MENA travel and tourism expected to reach $350b by 2027

by Dina Maaty | Published 8 months ago

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A new study by MENA Research Partners has predicted that the region’s travel and tourism sectors could reach $350b by 2027.

According to the latest Hospitality, Tourism and Leisure Report by the US-UAE Business Council, “the UAE’s hospitality market is expected to be valued at $7.6b by 2022, and travel and tourism’s direct contribution to the UAE’s total GDP is expected to reach $29.53b in 2028.”

“The UAE is situated in a strategically significant location, at the nexus of Europe, Asia and Africa. A third of the world’s population lives within a four-hour flight, and two thirds within an eight-hour flight,” highlights the report.

The report has also indicated that a primary driver of growth for tourism and leisure in the UAE will be the Expo 2020 in Dubai. Three hundred regular annual events such as the Formula One Etihad Airways Abu Dhabi Grand Prix, which draws visitors from more than 170 countries, and the Dubai World Cup, also contribute to growth in both sectors.

The boom, in turn, is due to impact the GCC’s leisure and entertainment market, which is set to grow as 45 million visitors are expected by 2021. The Kingdom of Saudi Arabia has announced an investment of $64b towards developing entertainment industry over the next decade.

One of the key regional platforms where decision-makers will discuss sector growth, among other factors, is The Leisure Show. The event will take place from September 17 to 19 at Dubai World Trade Centre as part of the Middle East Design and Hospitality Week 2019.

Also taking part in the Middle East Design and Hospitality Week 2019 is The Hotel Show Dubai, Workspace, INDEX, Surface Design Middle East, FIM and INDEX Home.

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