$90bn tourism projects 'coming up in GCC'

$90bn tourism projects 'coming up in GCC'
Dubai: Sun, 16 Mar 2008


With around $90 billion in tourism-related developments currently being built, the Gulf is set to enjoy growth rates hoteliers in other parts of the world will only be able to dream about, says an expert.

'We know the Middle East is a fast developing market but survey after survey is revealing the region continuing to grow on a grand scale, unmatched elsewhere and bucking negative economic trends in other parts of the world,' said Maggie Moore, exhibition director of 'The Hotel Show 2008.'

A premier supplies exhibition to the region’s hospitality sector, The Hotel Show, will be held in Dubai from June 8 to 10.

'Throughout the GCC countries of Bahrain, Oman, Kuwait, Qatar, the UAE and Saudi Arabia the massive development potential of the travel and tourism industry continues to be recognized with record levels of investment in supporting infrastructure,' said Moore.

The database of ProLeads, which monitors construction across the Arabian Gulf, identifies 185 individual projects worth $90 billion in hotels, resorts, sports facilities, malls, marinas, theme parks and related leisure and tourism facilities currently under construction or fully committed, she added.

Moore cited a recent hotel benchmark survey by consultants Deloitte showing the Middle East hotel industry as one of the fastest-growing regions in the world with revenues per available room (REvPar) growing 17 per cent in 2007, exceeding both Asia Pacific and Europe, with a promising outlook for the years to come.

The Hotel Show and its associated Seven Star Conference provide a future perspective on key trends and drivers shaping the travel and tourism sector in a region where the industry's share of investment in relation to gross domestic product has risen from 8.5 per cent in 2000 to a forecast 11 per cent in 2008.

The UN World Tourism Organisation (UNWTO) also sees an optimistic outlook for tourism in the Middle East.

'UNWTO identifies the Middle East as the tourism success story of the decade with the region emerging as a strong destination and visitor numbers climbing much faster than the world total,' said Moore.

'Regional confidence remains high for 2008, despite economic problems elsewhere.'

In addition, the World Travel and Tourism Council forecasts that the Middle East to be the only region to remain on course for 5 per cent growth in travel and tourism this year. This is in spite of the concerns about the impact of deteriorating economic conditions in North America, Africa and Europe.

The Hotel Show will showcase the latest products, services and technologies for the hospitality industry.

Organised by dmg world media Dubai, the Hotel Show is one of the most important dates in the international industry calendar and visitors include regional owner-operators, decision makers from international five-star hotel chains, architects and interior designers.

In excess of 16,500 square metres of exhibition space has been reserved for 2008, to accommodate surging demand from both international and regional exhibitors and is already heading towards a sell-out.-TradeArabia News Service