GCC Countries Boost Tourism Revenue as Visitor Spending Set to Hit $223.7 Billion by 2034
In 2023 alone, international visitors spent US$135.5 billion across the region, marking a sharp 28.9% rise compared to pre-pandemic levels in 2019. This surge highlights the region's accelerating momentum in attracting global tourists and boosting its non-oil economy.
Tourism's growing economic role is also reflected in its projected contribution to total exports, which is expected to climb to 13.4% by 2034.
The report also points to continued progress across key tourism indicators, underscoring the GCC's strategic focus on the sector as part of its broader economic diversification efforts.
Safety and security remain major strengths, with the GCC topping the 2024 Safety and Security Index for the Middle East and North Africa. All member states scored above the regional average of 5.86 out of 7.
In addition, GCC nations ranked among the top six in the Arab region for passport strength, further supporting their push to attract international travelers and strengthen global mobility.
These milestones affirm the GCC's growing position as a leading destination in the global tourism landscape.
News Source: Emirates News Agency
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'We expect the mature markets of Japan, Singapore and Hong Kong to focus on enhancing operational efficiencies while grappling with the challenges posed by global monetary policy shifts. On the other hand, emerging markets, particularly the Chinese mainland, India and Thailand are expected to continue to grow, bolstered by strong economic fundamentals and supportive regulatory frameworks', noted Catherine Chen. Cushman & Wakefield's report also noted that data centre and hospitality REITs are expected to remain highly visible on investors' radar, driven by AI advancements and recovery in the tourism sector respectively. Additionally, M&A activity is likely to pick up as players seek scale and diversification to better weather market fluctuations. Please click here to download the report. Hashtag: #Cushman&Wakefield The issuer is solely responsible for the content of this announcement. Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn (
