Friday, August 9, 2024
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Qatar’s booming tourism industry is set to contribute 11.3% to the national GDP in 2024, reflecting its significant impact on the economy and job market.
International travelers are anticipated to spend a significant QAR 69.6 billion in Qatar this year, with domestic spending projected to reach QAR 12 billion, according to the World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR). This report underscores the robust growth of Qatar’s Travel & Tourism sector, which experienced substantial increases in GDP contribution, job creation, and domestic travel spending last year, all surpassing previous records.
The Travel & Tourism industry is expected to contribute an impressive QAR 90.8 billion to Qatar’s economy in 2024, making up 11.3% of the nation’s total GDP. Moreover, the sector is projected to support over 334,500 jobs across the country, accounting for 15.8% of the total workforce.
The year ahead is set to see a significant rise in spending by international visitors, with projections suggesting a record QAR 69.6 billion, while domestic spending is expected to reach QAR 12 billion. This growth reflects the ongoing efforts to enhance Qatar’s appeal as a top global destination, driven by investments in infrastructure, marketing, and tourism-related services.
To sustain and further accelerate this growth, a variety of collaborative initiatives have been launched. These include the formation of dedicated working groups that span multiple industries. These groups will engage in regular meetings to address emerging challenges and harness private sector expertise to propel the Travel & Tourism sector forward.
Last year marked a milestone for Qatar’s Travel & Tourism industry, with the sector’s GDP contribution soaring by 31% to a record-breaking QAR 81.2 billion. This figure represented 10.3% of Qatar’s total economic output, highlighting the sector’s vital role in the national economy.
In addition to its economic impact, the Travel & Tourism sector has proven to be a critical source of employment. It created over 20,300 new jobs last year, bringing the total number of jobs in the sector to nearly 286,000, which equates to one in every eight jobs across the country.
Domestic visitor spending also reached an all-time high of QAR 1.4 billion, showcasing the strength of local tourism. Although spending by international visitors grew by nearly 40% year-on-year to QAR 60.4 billion, it fell slightly short of the previous peak by QAR 1.2 billion, indicating room for further growth.
Looking to the future, the WTTC forecasts that by 2034, the sector’s annual GDP contribution will surpass QAR 135 billion, accounting for nearly 13% of Qatar’s economy. The sector is also expected to employ almost 458,000 people nationwide, meaning that one in five residents will be working in the industry. This projection underscores the long-term potential of Qatar’s Travel & Tourism sector as a cornerstone of the national economy and a key driver of employment and economic diversification.
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