The Future of Travel and Tourism in Saudi Arabia to 2016 - New Report Available

New Consumer Goods market report from Timetric: "The Future of Travel and Tourism in Saudi Arabia to 2016"

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Boston, MA -- (SBWire) -- 05/06/2013 --According to the World Travel and Tourism Council in 2011, the direct contribution of Saudi Arabia's travel and tourism sector to the nation's GDP was 2.3%. During the review period (2007-2011), the total number of domestic trips taken by residents decreased from 28.5 million in 2007 to 23.6 million in 2011, registering a compound annual growth rate (CAGR) of -4.6%. While outbound trips increased at a review-period CAGR of 16%, inbound tourism registered decline and posted a CAGR of 0.8%. Despite a decline in both domestic and inbound tourism in 2011, expenditure increased as citizens sought international destinations for leisure and entertainment.

Key Highlights

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- According to the World Travel and Tourism Council in 2011, the direct contribution of Saudi Arabia's travel and tourism sector to the nation's GDP was 2.3%.
- During the review period (2007-2011), the total number of domestic trips taken by residents decreased from 28.5 million in 2007 to 23.6 million in 2011, registering a compound annual growth rate (CAGR) of -4.6%. While outbound trips increased at a review-period CAGR of 16%, inbound tourism registered decline and posted a CAGR of 0.8%.
- Inbound trips declined from 11.5 million in 2007 to 11.1 million in 2011, at a CAGR of 0.8%. Traveling for business purposes is common in Saudi Arabia owing to its position as one of the world's largest oil producing countries, however, uncertain global economic conditions have adversely impacted this practice. International arrivals for business purposes stood at 2.7 million in 2011 compared to 1.9 million arrivals for leisure purposes.
- The presence of two of the Islamic holy sites, Mecca and Medina, means that a large number of pilgrims from around the world annually visit Saudi Arabia to perform the rituals of Hajj and Umrah. Domestic tourism volumes are also driven by religious tourism with Mecca accounting for 43.9% of domestic trips in 2011. Religious tourism is therefore the backbone of the travel and tourism sector in Saudi Arabia and its leading revenue generator.
- During the review period the majority of inbound tourists were from neighboring nations such as Kuwait, Qatar and Bahrain. Although the number of inbound tourists from the Middle East increased at a CAGR of 7.4% during the review period, the trend is expected to decelerate over the forecast period (2011-2016) with inbound tourist volumes from the Middle East posting a CAGR of 2.9%. Efficient transportation facilities and visa-free movement for Gulf Cooperation Council (GCC) member state nationals, ensures the ease of travel within the region.
- King Abdulaziz International Airport (KAIA) is the busiest airport in Saudi Arabia. It is also the second-busiest airport in the Persian Gulf based on passenger traffic volumes. A total of 17.9 million passengers were handled at the airport in 2010. Saudi Arabia Airlines (Saudia) is the flag-carrier airline in Saudi Arabia.

Companies Mentioned in this Report: Saudi Arabian Airlines, Nasair Company LCC, Qatar Airways, Etihad Airways, EgyptAir Saudi Arabia, InterContinental Hotels Saudi Arabia, Al Faisaliah Hotel, Hilton Hotels Saudi Arabia, Starwood Hotels and Resorts Saudi Arabia, Accor KSA, United International Transportation Co, AVIS Hala Rent a Car, Hertz Car Rental Saudi Arabia, Europcar Saudi Arabia, SIXT-KSA, Al Tayyar Travel Group, Dnata-Saudi, Kanoo Travel Saudi Arabia, Elaf Group, Inc., Zahid Travel Group

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