τίτλος : By 2027, The Middle East and North Africa tourism industry is hoped to reach $350bn
Σύνδεσμος : By 2027, The Middle East and North Africa tourism industry is hoped to reach $350bn
By 2027, The Middle East and North Africa tourism industry is hoped to reach $350bn
The Middle East and North Africa tourism industry is anticipated to reach $350bn by 2027, as per MENA Research Partners, a leading research company in the region. The UAE and Saudi Arabia are hoped to grow at a CAGR of 5% in the coming 10 years. At present, the UAE and KSA account for around 50% of the MENA tourism market.
The travel and tourism sector in the GCC at the present surpasses global tourism indicators related to growth and spending. For the GCC, the projected CAGR of tourism contribution to GDP is 5%, in comparison to 3.8% worldwide. Moreover, the growth in leisure and business spending in the coming 10 years is anticipated to increase at an annual rate of 4.6% and 5.4% respectively, in comparison to worldwide averages of 4.1% and 3.2%.
The main regional industry drivers are the leisure and religious tourism sectors. In 2017, leisure tourism churned out approximately $115bn to the region with Dubai luring 15 million visitors and being ranked as the world’s sixth most visited cities. UAE is anticipated to account for 90% of leisure tourism in the area following the opening of multiple leisure attractions. Also, the MENA region has one of the highest demands for religious tourism due to its holy places. Saudi Arabia attracts millions of pilgrims each year for Haj & Umrah journeys.
To quote Anthony Hobeika, Chief Executive Officer at MENA Research Partners (MRP), “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.”
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