A sizable portion of Gen X are also changing their lifestyles seeking a more sustainable work life balance
The GCC outbound market is forecast to grow exponentially over the next five years driven by Gen X travellers, says a survey by global trade show Arabian Travel Market (ATM).
According to Research Nester, a New York-based company, the rapid increase in outbound travel from the GCC countries is being driven by Generation X, or people born between 1965 and 1980.
The report highlights numerous reasons why this generation has a dominant share of the GCC’s outbound market, particularly in the UAE and Saudi Arabian markets.
Danielle Curtis
“Within an age range of approximately 43 years to 58 years, many Gen Xers hold senior positions within companies and as such tend to travel overseas regularly on business trips. In addition, with responsibility comes reward and therefore many have high earning potential and disposable income. Many successful entrepreneurs at this stage in their careers also have built significant wealth and can afford to travel frequently,” says Danielle Curtis, Exhibition Director, Arabian Travel Market.
Gen X will be responsible for USD 11.1 billion or 41 pc of Saudi Arabia’s total outbound market value of USD 27 billion by 2028, according to the report. It is a similar picture in the UAE. Gen X will spend USD 18.2 billion, representing 60 pc of the total market value of USD 30.5 billion by 2028.
The statement adds that overall, Saudi tourists favour Europe as a destination, accounting for USD 13.2 billion in market value by 2028, compared with USD 7.4 billion in 2019. Other top destinations for GCC travellers include UK, Germany, Italy, Switzerland, US, India, Australia, Malaysia, Singapore and South Africa.
According to the survey, a sizable portion of Gen X are also changing their lifestyles seeking a more sustainable work life balance. This often means spending more leisure time with their families, including holidays and combining business with leisure, which is significantly growing the bleisure segment of travel.
“Many industry commentators are focused on millennials and Gen Z travellers, but it is perfectly logical that Gen X would dominate the GCC outbound market value given the region’s demographics, particularly expatriate senior management,” says Curtis.
“It is also worth considering that as this generation begins to age and subsequently retire, naturally it will be millennials who will begin to dominate outbound market share in the decade ahead,” she adds.
The report highlights numerous reasons why this generation has a dominant share of the GCC’s outbound market, particularly in the UAE and Saudi Arabian markets
The trend of increasing outbound GCC business has certainly not gone unnoticed by many international destinations, the organisers add. It says that to support the outbound sector still further, ATM is also organising a market insights summit, covering India, China and Latin America, as well as the latest generational travel trends.
“In 2023 we welcomed 76 national pavilions covering approximately 55 pc of the total show floor space, with 1,350 participating companies. This year with the return of national pavilions from Spain and China, as well as a number of African destinations, we have allocated additional floor space to accommodate this growth,” adds Curtis.
The statement adds that in line with its theme, ‘Empowering Innovation: Transforming Travel Through Entrepreneurship,’ the 31st edition of ATM, from May 6-9 at the Dubai World Trade Centre, will once again host policymakers, industry leaders and travel professionals from across the Middle East and beyond. Held in conjunction with Dubai World Trade Centre, ATM 2024’s strategic partners include Dubai’s Department of Economy and Tourism (DET), Emirates as Destination Partner, IHG Hotels and Resorts as official Airline Partner, Al Rais Travel as official Hotel Partner, Official DMC Partner and Rotana Hotels and Resorts as Registration Sponsor.
