Kuwaitis Will Spend $17 Billion on Travel
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A report by ResearchAndMarkets, which specializes in market research around the world, expected that the outbound tourism market from Kuwait will generate revenues of approximately $17 billion by 2028, up from about $12 billion in 2019, at a compound annual rate of 18%.
The report indicated that the airline tickets sector is expected to acquire the largest share of the tourism and foreign travel sector, and may generate revenues of $7 billion by 2028, given the increase in the number of direct and indirect flights from Kuwait abroad. He predicted the activity of the tourism and travel market from the Gulf abroad until 2028, in conjunction with the growing economies in Saudi Arabia, the Emirates, Qatar and Kuwait, and the increase in the income of the population of those countries, which will lead to a direct increase in recreational activities, including travel abroad. The report pointed out that the travel and tourism market abroad in the Gulf is affected by the duration, type, age group, method of booking, and type of expenditure. The market is divided into airline tickets, hotels, and travel insurance, recalling that the movement of travel from the Middle East to abroad increased over the past years preceding the Corona pandemic, due to various factors, most notably the low costs of air travel, the availability of suitable offers and packages for travel, and the increase in the number of direct flights to many international destinations. By about $5.9 billion until 2028, compared to more than $3.7 billion in 2019 due to the increase in flights.
August 17, 2021
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News: Kuwaitis Will Spend $17 Billion on Travel
A report by ResearchAndMarkets, which specializes in market research around the world, expected that the outbound tourism market from Kuwait will generate revenues of approximately $17 billion by 2028, up from about $12 billion in 2019, at a compound annual rate of 18%.
The report indicated that the airline tickets sector is expected to acquire the largest share of the tourism and foreign travel sector, and may generate revenues of $7 billion by 2028, given the increase in the number of direct and indirect flights from Kuwait abroad. He predicted the activity of the tourism and travel market from the Gulf abroad until 2028, in conjunction with the growing economies in Saudi Arabia, the Emirates, Qatar and Kuwait, and the increase in the income of the population of those countries, which will lead to a direct increase in recreational activities, including travel abroad. The report pointed out that the travel and tourism market abroad in the Gulf is affected by the duration, type, age group, method of booking, and type of expenditure. The market is divided into airline tickets, hotels, and travel insurance, recalling that the movement of travel from the Middle East to abroad increased over the past years preceding the Corona pandemic, due to various factors, most notably the low costs of air travel, the availability of suitable offers and packages for travel, and the increase in the number of direct flights to many international destinations. By about $5.9 billion until 2028, compared to more than $3.7 billion in 2019 due to the increase in flights.
August 17, 2021
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