Sunday, June 16, 2024 The members of the Gulf Cooperation Council (GCC) have unveiled plans for a common tourist visa set to launch by late 2024. This visa will enable seamless travel across its six member states: Saudi Arabia, Kuwait, Qatar, the UAE, Oman, and Bahrain. The initiative aims to bolster the tourism sector across the region, streamlining access to key destinations such as Dubai’s urban splendor, Saudi Arabia’s historic Diriyah, and the Qatari desert’s Bedouin experiences.
However, Iraq is not participating in this agreement. The GCC’s hospitality market is projected to surge, with an estimated growth rate of 7.5% annually from 2023 to 2028, anticipated to reach a market value of around US$ 48.
1 billion by the end of the forecast period. This growth is attributed to concerted efforts by GCC states to prioritize hospitality to diversify their economies. Growth in hospitality revenue across the individual nations is expected to vary between 6.
9% and 11.0%. Economic forecasts by the International Monetary Fund (IMF) suggest that the GCC will experience a growth of 2.
4% in 2024 and 4.9% in 2025, driven by a robust non-hydrocarbon sector characterized by strong domestic demand and significant capital inflows. The region’s non-hydrocarbon GDP growth is projected to remain steady at 3.
6% in 2024 and rise to 4.5% in 2025. The introduction of a joint visa is poised to enhance international tourist inflows, particularly benefiting Bahrain, Kuwait, and Oman, which .