IMARC Group, a leading market research company, has recently releases report titled “GCC Outbound Travel and Tourism Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The GCC outbound travel and tourism market is projected to exhibit a growth rate (CAGR) of 17.50% during 2023-2028.
What is GCC Outbound Travel and Tourism Market?
Outbound travel and tourism refer to the activity where residents of one country travel to another country for business purposes, spend their holidays, study tours, and learn a new language. It involves crossing international borders and helps improve global relationships. It contributes to economic activities in the destination country through spending on accommodation, food, and activities. It provides individuals with the opportunity for personal growth, relaxation, and learning. Additionally, it creates avenues for international trade and business collaborations. It supports medical tourism and enables people to avail healthcare services that are cost-effective or better in quality in the destination country.
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What are the growth prospects and trends in the industry?
The high disposable income of individuals in the GCC region is allowing them to spend more on leisure activities like exploring new countries. Apart from this, continuous improvements in air connectivity through major Gulf carriers are making international travel more convenient. Furthermore, the rise of social media and online booking platforms is making it easier for people to plan and book their trips, which is strengthening the growth of the market. Moreover, governments of various countries in the GCC region are undertaking initiatives and organizing campaigns to encourage international travel and offering subsidies. They are also introducing special packages for airfare and accommodations, thus promoting outbound tourism.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Tourism Type Insights:
- Leisure
- Religious
- Cultural Tourism
- Medical Tourism
- Sports and Adventure
- MICE Tourism
- Others
The report has provided a detailed breakup and analysis of the market based on the tourism type. This includes leisure, religious, cultural tourism, medical tourism, sports and adventure, MICE tourism, and others.
Spending Type Insights:
- Air Tickets
- Hotels
- Insurance
- Others
A detailed breakup and analysis of the market based on the spending type has also been provided in the report. This includes air tickets, hotels, insurance, and others.
Age Group Insights:
- Generation Z
- Millennials
- Generation X
- Baby Boomers
The report has provided a detailed breakup and analysis of the market based on the age group. This includes generation Z, millennials, generation X, and baby boomers.
Booking Method Insights:
- Online
- Offline
A detailed breakup and analysis of the market based on the booking method has also been provided in the report. This includes online and offline.
Country Insights:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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