Saturday, July 13, 2024 Kuwait, a small but wealthy country, is nestled at the tip of the Persian Gulf, bordered by Saudi Arabia and Iraq. Renowned for its vast oil reserves, which fuel its high-income economy, Kuwait holds a significant position in the global energy market. The capital, Kuwait City, is known for its modern architecture, ranging from skyscrapers like the Al Hamra Tower to the iconic Kuwait Towers.
The country has a rich cultural heritage, seen in its well-preserved maritime traditions and vibrant arts scene. Kuwaitis enjoy a high standard of living and a blend of traditional values and modern lifestyle, making it a unique Middle Eastern gem. Kuwait’s Travel & Tourism Sector Set to Surge: Predicts $1,088 Million Revenue by 2024 By 2024, Kuwait’s travel and tourism industry is projected to bring in revenues of $1,088 million.
This sector is forecasted to grow at an annual rate of 4.02% from 2024 to 2028, culminating in an expected market volume of $1,274 million by the end of 2028. In 2022, international tourist arrivals in Kuwait reached around three million, showing a slight increase from the previous year.
In comparison, 2019 saw the highest number of international tourists, totaling 8.6 million. Kuwait’s tourism industry is set to experience significant expansion in the next five years, as tourism revenues are anticipated to hit around $21.
4 billion by 2028. This represents a growth from roughly $18 billion in 2023, equating to an average annual growt.