Latest news with #oftheGulf
Hi Dubai
14-04-2025
- Business
- Hi Dubai
Gulf Tourism Booms: Sector Hits $247 Billion, Set to Soar Further by 2034
The Gulf's travel and tourism sector has marked a significant leap, contributing approximately 11.4% to the region's GDP in 2024 — a value of US$247.1 billion, according to the latest figures released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat). This represents a 31.9% growth in sectoral contribution compared to pre-pandemic levels in 2019, highlighting a robust rebound and steady expansion of the industry across the Gulf region. Globally, the sector accounted for 2.2% of total GDP in 2024, placing the Gulf well ahead of the international average. The outlook remains promising, with projections indicating that by 2034, tourism could make up 13.3% of the GCC's GDP — an estimated $371.2 billion. The average annual growth rate for the sector over the next decade is forecasted to exceed 4.2%. Intra-GCC travel has also seen a remarkable upswing. From 2019 to 2023, the number of tourists moving between Gulf countries grew at an average annual rate of 41.5%. In 2023 alone, 26.5% of all international tourists arriving in the GCC were from within the region — underlining the strength of domestic and regional tourism. These figures underscore the Gulf's rising prominence as a global tourism hub and reflect the region's strategic investments in infrastructure, hospitality, and travel experiences tailored for both regional and international visitors. News Source: Emirates News Agency
Zawya
14-04-2025
- Business
- Zawya
Travel, tourism sector accounts for 11.4% to Gulf's GDP: GCC-Stat
MUSCAT - The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent, with a value of US$247.1 billion. The data also demonstrated that the growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent 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 percent. It also suggested that the sector's contribution to the Gulf's GDP is expected to reach 13.3 percent in 2034 insomuch as $371.2 billion. The average annual growth rate of the sector's contribution from 2024 to 2034 is expected to exceed 4.2 percent. On the other hand, statistics indicated that the average annual growth rate in the number of tourists travelling between GCC countries from 2019 to 2023 reached 41.5 percent, which accounted for 26.5 percent of the total international tourists arriving in GCC countries in 2023.
Arabian Business
03-03-2025
- Business
- Arabian Business
GCC labour force hits 31.8mn, women's participation rises sharply since 2011: GCC-Stat
Data issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the total labour force in GCC countries reached 31.8 million, representing 54.2 per cent of the total population. Male workers accounted for 78.7 per cent, while females made up 17.6 per cent. GCC labour force insights The number of working citizens in the GCC stood at 5.6 million, constituting 23.4 per cent of the total labour force, with 60 per cent males and 40 per cent females. GCC-Stat's data also showed a 600,000 increase in the number of working women in the region since 2011. The data indicated that the government sector is still the largest employer of Gulf workers, with the percentage of employed citizens working in the public sector reaching 83.5 per cent compared to 14.2 per cent in the private sector. Statistics also revealed that GCC countries' citizens work mainly in the services sector, particularly in public administration activities. GCC countries have introduced policies to localise the workforce, such as the GCC Common Market and the Comprehensive Development Strategy, which aim to address imbalances in population structure, workforce distribution, and industrial development. These policies aim to increase the national workforce's contribution to the industrial sector. Additionally, the population strategy seeks to enhance the role of women in development, balance population and workforce structures, and improve national workforce training programmes.
