86307
The digitalization wave had its biggest effect on the travelers.
The digitalization wave had its biggest effect on the travelers.

Tourism to Earn MENA $350b by 2027

Tourism to Earn MENA $350b by 2027

The tourism industry in the Middle East and North Africa region is expected to generate $350 billion by 2027, according to MENA Research Partners, a leading research company in the region.
The UAE and Saudi Arabia are expected to grow at a compound annual growth rate (CAGR) of 5% over the next 10 years. Currently, the UAE and Saudi Arabia account for around 50% of the MENA tourism market, Trade Arabia reported.
The travel and tourism sector in the (Persian) Gulf Cooperation Council region now outperforms global tourism indicators in terms of growth and spending. The projected CAGR of tourism contribution to GDP is 5% for the (P)GCC, compared to 3.8% worldwide. Additionally, the leisure and business spending growth for the next 10 years is expected to increase at an annual rate of 4.6% and 5.4% respectively, compared to worldwide averages of 4.1% and 3.2%.

  Key Drivers
The key regional industry drivers are the leisure and religious tourism sectors. Leisure tourism generated approximately $115 billion to the region in 2017 with Dubai attracting 15 million visitors in 2017 and being ranked as the sixth most visited city in the world. The UAE is expected to account for 90% of leisure tourism in the area following the opening of multiple leisure attractions. The MENA region also has one of the highest demands for religious tourism due to its holy places. Saudi Arabia attracts millions of pilgrims each year for hajj and Umrah journeys.
Moreover, medical and business tourism are emerging in the region, with the Middle East currently considered one of the fastest growing markets for these segments.
Anthony Hobeika, chief executive officer at MRP, said: "Increasing healthcare costs in western countries are the primary drivers of this growth, boosting the medical tourism sector in the Middle East. Dubai and Abu Dhabi are the main cities to attract medical tourism due to their large network of international hospitals. Advanced healthcare centers and research departments allow Dubai and Abu Dhabi to be ranked the 16th and 25th for the medical tourism index respectively."
In the wider region, Egypt and Lebanon are also making names for themselves as medical tourism destinations thanks to their advanced medical markets and affordable pricing.
Nurturing the cultural heritage also spurs growth for tourism in the region with the opening of the Louvre museum and several other cultural projects in Abu Dhabi.
The extensive use of internet across platforms has shifted the fundamental structure of the industry demand toward online booking for tickets and tours. The digitalization wave had its biggest effect on the travelers from the UAE and Saudi Arabia with more than half of their travelers booking their trips online.

Short URL : https://goo.gl/sMpDQg
  1. https://goo.gl/bw8hVC
  • https://goo.gl/jDiUXt
  • https://goo.gl/1GHcCr
  • https://goo.gl/GqtKA8
  • https://goo.gl/JM3xVt

You can also read ...

Iran Offers On-Arrival Visa to Indian Citizens , Iran Offers On-Arrival Visa to Indian Citizens
Iran is to start granting visas on arrival to Indian citizens...
World Cup Success Boosts Croatia's Tourism
More and more tourists have been prolonging their stay in...
Figures on Travel Currency  Outflow Unrealistically Small
A top official with Iran's Cultural Heritage, Handicrafts and...
Drive to Fix Flaws Weighing on Handicrafts Market
Isfahan Handicraft Home is seeking to help boost the sector by...
New Campsite  in Western  Eco-Region
 The first phase of a new eco-campsite in Kareyak Village,...
ICHHTO Takes Full Charge of License Issuance for Tour Firms
Director of the tourism department at Iran's Cultural Heritage...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus