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)
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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.



Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large US fuel inventories and macroeconomic concerns.

Brent crude futures were down 3 cents at $76.13 a barrel by 1003 GMT. US West Texas Intermediate crude futures dipped 10 cents to $73.22.

Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in US fuel stockpiles pressured prices.

"The oil market is still grappling with opposite forces - seasonal demand to support the bulls and macro data that supports a stronger US dollar in the medium term ... that can put a ceiling to prevent the bulls from advancing further," said OANDA senior market analyst Kelvin Wong.

JPMorgan analysts expect oil demand for January to expand by 1.4 million barrels per day (bpd) year on year to 101.4 million bpd, primarily driven by increased use of heating fuels in the Northern Hemisphere.

"Global oil demand is expected to remain strong throughout January, fuelled by colder than normal winter conditions that are boosting heating fuel consumption, as well as an earlier onset of travel activities in China for the Lunar New Year holidays," the analysts said.

The market structure in Brent futures is also indicating that traders are becoming more concerned about supply tightening at the same time demand is increasing.

The premium of the front-month Brent contract over the six-month contract reached its widest since August on Wednesday. A widening of this backwardation, when futures for prompt delivery are higher than for later delivery, typically indicates that supply is declining or demand is increasing.

Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United States last week.

The dollar strengthened further on Thursday, underpinned by rising Treasury yields ahead of US President-elect Donald Trump's entrance into the White House on Jan. 20.

Looking ahead, WTI crude oil is expected to oscillate within a range of $67.55 to $77.95 into February as the market awaits more clarity on Trump's administration policies and fresh fiscal stimulus measures out of China, OANDA's Wong said.