GCC outbound travel and tourism market is set to reach USD 75.64 billion by the end of 2024

The GCC outbound travel and tourism market is set to reach $75.64 billion by the end of 2024 and $181.48 billion by the end of 2036, with a CAGR of 7.7% during the forecasted period. Europe is the most visited region, with 7 out of 10 trips there being with family.

New data from The Visa Services, a leading Dubai-based visa services expert, reveals a 20% year-over-year (YoY) increase in Schengen visa applications from UAE residents during Q2 2024. This surge highlights Europe’s enduring popularity as a travel destination, capturing a 65% share of all travel requests processed by The Visa Services. The United States follows closely at 25%, with Asia-Pacific countries like Singapore, Australia, and China accounting for 15%.

The findings come amidst a peak travel season, driven by pleasant European weather and major events like EURO 2024, the Paris Olympics, and Taylor Swift’s Eras Tour. According to The Visa Services’ data, Schengen visa requests typically rise during summer months (June-September) as residents seek to combine vacations with these exciting events. Popular European destinations include Spain, Greece, Germany, Italy, France, Portugal, and Switzerland.

“The UAE has a very diverse population, and most nationalities require visas to enter Schengen countries (except for Emiratis) and the USA,” explained Anastasia Yanchenko, Commercial Director of The Visa Services. “Our data indicates that applicants during this period were Russians (35%), followed by Indians (23%), Filipinos (16%), Egyptians (7%), Jordanians (6%), and South Africans. We cater to a diverse clientele, including families (58%) and individuals seeking our services for themselves or their families.”

While most Schengen visas are processed within 15 calendar or working days, some countries may take up to 45 days. In 2023, the rejection rate for Schengen visas for UAE residents was 22.44%, while the approval rate stood at 77.56%. At the same time, the duration of Schengen visas is typically around 6 months, but this can vary based on several factors, including documents, previous travel history and obtained a Schengen, job and salary, current place of residence (real estate, children’s schools), as well as financial documents showing financial stability.

“In 2023, most visas issued were for single-entry travel only (74%), with some for 3-6 months multiple entry (21%),” concluded Yanchenko. “In 2024, the trend has shifted, with 45% of visas issued for 3-6 months, 30% exceeding a year, and 25% for travel only. This year, the most popular visa purposes are travel (70%), business (20%), study (7%), and medical (3%).”

The company has seen impressive growth, with the number of completed applications tripling last year. This surge, which aligns with the growth of outbound tourism, flourishing GCC trade with other countries, and well-developed airline networks within the GCC, underscores The Visa Services’ reliability and experience in the industry.