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Opportunities and Threats for Travel and Tourism in the GCC
Market |
Travel |
Report Type |
Market Research |
Country |
Global |
Published |
1 January 2010 |
Number of Pages |
0 |
Download |
|
Immediate |
|
Publisher |
Euromonitor |
While world GDP showed 2.3% real growth in 2008, the GCC region posted 6.7% growth. Qatar's GDP rise was significant, at 16.8%, helped by extensive oil and gas reserves. Kuwait depends heavily on its petroleum resources. It posted comparatively poor GDP growth of 2.5% in 2007, although this accelerated to 6.3% in 2008. The economic downturn has confirmed the importance of economic diversification away from oil resources, which are susceptible to price volatility. Saudi Arabia, Bahrain and Oman have benefited from diversifying their economic activities towards the finance, banking, hospitality and tourism sectors, posting smaller declines in GDP growth rates. Unemployment rates have increased across the GCC. While efforts are being taken to maintain local employees, expatriate workers are struggling to hold on to their positions and are gradually leaving the country. The UAE had a 3.3% unemployment rate in 2008, up from 2.8% in 2003. Four out of 10 expatriate workers are estimated to have left Dubai in 2009 indirectly affecting travel to visit friends and relatives.
Opportunities and Threats for Travel and Tourism in the GCC report offers a comprehensive guide to the market at an international level. It looks at travel accommodation, transportation, car rental, tourist attractions and retail travel.
Opportunities and Threats for Travel and Tourism in the GCC report identifies the leading companies and offers strategic analysis of key factors influencing the market, including background information on disposable income, annual leave and holiday taking habits.
Buy online to access strategic market analysis and an interactive statistical database of market size data for travel accommodation, transportation, car rental, travel retail, tourism attractions and health and wellness tourism, tourism inflows and outflows, tourism spending and company and brand shares.
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
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