GCC Event Logistics Market Size

GCC Event Logistics Market Analysis

The GCC Event Logistics Market size is estimated at USD 1.37 billion in 2024, and is expected to reach USD 2.10 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).

• The Gulf Cooperation Council (GCC) is rapidly becoming an international hub for business, entertainment, and sporting events. In 2020, Expo 2020 took place in Dubai, and in the year2022, major events such as the FIFA World Cup (FIFA), Formula 1 GP (Formula 1), WAM (World Aquatics Championships), and Asian Games (Asian Games) were conducted in the GCC region. This has revitalized the industry, with many tourists visiting the GCC for these events. Saudi Arabia has also set itself the objective of becoming a center for meetings and business events.
• FIFA 2022 was the first global football tournament to be held in Qatar, and logistics have become an increasingly important aspect of the tournament. Qatar’s bid for the 2022 World Cup was based on a promise of a “Festival of Football,” which was the first of its kind in the region. Qatar’s extensive planning and preparation for the tournament is essential to ensure that this promise is kept. Qatar’s logistics needs were taken good care of, as the country is expected to host tens of thousands of spectators, officials, and athletes from all over the world. MATAR researched air logistics in Qatar, as well as the MATAR 2022 Airport Operations strategy, which was initially announced in 2021 and named GWC, a company based in Qatar that specializes in a wide range of supply chain services, such as warehousing and freight, commercial logistics, fine arts, and event logistics, as the primary operational provider for logistics in Qatar.
• In 2021, the corporate event management sector in Saudi Arabia saw a significant increase in revenue, with 65% of the sector's revenue coming from events held in Saudi Arabia. This is likely to remain the case in the years to come as the demand for corporate event management services in Saudi Arabia continues to grow. To meet this demand, the Kingdom had invested in modern stadiums and hosted important sports events.
• In 2019, Saudi Arabia's sports industry contributed USD 6.9 billion to the country's GDP. Saudi Arabia's sports sector is projected to contribute USD 6.4 trillion over the next decade. The government has pledged to invest over USD 2 billion in the sector by 2024, as well as USD 670 billion in the private sector to support sports clubs.