GenX driving GCC outbound

Generation X are leading the growth in outbound travel from the GCC countries, reveals a report. The report also highlights reasons for their dominant share in the growth.

TT Bureau

The GCC outbound market is forecast to grow exponentially over the next five years, driven by Gen X travellers, according to findings by New York headquartered Research Nester. Commenting on the report, Danielle Curtis, Exhibition Director, Arabian Travel Market, said, “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. Many industry commentators are focused on Millennial and Gen Z travelers, but it is perfectly logical that Gen X would dominate the GCC outbound market value given the region’s demographics.”

Arabian Travel Market (ATM) will takes place from 6-9 May 2024 at the Dubai World Trade Centre.

Members of Gen X are also changing their lifestyles, with considerable numbers now looking for 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. To illustrate these points, Gen X will be responsible for $11.1 billion, 41 per cent of Saudi Arabia’s total outbound market value of $27 billion by 2028 according to the report. It is a similar picture in the UAE. Gen X will spend $18.2 billion, 60 per cent of the total market value of $30.5 billion by 2028. “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,” added Curtis. Overall, Saudi tourists favour Europe as a destination, accounting for $13.2 billion in market value by 2028, compared with just $7.4 billion in 2019.