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| The Middle East-North Africa tourism and hospitality industry is expected to generate over $487 billion in revenue by 2032. (Source: Argaam) |
WTTC forecasts that the tourism industry will contribute about $307 billion to the Middle East economy , up nearly 25% compared to 2019, the pre-Covid-19 pandemic level. Total spending by international tourists to the region is expected to reach nearly $194 billion, while spending by domestic tourists is estimated at about $113 billion.
“Saudi Arabia aims to attract 150 million tourists per year by 2030, while Egypt aims to welcome 30 million international visitors by 2028,” said Amr El Nady, CEO of the Middle East-Africa region and head of the global hotel and real estate division of the US-based Jones Lang Lasalle (JLL).
Major international events in the region such as Expo 2030 and the 2034 World Cup are expected to strongly boost hotel demand in Saudi Arabia.
Meanwhile, in the United Arab Emirates (UAE), the hotel market in Dubai is expected to add about 10,000 new rooms by 2027.
Oman's tourism industry is expected to contribute 5% of Gross Domestic Product (GDP) by 2030 and 10% of GDP by 2040, surpassing the transport-logistics industry to become the country's second largest economic sector, after oil and gas.
In Saudi Arabia, Riyad Capital Financial Group has just announced a cooperation with Saudi Arabia Railway Company (SAR) to launch a real estate fund worth 1.6 billion USD to build a multi-functional complex in Al Rusifah district, Mecca, including hotels, commercial areas and residential areas.
For its part, Morocco also confirmed plans to invest $10 billion to expand the national railway network ahead of the 2030 World Cup.
The new high-speed railway, worth about 53 billion Dirhams ($14.4 billion), will start in the coastal city of Kenitra and run 430 km south to Marrakesh.
Source: https://baoquocte.vn/nganh-du-lich-khach-san-trung-dong-bac-phi-tham-vong-thu-ve-hon-487-ty-usd-vao-nam-2032-332237.html
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