Thursday, August 8, 2024
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The WTTC’s 2024 report highlights Qatar’s Travel & Tourism sector setting new records in GDP contribution, job creation, and domestic spending this past year.
According to the World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR), Qatar’s Travel & Tourism sector has reached unprecedented milestones over the past year. The sector’s contribution to GDP, job creation, and domestic traveler spending have all hit new records.
In 2024, the travel and tourism industry is projected to contribute a historic QAR 90.8 billion to Qatar’s economy, accounting for 11.3% of the total GDP. This robust performance is also set to sustain over 334,500 jobs nationwide, representing 15.8% of the country’s total workforce.
International tourist spending is expected to reach a record-breaking QAR 69.6 billion this year, while domestic spending is projected to total QAR 12 billion.
In support of these achievements, various industry-specific working groups have been formed, engaging in regular meetings to address challenges and utilize private sector expertise to drive growth in the Travel & Tourism sector.
Last year, the sector’s GDP contribution surged by 31%, reaching a historic high of QAR 81.2 billion, which makes up 10.3% of Qatar’s total economic output. This emphasizes the sector’s essential role in the national economy.
The sector also proved to be a major employment driver, adding over 20,300 new jobs and bringing the total number of positions to nearly 286,000, or one in eight jobs in the country.
Domestic visitor spending reached an all-time high of QAR 1.4 billion. Although spending by international visitors rose by nearly 40% year-over-year to QAR 60.4 billion, it still fell short of the previous peak by QAR 1.2 billion.
Looking to the future, the WTTC projects that by 2034, the sector will increase its annual GDP contribution to over QAR 135 billion, accounting for nearly 13% of Qatar’s economy, and will generate close to 458,000 jobs, with one in five residents employed in the sector.
Julia Simpson, WTTC President & CEO, commented, “Despite international visitor spending not yet reaching its previous peak, the government’s collaborative efforts are set to propel Qatar’s Travel & Tourism sector forward. This will solidify its crucial role in the national economy and promise a future of growth and opportunity.”
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