GCC hospitality industry to return to pre-pandemic levels in 2022, Alpen Capital says – The National

GCC hospitality industry to return to pre-pandemic levels in 2022, Alpen Capital says – The National

The GCC's hospitality industry will return to pre-coronavirus levels in 2022, boosted by an increase in tourist arrivals, easing visa regulations and the hosting of big events such as the coming Fifa World Cup in Qatar.

The industry's revenue is expected to grow by 74.8 per cent a year to $26.3 billion in 2022, as regional governments invest heavily in developing business, leisure and entertainment centres, said a report by Alpen Capital that was released on Wednesday.

“Revival in business activity as economies reopened post-pandemic led to M&A [merger and acquisition] activity stirring up again in the region,” said Alpen Capital managing director Sanjay Bhatia.