Future Market Insights (FMI) released its recent report titled, “GCC Ecotourism Market Analysis and Opportunity Assessment, 2014 – 2020”. According to the report, with crude oil prices dropping steadily on account of political and economic turmoil in GCC, a shift is required for the region to maintain its current account surplus.

(TRAVPR.COM) LONDON, UK - March 2nd, 2015 - GCC ecotourism market is driven by factors such as increasing government funding for tourism-related initiatives, region-specific ethnic attractions, thematic sites & zones, city marketing and advanced regional infrastructure. However, the low ecotourism awareness, limited photography options with regard to landscape and scenery, extreme climate and political and economic instability in the region is expected to restrict the ecotourism market during the forecast period.

Segment-wise, the nature ecotourism accounted for over 60.6% of the GCC ecotourism market share in 2014 and is expected to increase significantly at a CAGR of 4.7% in the near future. Generic ecotourism is the fastest growing segment, increasing at a CAGR of 10.5% between 2015 and 2020.

Europe was the highest contributor in terms of international tourist with 53%, as the resultant, tourist inflow in GCC is expected to contribute significantly to the growth of the ecotourism market. The highest GVA contributor is the hotel stay, accounting for approximately 40% of the total share, followed by shopping and leisure at 22%.

Country-wise, Saudi Arabia accounted for the largest revenue percentage at 30.9%, compared to other member nations in 2014. Growth of the ecotourism market remained flat between 2012 and 2013 due to economic and political turmoil.

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