GCC Hospitality Industry to witness steady growth after sharp post pandemic recovery, says Alpen Capital

GCC Hospitality Industry to witness steady growth after sharp post pandemic recovery, says Alpen Capital

DUBAI – Alpen Capital’s latest hospitality sector report for the GCC projects the industry will return to pre-pandemic levels in 2022, registering a 74.8% year-on-year growth and reaching a revenue of USD 26.3 billion. It adds the industry is expected to grow with a Compounded Annual Growth Rate (CAGR) of 6.6% up to 2026.

UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Hospitality Industry report on Wednesday, August 3rd featuring detailed studies and forecasts on the hospitality sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned hospitality companies in the region.

The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen Capital; Hala Matar Choufany, President - Middle East, Africa & South Asia, HVS Yahia Idris, Principal, Nova International. Sameena Ahmad, Managing Director, Alpen Capital moderated the discussion.

Factors like increasing tourist arrivals, mega events like EXPO 2020 Dubai and the upcoming FIFA World Cup 2022 and easing of visa regulations will lead to the industry’s growth. With regional governments actively supporting the development of business, leisure, and entertainment centers through significant investments, the GCC is becoming a hub of action with