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FINANCIAL NEWS
GCC tourists to spend USD100b by 2018
07 Jan 2015
(MENAFN) GCC tourists’ outbound expenditure is expected to jump reach USD100 billion over the next couple of years, which will be a 54 percent increase in comparison to the over USD65 billion the gulf tourists’ spent in 2013, Emirates 24/7 reported.
The increase in spending is largely attributed to the increase in tourists going abroad due to the availability of low-cost carriers in the region, with expectations that the number of tourists to increase within the GCC countries themselves as the council prepares to introduce a Schengen-style, unified visa for tourists and businessmen from 35 foreign and Arab countries.
After the introduction of that visa, nationals from these countries will be able to visit the UAE, Saudi Arabia, Bahrain, Kuwait, Qatar, and Oman under a single visa once the system is finalized and implemented.
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