As per the report available on ResearchAndMarkets. com, Qatar shall mark a compound annual growth rate (CAGR) among the highest in the GCC events and exhibition market. The country’s market is expected to grow strongly over the coming years as a result of improving domestic and international business and leisure travellers, large infrastructural developments plans and sound government backing for the country’s market.
The report stresses on growth performance of Qatar, the country has shown a remarkable growth path and it will continue till 2029. This has been boosted by new infrastructural development; for instance, QNCC and DECC has boosted Qatar’s capacity to host large events. The organization of international events such as world cup 2022 has further increase its influence on the global map, has drawn more international attention and has paved way in boosting the event sector in the country.
Qatar MICE totals $1,67 billion at 2023 and potential to add $3,51 billion by 2030. This growth is 11. 2 % CAGR in from the year 2023 to 2030 to denote that Qatar become more involved with the GCC event industry.
Shining a light on this direction, the report from ResearchAndMarkets. com sheds a light on a phenomenon more general to the GCC, with digital technology and big data analytics applied to the processes of planning and launching events. This is expected to increase the convenience of adopting emerging technologies since the impact of AI is predicted to increment by 20-30 percent annually in the region.
Such events and exhibitions collectively form the GCC’s event and exhibition market which is fairly B2B dominated and is expected to dominate even in future. Technology advancement is another reason as well as the strategic position of GCC countries play a role in this particular sector. Also, speaking of event tickets in Qatar, the market volume will be approximately $111. 90 million in 2024 and will grow at a CAGR of 6. 36% from 2024-2028 thus proving the demand for live entertainment and cultural events.
All in all, Qatar has been a recommended player in the GCC events and exhibition market; besides, the country’s successful major events hosting and strategic investment demonstrate the rapid growth in the accomplishment of this market in the future years.
