VIDEC Consultants, a travel research and M&A advisory firm, has announced the results of a comprehensive study that has revealed the significant opportunities offered by the travel market in the GCC and Egypt. The study relied on a complex methodology based on analyzing the volume of demand for travel-related services, with a focus on the role of online travel agencies in this sector.
The study targeted the aviation and hotel sectors in Saudi Arabia, the UAE, Qatar, Kuwait, Oman, Bahrain and Egypt. It focused in particular on evaluating the role of intermediary agencies in the online travel sector, while providing strategic insights that highlight the remarkable growth of the travel market in the UAE. The study also included a detailed analysis of the volume of bookings made through local points of sale, which supports future expansion plans in the region.
“FIDIC is pleased to present this research, which is a key reference to explore the huge potential of the travel market in the GCC and Egypt. The UAE, for example, is a strong market with promising potential, thanks to its large expatriate population from South and Southeast Asia, making it an ideal destination for regional and global brands alike,” said Virendra Jain, CEO and Co-Founder, FIDIC.
“The UAE is strategically located as a vital travel hub, bringing together a diverse range of airlines and destinations, making it an ideal environment for online travel agencies. The primary mission of these agencies is to provide multiple options that provide travelers with the highest levels of comfort and flexibility,” he added.
The results of the research conducted by “FIDIC” revealed that the value of the online air travel services agency market in the UAE amounted to approximately $566 million in 2023, representing about 45% of the online aviation market.
Based on its distinctive products and technology, MakeMyTrip, a leading company in the online travel services agency market, has succeeded in achieving remarkable success by implementing its unique strategy in the UAE.
This success has resulted in it gaining a strong leadership position in the UAE’s online travel services market, with a market share of 44%. Cleartrip is followed by one of the most prominent competitors in the Middle East and Africa region, reflecting the increasing competition in this vital sector within the UAE market. The study expects the size of the online travel agency market in the UAE to double to reach 1.1 billion US dollars by 2028, as a result of the growing expansion of services directed to new customer categories, including providing innovative solutions in the field of traditional retail services and customized services for institutions, which enhances the development and dynamism of the sector.
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