Saudis top Qatar’s 5m tourist arrivals in 2024

More than 5 million tourists visited Qatar in 2024, with the presence of more than 1 million Saudis reflecting close ties between the neighboring countries.
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Updated 14 January 2025
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Saudis top Qatar’s 5m tourist arrivals in 2024

Saudis made up the largest proportion of tourists to Qatar in 2024 at nearly a quarter of arrivals, a Visit Qatar spokesperson told Arab News.

The peninsular state bordering Saudi Arabia is pushing to boost its tourism numbers in the years following the FIFA World Cup 2022, which brought millions of visitors from around the world.

“Visitors from Saudi Arabia remain the top source market for international visitors this year, contributing around a quarter of all arrivals,” said Dr. Buthaina Mohammed Al-Janahi, media relations and communications senior manager at Visit Qatar.

More than 5 million tourists visited Qatar in 2024, officials said, with the presence of more than 1 million Saudis reflecting close ties between the neighboring countries three years after the end of a diplomatic rift.

Both countries regularly host bilateral official visits and enjoy booming trade, which has seen around $10 billion worth of contracts signed, Reuters reported.

Qatar aims to raise its tourist numbers to 6 million annually, raise tourism spending to 12 percent of GDP and create 250,000 jobs by 2030.

The World Cup saw 3.4 million people from around the world attending — the biggest influx of visitors to Qatar in the country’s history.

There was much speculation at the time about how the extensive infrastructure built for the tournament would go on to serve the country’s needs after the 3.4 million had left.

One stadium — the 974 stadium — was built to be eventually disassembled and relocated. Another, Al-Bayt stadium, is set to be converted into a luxury hotel and shopping center to serve Qatar’s growing tourist numbers as well as residents.

Today, the streets of Doha are still adorned with banners from 2022, thus far the peak of the city’s tourism.

With the unprecedented global visibility that the World Cup offered, officials are hoping to build on the success of the tournament, with the number of hotel rooms exceeding 40,061 in 2024.

Having made history as the city where Lionel Messi first led his Argentine squad to victory, football fans from South America are still flocking to the popular Souq Waqif to pick up a version of the bisht cloak that was draped around the striker’s shoulders by Sheikh Tamim bin Hamad Al-Thani.

New developments like Habitas Ras Al-Abrouq — developed by government-owned Qatar Airways and launched early 2024 — aim to attract high-wealth tourists.

The hi-tech Msheireb Downtown planned city is another draw for tourists, with its hydrogen-powered tram and luxury eateries.

The district is based in one of Qatar’s most historic areas, and the redevelopment was opened in 2021.

In a prime example of how the country deploys opulent spending in order to reimagine its heritage, the Katara Cultural Village offers such attractions as the Blue Mosque and the marble amphitheater.


GIB Capital strengthens regional leadership with $2.1bn ICM transactions

Updated 15 December 2025
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GIB Capital strengthens regional leadership with $2.1bn ICM transactions

GIB Capital, one of the region’s leading financial and investment banking advisers, has announced the successful execution of three major international capital markets transactions in November, underscoring the firm’s growing influence and distribution strength across global debt markets.

In a single month, GIB Capital acted in joint lead manager roles across three landmark issuances — supporting clients in the banking, aviation and government sectors — and attracting an aggregate of more than $4.6 billion in investor demand from the Middle East, Europe, Asia, the UK and the US. These transactions, which collectively raised over $2.1 billion, further demonstrate the confidence international investors place in GCC issuers and the strategic value GIB Capital brings to each mandate.

The firm began the month by serving as joint global coordinator, joint lead manager and bookrunner on the inaugural ICM issuance for GIB — Saudi Arabia. The $500 million perpetual non-call 5.5-year additional Tier 1 instrument was priced on Nov. 5 and generated an impressive $1.3 billion in orders, achieving a 2.6-times oversubscribed orderbook. The strong participation from regional, UK, Asian and European investors reflect the bank’s robust credit fundamentals and GIB Capital’s ability to deliver global reach for its clients.

On the same day, GIB Capital also acted as joint lead manager and bookrunner for AviLease’s first-ever ICM transaction — an $850 million bond offering that attracted exceptionally strong interest, closing in at over 3.7 times oversubscribed orderbook. The transaction drew participation from a diverse pool of regional, US, UK, European and Asian investors, highlighting the appeal to Saudi Arabia’s fastest-growing aviation leasing company. 

Further reinforcing its leadership in Islamic finance, GIB Capital concluded the month as joint lead manager and bookrunner on the government of Sharjah’s $750 million sukuk issuance, priced on Nov. 18. The transaction secured $2 billion in orders, representing a 2.6-times oversubscribed orderbook, with interest coming primarily from regional, UK and European accounts. This issuance marked government of Sharjah’s first US dollar public issuance in 2025 and benefited from strong investor confidence toward Sharjah’s credit story and in GIB Capital’s advisory expertise.

Commenting on the milestone month, Osamah Mohammed Shaker, CEO of GIB Capital, said: “These three successful issuances reflect the depth of trust our clients place in GIB Capital and the strength of our distribution network across global markets. The robust oversubscriptions and high-quality investor participation are clear indicators of the continued confidence in GCC credit stories and the resilience of the region’s economic outlook. We remain committed to delivering best-in-class execution, innovative structuring, and strategic advisory that enable our clients to access international liquidity efficiently and competitively.”

With a growing portfolio of successful mandates, GIB Capital continues to expand its presence as a leading provider of debt capital markets solutions, capital markets advisory, mergers and acquisitions, debt advisory, asset management and brokerage services. Combining deep regional insight with global investor connectivity, the firm remains committed to supporting clients across sectors with innovative, tailored, and high-impact financial solutions.