CAGR expects growth of more than 8% for the travel and tourism industry of Qatar from 2024 to 2028

The rich cultural heritage of Qatar and modern amenities create a compelling blend that caters to a broad spectrum of people’s interests.

According to a comprehensive report by Statista, the tourism and travel industry of Qatar is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 8.31 per cent from the year 2024 to 2028. This hopeful forecast suggests a promising outlook for Qatar’s economy and underscores its commitment to becoming a global tourism hub.

The aggregated revenue in the tourism sector is expected to be at least $1356m (QR4937.20m) this year. Meanwhile, it is reported that the project market vowel will reach up to $1856m (QR6757.70m) by the year 2028. The report highlights several factors contributing to the anticipated growth in the travel and tourism sector of Qatar. This industry is quite known for variegating the economy of Qatar and many tourists are often seen visiting Qatar notably for several business and investment purposes.

Firstly, the government’s strategic investments in infrastructure, and the ongoing development of world-class hotels and resorts, are expected to intensify the appeal of tourism and attract many international tourists. These initiatives aim to place Qatar as a top destination for both leisure and business travellers. According to a report, “The largest Travel and Tourism market is the Hotels market with a projected market volume of $635.10m (QR2312.40m) in 2024.” The report further adds, “In the Vacation Rentals market, the number of users is expected to amount to $1645K (QR5989.44K) users by 2028.” In the year of 2023, over 4 million visitors travelled to Qatar.

Furthermore, Qatar’s successful bid to host major sporting events, such as the FIFA World Cup in 2022, plays a pivotal role in enhancing the tourism of the country. During the FIFA World Cup in 2022 around 1.5 million fans arrived in Doha. The influx of sports enthusiasts and global media coverage is anticipated to escalate interest in Qatar as a travel destination, fostering sustained growth in the sector.

Bookings are significantly increasing as stated by several travel experts. The rich cultural heritage of Qatar and modern amenities create a compelling blend that caters to a broad spectrum of people’s interests. However, according to the report, the user penetration in the year 2024 is 77.4%, which is expected to increase by 90.7% in the upcoming 4 years. The report also added that by the year 2028, aggregated 87% of the total revenue will be generated by online sales in the leisure sector.