Ecotourism refers to the holidaying in a natural environment without damaging the environment or disturbing habitats. It is a part of environmental conservation and understanding the needs of people and improve their life of quality. Moreover, ecotourism also involve understanding and learning of the history of the other cities and countries and protecting the historical landmarks. […]
GCC Ecotourism Market: Growth Prospects and Insights Through 2027
Ecotourism refers to the holidaying in a natural environment without damaging the environment or disturbing habitats. It is a part of environmental conservation and understanding the needs of people and improve their life of quality. Moreover, ecotourism also involve understanding and learning of the history of the other cities and countries and protecting the historical landmarks.
The GCC Ecotourism market is projected to surpass US$ 630.0 million by the end of 2027, in terms of revenue, growing at CAGR of 3.3% during the forecast period (2020 to 2027).
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Drivers
Growing preferences among travel lovers for ecotourism in GCC countries is primarily fueling the market growth of ecotourism. According to World Travel and Tourism Council (WTTC), in Saudi Arabia, the total contribution of travel and tourism was 154.1 billion dirhams (US$ 41.95 billion) or 11.3% of GDP in 2017. It is forecast to rise by 4.9% in 2018. By 2028, the sector will represent 10.6% of GDP. Thus, growing ecotourism in the GCC region is expected to propel the market growth.
Many GCC countries are converting their cities into a tourist destination is expected to propel the market growth of ecotourism. Dubai, Doha, and Manama are some of the major countries that are focusing on enhancing the quality of place, diversity, and culture, in order to make it a tourist destination. Thus augmenting these cities as tourist places in order to appeal tourist is expected to foster the market growth of the ecotourism in GCC.
Market Opportunities
Increasing visiting of tourist from a convenient location such as Europe and the U.S. to GCC region is expected to bring new market opportunities. Increasing focus of GCC government to offer different adventure and wild-life related packages and activities and also enhance the shopping experiences of the consumers is expected to augment the market growth. All these factors are expected to fuel the market growth of ecotourism in GCC.
Increasing hospitality sectors such as hotels and restaurants in the GCC region is projected to provide immense opportunities to the market of ecotourism in GCC. According to the data from Alpen Capital, the GCC hospitality market is projected to reach US$ 32.5 billion in 2022 from an estimated US$ 22.9 billion in 2017. Moreover, between 2017 and 2022, GCC hotel supply is expected to grow at a CAGR of 4.01%.
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Market Trends
Changing lifestyle and increasing disposable income of the consumer is increasing their spending on travel activities. This is expected to be a major trend in the market. A growing number of inbound tourist coupled with the growing focus of the government on promoting environmental conservation and nature protection is also expected to bolster the market growth of ecotourism in GCC over the forecast period.
The growing popularity of cruising in the region is expected to be a major trend in ecotourism in GCC. Moreover, the growing focus of the travelers to indulge in adventurous outdoor activities are again expected to foster the market growth of the ecotourism in GCC. In addition to this growing number of golf courses and beach resorts to attract urban tourist attractions is further anticipated to augment the market growth of ecotourism in GCC.
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