Qatar Achieves Record Tourism Revenues, Welcomes 5 Million Visitors in 2024

Qatar’s tourist destinations experienced a 38% increase in total expenditure compared to the previous year. (QNA)
Qatar’s tourist destinations experienced a 38% increase in total expenditure compared to the previous year. (QNA)
TT
20

Qatar Achieves Record Tourism Revenues, Welcomes 5 Million Visitors in 2024

Qatar’s tourist destinations experienced a 38% increase in total expenditure compared to the previous year. (QNA)
Qatar’s tourist destinations experienced a 38% increase in total expenditure compared to the previous year. (QNA)

Recent data from Qatar Tourism reveals that the country achieved record-breaking figures in its tourism sector in 2024, with total tourism revenues reaching QAR 40 billion ($10.7 billion). Visitor numbers soared to nearly 5 million, reflecting a 25% increase compared to 2023.

The data shows that Qatar’s tourism industry experienced a 38% rise in total spending compared to the previous year. Meanwhile, the hospitality sector marked a historic achievement by recording 10 million hotel nights for the first time ever, with projections of an additional 35,000 nights by year-end.

Qatar Tourism also noted its organization of over 100 business events, 120 entertainment activities, and 80 sports events in 2024. Key highlights included hosting the AFC Asian Cup, the Qatar Grand Prix for Formula 1, and a thriving 2024–2025 cruise season, all of which drew substantial visitor interest.

GCC nationals accounted for 41% of the total visitors, with the remaining visitors coming from a variety of international markets. Saudi Arabia topped the list of source countries, followed by India, the United Kingdom, Germany, and the United States.

Regarding modes of entry, 56% of visitors arrived by air, 37% by land, and 7% by sea, highlighting ongoing enhancements in access and connectivity.

Saad Al-Kharji, Chairman of Qatar Tourism and Visit Qatar, stated that exceeding the milestone of 5 million visitors underscores the success of the country’s tourism strategy.

“This 25% annual growth reflects our dedication to advancing the tourism sector and achieving our ambitious targets of doubling visitor numbers and increasing tourism’s contribution to GDP by 2030,” he said.

Eng. Abdulaziz Ali Al-Mawlawi, CEO of Visit Qatar, attributed these achievements to the collaborative efforts of all stakeholders.

“We have cemented Qatar’s position as a global leader through hosting major international events and launching innovative initiatives. We look forward to a promising future for our tourism sector,” he said.



Saudi Market Rises as Investors Absorb Tariff Shock

Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
TT
20

Saudi Market Rises as Investors Absorb Tariff Shock

Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)

Gulf markets trimmed their losses on Monday, with the Saudi stock index erasing earlier declines and turning positive, driven by gains in major stocks such as ACWA Power and Aramco.

Despite a sluggish start, influenced by tariff concerns, the Tadawul index managed to overcome these challenges, closing 1.1% higher.

In contrast, other Gulf bourses saw limited declines, with Qatar and Kuwait exchanges registering drops, while the Muscat bourse also experienced a slight dip.

These movements come amid a broader retreat in global stock markets, still reacting to US President Donald Trump’s recent decision to impose tariff hikes.

The Saudi stock market rose 1.1%, closing at 11,194 points, up 117 points. The market recorded active trading, with total turnover reaching approximately 10.6 billion riyals ($2.8 billion), the highest since December 2024.

Despite a sharp decline of over 400 points earlier in the session, which brought the market to a low of 10,657 points, it successfully recovered to end the day higher. On Sunday, the market had dropped by more than 800 points.

ACWA Power led the gainers, jumping 6.8% to close at 331 riyals. Aramco shares also rose 1%, reaching 25.25 riyals.

Meanwhile, Al Takaful Cooperative saw a 5% increase, closing at 131 riyals, following the company’s announcement of cash dividends for shareholders.

These movements come as markets absorb the shock of the tariff hike, with Gulf financial markets showing mixed performance following sharp declines in reaction to Trump’s decision to raise tariffs.