Hotels gear up for sector growth in Middle East
February 11th, 2008The Middle East’s hospitality sector is set for sustained expansion as the World Trade Organisation (WTO) predicts that the region can expect 68.5 million visitors in the next 15 years - an annual growth of 6.7 per cent.
The Middle East already draws five per cent of total tourists every year, making it the world’s fourth most popular destination.
Tourism in the area is growing at the fastest rate in the world according to the WTO, and governments in the region are keen to build on this success story.
"With massive budget surpluses many economies in the region are diversifying and investing heavily in tourism and attracting key hotel operators. This accounts to a certain degree for the unprecedented level of regional hotel development and presents industry suppliers with unique market opportunities unrivalled anywhere else in the world," said Maggie Moore, exhibition director of The Hotel Show, the leading hospitality exhibition in the Middle East.
The region’s biggest winner is Dubai, where visitor numbers doubled between 1999 and 2005 to six million, and the Dubai government - armed with a 2005 budget surplus of US$1.58 billion - has set its own target of attracting 15 million visitors by 2010.
In anticipation of this tourist explosion, Intercontinental Hotels has announced plans for 20 new Holiday Inns, while Easy Group is committed to opening 38 hotels in the region by 2011.

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