market.
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GCC Outbound Tourism Market: Notable Developments
- As airports across the GCC reopen with relaxations in lockdowns, the GCC outbound tourism industry could recover from its perils. The outbreak of the coronavirus had brought travel and tourism to a standstill. However, the tourism industry is projected to come back stronger over the next quarters of the year. The companies providing key services for outbound tourism can leverage the reopening of airports to their advantage. These companies can improve their functional standards to keep abreast of the changing times.
Outbound tourism for business is expected to gather momentum in the years to follow. Most people are expected to refrain from travelling to foreign countries for leisure and entertainment. Henceforth, the vendors operating in the GCC outbound tourism market are expected to focus on attracting business travellers. These companies are resorting to online marketing and outreach campaigns to clock in a decent chunk of the market share. Several new policies governing tourism and travel in the GCC have emerged in these times.
GCC Outbound Tourism Market: Growth Drivers
- Business Opportunities Outside the GCC
The ties of the GCC with other nations have improved in recent times, opening doors to several other nations. Arabs have become more inclined toward looking for business prospects in new regions that are outside of their immediate nations or territories. Furthermore, governments across several GCC territories such as the UAE, Saudi Arabia, and Qatar encourage their nationals to undertake business and commerce tours to other regions. The presence of a seamless tourism sector in these countries has aided the growth of the outbound tourism market. The GCC has witnessed several changes to the trade and commerce fabric, creating new opportunities for travel and tourism.
- Educational Travel and Trips
The education sectors of most GCC countries are still in the phase of maturing, and there are limited opportunities for budding scholars. Governments across the GCC provide several scholarships to students and research scholars willing to go on educational trips and expeditions to western countries. This factor is projected to fetch humongous revenues within the GCC outbound tourism market. Several GCC nations have amended their tourism and travel guidelines and policies to encourage and assist more people in travelling the world. It is evident that the GCC outbound tourism market would expand at a stellar pace in the years to follow.
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