Lack of skilled professionals could affect Gulf tourism prospects, says Mashreq Bank official

Lack of skilled professionals could affect Gulf tourism prospects, says Mashreq Bank official

“As the GCC advances on its tourism ambitions, it needs to pay equal attention to the ‘softer’ aspects of development – people, technology, and sustainability,” said Cyril Lincoln, Executive Vice-President and global Head of Real Estate Finance and Advisory at Mashreq Bank. In the GCC alone, there are more than $143 billion worth of leisure and hospitality projects planned and under construction, according to data from MEED Projects. Nearly $28 billion of this is already on projects under construction, including the Guggenheim Abu Dhabi Museum; Saudi Arabia’s King Salman Park Royal Arts Complex; the Six Flags Theme Park in Riyadh; and luxury hotels by the likes of The Red Sea Development Company and Katara Hospitality. The future pipeline is considerable. Over $115 billion worth of tourism projects are in various pre-execution stages, indicative of the expected rise in demand for skilled labour. “The challenge now is not the absence of opportunity, but perhaps the lack of manpower and technical skillsets,” said Lincoln. “COVID-19 sparked unemployment across travel and tourism not just in the region, but globally. As the industry recovers, there are clear indications of pent-up demand – but not all workers may choose to return.” The majority of leisure