Qatar to have highest CAGR in Gulf region’s events and exhibition market by 2029
Qatar, one of the most favourite destinations for the GCC events and exhibition market, has shown signs of significant growth.
According to a recent report by ResearchAndMarkets.com, the world’s largest market research store, Qatar’s events and exhibition market will have the highest compound annual growth rate (CAGR) in the region by 2029.
According to the report, the Qatari events and exhibition market is growing fast due to several factors — rising number of businesses and leisure travellers, investment in infrastructure development, and active government support.
Qatar is expected to be one of the fastest-growing economies in the Gulf Cooperation Council region during the forecast period.
An earlier report by Global Information Inc., the world’s first market research aggregator, had noted that Qatar’s meetings, incentives, conferences, and exhibitions (MICE) market size was valued at $1.67bn in 2023 and expected to reach $3.51bn by 2030, exhibiting a compound annual growth rate (CAGR) of 11.2% from 2023 to 2030.
Qatar’s state-of-the-art venues like the Qatar National Convention Centre (QNCC) and the Doha Exhibition and Convention Center (DECC) have improved its ability to host large events.
The country’s hosting of the FIFA World Cup Qatar 2022 also significantly improved its global standing.
The report added that adoption of digital technology and big data analytics is a major trend in the GCC events and exhibitions market due to various factors, including data-driven decision-making, GCC’s focus on innovation, improved ROI, and enhanced attendee experience.
“The countries in the Gulf Cooperation Council are known as regional leaders with passion and ambition in technology adoption.So their governments are taking initiatives to invest more in emerging technologies and digital infrastructure. The impact of AI is expected to increase by 20–30% annually in Middle Eastern countries,” said the report, according to The Peninsula.
The report also noted that the B2B segment will hold the largest market share in the GCC, while mixed segmentation is expected to grow faster in exhibition-type segmentation.
“The GCC regions are more important for B2B exhibitions due to their strategic location and proximity to other growing economies in Europe, Africa, and Asia. B2B events have more opportunities to get tailored and specific feedback from the target audience, which can help people bring about the needed changes,” ResearchAndMarkets.com wrote in its report.
Another recent report from Statista noted that Qatar’s event ticket market was projected to reach $111.90m in 2024. The revenue is expected to show an annual growth rate of 6.36% (between 2024 and 2028), resulting in a projected market volume of $143.20m by 2028.
“The event ticket market in Qatar has been experiencing significant growth in recent years, driven by customer preferences for live entertainment and cultural events. Qatar has seen a surge in demand for event tickets across various categories, including sports, music concerts, theatre performances, and festivals,” Statista said.
The report added that customers in Qatar have shown a strong inclination towards attending live events and experiencing the thrill of being part of a large audience.
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