Travel and
Tourism Sector Accounts for 11.4% to GCC’s GDP

Muscat, 14
Apr (ONA) — The latest data released by the GCC Statistical Centre “GCC-Stat”
indicate that the travel and tourism sector’s contribution to the GCC’s GDP by
the end of 2024 reached approximately 11.4%, with a value of RO 95 billion (USD
247.1 billion). The data also demonstrates that the growth rate of the sector’s
contribution to the GCC’s GDP increased by approximately 31.9% 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%. It also pointed out that the sector’s contribution to the GCC’s GDP is
expected to reach 13.3% in 2034 insomuch as RO 142.8 billion (USD 371.2 billion).
The average annual growth rate of the sector’s contribution during the period
from 2024 to 2034 is expected to exceed 4.2%.

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

—Ends/AG