PHOTO
GCC states such as Oman have been locked in a drive to diversify their economies. Image Courtesy: Omani Ministry of Heritage and Tourism
Gulf oil producers seeking to diversify their sources of income away from unpredictable crude exports have set a target to achieve nearly $188 billion in tourism revenues in 2030, a Gulf official has said.
Tourists who visited the six-nation Gulf Cooperation Council (GCC) spent a record high of nearly $110 billion in 2023, said Abdullah Al Rubai, Head of the GCC’s Human and Environmental Affairs Sector.
Nearly 68.1 million tourists visited the six members in 2023 and almost 27 percent of them were GCC citizens, he told Qatar’s Alsharq newspaper this week.
“The number of tourists who visited the GCC in 2023 accounted for nearly 52.9 percent of the 128.7 million targeted in 2030,” Al-Rubai said.
“They spent a total $110 billion during that year…the figure accounts for nearly 58.7 percent of the $188 billion targeted in 2030.”
GCC states of Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and the UAE have been locked in a drive to diversify their economies by developing other sectors, mainly industries, finance and tourism.
The six members have reported great progress in the industrial sector, mainly petrochemicals, refined petroleum products and aluminum.
Industry sources said the six countries, which control over a third of the world’s extractable oil deposits, have pumped more than $150 billion into their petrochemical and aluminum industry and more funds are expected to be invested.
Alsharq quoted Abdul Aziz Al-Mawlawi, CEO of 'Visit Qatar,' a government tourism agency, as saying there are plans to set up new tourism projects in the GCC.
He said such projects were discussed by tourism officials at talks in Kuwait last week and that they are intended to support the sector within economic diversification.
“We have agreed to support a set of projects that will support the tourism sector in the six members...we now believe that tourism is one of the main pillars on which we should rely in our plans to diversify sources of income and stimulate our economies given its growing role in GDP growth,” he said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
