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The latest research from the World Travel & Tourism Council (WTTC) in 2024 has shown that Qatar’s Travel & Tourism sector reached unprecedented levels last year. The sector’s contribution to GDP, employment, and domestic spending all exceeded previous records.
In the past year, the GDP contribution from Travel & Tourism surged by 31%, hitting a historic high of QAR 81.2BN, accounting for 10.3% of Qatar’s total economic output. This underscores the sector’s vital role in the national economy.
Moreover, the sector was a major driver of employment, adding over 20,300 new jobs, bringing the total to nearly 286,000 jobs nationwide, equivalent to one in every eight jobs in the country.
Domestic spending by travelers also hit a new peak at QAR 1.4BN.
Despite hosting the FIFA World Cup the year before and seeing a nearly 40% increase in spending by international visitors to QAR 60.4BN, it fell short of the previous peak by QAR 1.2BN.
Looking ahead to 2024, the Travel & Tourism sector is poised to make its largest-ever contribution to Qatar’s economy at QAR 90.8BN (11.3% of the total), supporting over 334,500 jobs (15.8% of the total workforce) across the country.
International traveler spending is expected to rise significantly this year, with projections indicating a record expenditure of QAR 69.6BN, while domestic spending is forecasted to reach QAR 12BN.
These achievements highlight the government’s dedication to fostering collaboration between the public and private sectors to enhance Qatar’s Travel & Tourism offerings, creating diverse and immersive experiences for visitors.
As part of these collaborative efforts, specialized working groups spanning various industries have been established, with regular meetings scheduled to address challenges and leverage private sector expertise to drive growth in the Travel & Tourism sector.
Julia Simpson, WTTC President & CEO, said; “Qatar’s Travel & Tourism sector is poised to break records this year, highlighting its significance as a leading destination in the Middle East.
“While international visitor spending is lagging behind the previous peak, the government’s efforts and emphasis in collaboration will propel Qatar’s Travel & Tourism growth, setting the stage to play a crucial role in the national economic landscape, promising a future defined by prosperity and opportunity.”
How Will the Next Decade Unfold?
By 2034, the global tourism industry is anticipated to boost its yearly GDP contribution to over QAR 135 billion, constituting nearly 13% of Qatar’s economy. This growth trajectory is expected to create employment opportunities for nearly 458,000 individuals throughout the country, with one out of every five residents finding employment within the sector.
In the broader Middle Eastern context,
The Travel & Tourism sector in the Middle East witnessed a remarkable 25% growth in 2023, amounting to nearly $460 billion. This surge translated into almost 7.75 million jobs and a 50% increase in international expenditure, reaching $179.8 billion. Moreover, domestic spending by visitors surged by 16.5%, crossing the $205 billion mark.
According to WTTC forecasts, the Travel & Tourism sector in the region is poised for sustained growth throughout 2024, with the GDP contribution projected to hit $507 billion. Job opportunities are expected to increase to 8.3 million, international visitor spending is forecasted to reach $198 billion, and domestic visitor spending is anticipated to exceed $224 billion.
The post Qatar’s Travel & Tourism Sector Sets New Record Propels Economy with QAR 81 Billion Boost appeared first on Travel And Tour World.
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