It could be a new favorite destination for Hungarian tourists

By: Trademagazin Date: 2024. 07. 09. 10:12

In recent decades, the countries of the Persian Gulf have undergone a significant economic transformation, where tourism plays an increasingly important role in order to reduce dependence on oil and gas exports. This strategy entails not only economic but also social and cultural changes.

The importance of economic diversification

The global tourism sector, which quickly recovered from the COVID-19 pandemic, is forecast to grow by 5.8% annually between 2022 and 2032, significantly outpacing global GDP growth. This dynamic growth creates an opportunity for countries that previously benefited mainly from hydrocarbons to increase their economic stability and create new jobs.

New destinations and opportunities

The United Arab Emirates, Qatar, Bahrain and Oman have taken active steps to promote tourism by building new hotel complexes and tourist attractions. Qatar is emerging as a cultural center, Bahrain is trying to position itself as a financial hub, while Oman is redefining itself as a safe and “terrorism-free” tourist destination.