GCC’S GROWING LEISURE AND HOSPITALITY INDUSTRY
The GCC hospitality and leisure market remains active, with a steady inflow of investments to construct new hotels and tourist facilities. With over 2,000 upcoming hospitality and leisure projects, GCC countries are on a path toward economic diversification and sustainable growth, offering a magnified opportunity to win business in this region. Already valued at US$178.8 billion, its hospitality, leisure, and recreation industries are only set to grow, driven by rising visitor numbers, expanding populations and the hosting of major global events like Expo 2020.
UPCOMING PROJECTS IN THE REGION
GCC governments are adding hospitality and leisure projects to their portfolio of upcoming properties with mega developments such as the Hospitality District in Dubai’s Mall of the World, Craft & Heritage Village in Makkah, Tourism Resort project in Duqm, the Address Hotel Jabal Omar in Makkah, and Phase 1 of the Red Sea Touristic Development in Tabouk.
IMPACT OF MEGA EVENTS IN THE REGION
Preparation works for hosting major events such as Expo 2020, as well as strategic tourism planning by the GCC governments, are supporting the construction of new hotels, leisure centers, and entertainment venues.
RELAXING VISA CONTROLS TO FACILATE TOURISM AND TRAVEL
Typically, vacation travelers account for the largest share of tourism spending, and often select holiday destinations based on the cultural and natural attractions of an area, as well as beaches and resorts, and sports events. Relaxed visa policies in some of the GCC countries will facilitate holiday, leisure and business travel as more nationalities can obtain visas on arrival which will improve overall tourism spending in the region.
KEY INDUSTRY STATS & GROWTH DRIVERS
contribution of tourism to UAE's GDP in 2017
value of UAE's leisure-recreation and hospitality projects
visitors expected for the Dubai Expo 2020
number of leisure-recreation and hospitality projects in the GCC
tourist arrivals projects for the Middle East by 2020
Value of the GCC leisure-recreation & hospitality sector