Qatar’s travel industry projected to touch US$7.7 bn in 2014
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Qatar’s travel market is expected to grow steadily from US$5.4 billion in 2012 to US$7.7bn in 2014, signifying a healthy economy backed by the government’s focus on investing in tourism development, a new research released by Global Travel Market Research firm PhoCusWright has revealed.
According to projections by PhoCusWright, the online travel market in Qatar will see a significant boost, rising from US$944 million in 2012 to an estimated US$1.6 bn in 2014, owning 9.9% of the Middle Eastern online market share.
Wafiq al Wahidi, general manager, Amadeus Qatar, said: “The figures are indicative of the strong growth potential of the overall travel and tourism sector in Qatar. Undoubtedly, the sector will see further advancement on the back of ambitious development plans by the government to transform Qatar’s travel industry.”
The report cited that while internet penetration in Qatar stands at 82%, mobile penetration is among the highest in the world at 182% and smartphone penetration is at 75%, online shopping is still considerably low. However, it will to grow steadily, driven by government initiatives, retailer investment and, most importantly, a savvy, young population open to trying new technologies. It was further revealed that gross bookings made by Online Travel Agencies (OTAs) are expected to rise from US$342 m in 2012 to US$548 m in 2014.