According to the World Travel & Tourism Council’s 2017 Economic Impact Report (EIR), the Middle East Travel & Tourism sector is predicted to produce approximately 3.6 million new jobs over the next decade.
Travel and tourism GDP is expected to expand at a 7.7 % annual pace between 2022 and 2032, more than three times the region’s overall GDP growth rate of 2.5 %, to about US$ 540 billion (10.1 % of the total economy).
The industry’s GDP contribution is predicted to increase by more than 36% to over US$ 256 billion by the end of 2022, accounting for 6.5 % of overall economic GDP, while employment in the sector is expected to increase by 8.7 % this year to over six million jobs.
The annual study of the global tourism association also reveals more hope for the region’s Travel & Tourism GDP, which may virtually approach pre-pandemic levels by 2023 – just 2.5 % lower than in 2019.
Julia Simpson, WTTC President & CEO, said: “After a very difficult couple of years, the future is looking brighter with Travel & Tourism expected to create 3.6 million new jobs across the Middle East over the next decade.Looking to this year and the next, the outlook is more positive with both GDP and employment set to almost reach pre-pandemic levels.”
Since the outbreak of the pandemic, governments throughout the Middle East have demonstrated unwavering support for travel and tourism.
Throughout the crisis, Saudi Arabia in particular has demonstrated outstanding leadership, advocating for greater regional and global cooperation and investing heavily in travel and tourism not only in the kingdom but globally.
The global tourism organization thinks that this assistance and dedication will hasten the revival of a sector that is essential to economies and livelihoods worldwide.