Gulf nationals are set to increase their expenditure by over US$100 billion by 2018, Finds New Report

Source Market Insights; GCC provides an overview of the Gulf Cooperation Council outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of GCC tourists going abroad, their spending habits and main destination markets.

Key Findings

• The GCC’s outbound market saw impressive growth over the last few years, with over 37 million outbound made in 2013, with Saudi Arabia leading the way increasing 18 million to 21 million trips between 2012-13.
• Gulf nationals are big spenders when abroad. In 2013, they spent over US$65 billion on outbound expenditure but this is set to increase by over US$100 billion by 2018. GCC tourists are now traveling more than ever with the increased LCC flights availability.
• Gulf States such as Saudi Arabia and the UAE continue to be the main source markets for GCC tourists in 2013. Shopping is the main activity for GCC nationals in the UAE, while religious tourism in the form of the Hajj pilgrimage is the main activity for visitors to Saudi Arabia. However increasing disposable income has led to the rise of the UK and Germany as leading outbound destinations among wealthy Emirati nationals keen to spend in European retail outlets.
• Trips within the GCC are likely to increase because the GCC will soon introduce a Schengen-style, unified visa for tourists and businessmen from 35 foreign and Arab countries. Nationals from these countries will be able to visit the UAE, Saudi Arabia, Bahrain, Kuwait, Qatar, and Oman under a single visa once the system is finalized and implemented by 2015

Synopsis

The report provides detailed market analysis, information, and insights, including:

• Historic and forecast tourist volumes covering the entire GCC outbound tourism sector
• Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as sightseeing and entertainment , transportation and retail
• Detailed analysis of the market trends in GCC outbound tourism sector

Reasons to Buy

• Make strategic business decisions using historic and forecast market data related to the GCC outbound tourism sector
• Understand the key market trends and growth opportunities in the GCC outbound tourism sector, along with key trends and grow opportunities

For more information see – http://mrr.cm/4ZS