*Tourism may play a greater role in Qatar’s economy
Tourism is expected to play a greater role in Qatar’s economy as the sector’s share to the country’s GDP will be nearly QR133.5bn in 2028, a report by the World Travel & Tourism Council (WTTC) has shown.
This will be more than double the share of travel and tourism to Qatar GDP last year.
In 2017, the total contribution of travel and tourism to Qatari GDP stood at QR59.6bn (10%) of GDP, the London-based forum for the global travel and tourism industry said in its ‘2018 Annual Economic Report’ .
Travel and tourism investment in Qatar may exceed QR14.5bn, or 4.2% of total investments in the country, in 2028, the report said.
Last year, the travel and tourism investment stood at QR6.2bn, or 2.4% of total investment.
According to the World Travel & Tourism Council, the sector would support more than 284,000 jobs in Qatar in 2028 (13.4% of total).
In 2017, the total contribution of travel and tourism to employment, including jobs indirectly supported by the industry was 9.2% of total employment (175,000 jobs).
In Qatar, visitor exports are expected to grow by 9.1% per year over the next 10 years, and account for QR102.7bn in 2028, 17.1% of total. Visitor exports generated QR44.6bn 14.3% of total exports in 2017.
By 2028, international tourist arrivals are forecast to total 6,240,000.
Leisure travel spending is expected to rise by 8.1% per year to QR66.3bn in 2028, the World Travel & Tourism Council said.
Business travel spending in Qatar is expected to rise by 9.1% annually to QR47.4bn in 2028, it said.
Leisure travel spending (inbound and domestic) generated 60.4% of direct travel and tourism GDP in 2017 (QR31.2bn) compared with 39.6% for business travel spending (QR20.5bn), the report said.
Domestic travel spending is expected to grow by 5.6% in 2018 to QR7.6bn, and rise by 3.9% annually to QR11.1bn in 2028.
Domestic travel spending generated 13.9% of direct travel and tourism GDP in 2017 compared with 86.1% for visitor exports (i.e. foreign visitor spending or international tourism receipts), World Travel & Tourism Council said.
As one of the world’s largest economic sectors, travel and tourism creates jobs, drives exports, and generates prosperity across the world. In its annual analysis of the global economic impact of travel and tourism, the sector is shown to account for 10.4% of global GDP and 313mn jobs, or 9.9% of total employment, in 2017.
Travel and tourism, which already supports one in every ten jobs on the planet, is a dynamic engine of employment opportunity, WTTC noted.
“Over the past ten years, one in five of all jobs created across the world has been in the sector and, with the right regulatory conditions and government support, nearly 100mn new jobs could be created over the decade ahead. Over the longer term, forecast growth of the travel and tourism sector will continue to be robust as millions more people are moved to travel to see the wonders of the world,” points out WTTC president & CEO Gloria Guevara Manzo.