Arabian Travel Market Return back to Dubai in 2021

SourceAl Bawaba
SectorFinancial Markets
CountryGCC

Now in its 27th year and working in collaboration with DWTC and Dubai’s Department of Tourism and Commerce Marketing (DTCM), the theme of the show next year will be “A new dawn for travel and tourism,” spotlighting the current state of the industry and more importantly, what the future holds. It will also look at emerging trends and how innovation can drive the industry forward. Supporting ATM’s theme, a recent Colliers report — MENA Hotel Forecasts, estimates that 2021 will be a year of recovery, based on the assumption that hotel performance across the region is already improving. Major destinations such as Dubai and Cairo are leading the way with estimated full year 2021 occupancy levels of 68 percent and 65 percent, respectively. They were closely followed by Abu Dhabi, Riyadh, Jeddah, Muscat and Amman, with average occupancies of 58 percent, 56 percent, 51 percent, 48 percent, and 45 percent respectively. Overall, average year-on-year growth of the 20 destinations researched was 47 percent. Prior to the pandemic, the direct contribution of travel and tourism to the Middle East’s GDP was predicted by the World Travel and Tourism Council, to reach $133.6 billion by 2028.

So, given subdued oil prices and a general economic ...read more...