A new report by Alpen Capital has found that Qatar's travel and tourism spending revenue will reach $16.5 billion in 2021.
The number of hotel rooms in Qatar is the fastest growing among the Gulf Cooperation Council (GCC) countries, growing at a compound annual growth rate (CAGR) of 10.1% between 2016 and 2021, according to Alpen Capital's “GCC Hospitality Industry”. Report.
According to the data, the total number of rooms in the Gulf country increased by 11,918 rooms from 2016 to 37,085 last year. Despite difficult economic conditions, Doha "showed resilience" and added 10,243 hotel rooms in 2020 and 2021.
As of last year, the nation reportedly occupied 4.5% of hotel rooms in the GCC region.
As Qatar prepares to host the 2022 FIFA World Cup, several massive projects are underway. The projected number of hotel rooms in Qatar in 2022 is 13,300, of which 80% of the supply is expected to be in the four- or five-star hotel category.
After the major sporting event ends in December, a sharp increase in supply is predicted to put downward pressure on occupancy rates. However, the high profile provided by hosting the event, the development of important tourism infrastructure, the lifting of sanctions and the recovery of global travel are all expected to support the growth of Qatar's tourism sector.
As it seeks to position itself as a commercial hub in the GCC, Doha is trying to ride on the success of World Cup 22 by hosting several business forums and conferences.
