Hospitality Vision – Middle East Performance Review
Conquering new heights
Despite the financial turmoil of the past months, global tourism is thriving and is expected to generate some US$8 trillion during 2008. There will be years of growth ahead in the emerging markets of India and China, but the big success story today remains in the Middle East.
Across the region, cranes still dominate the skyline, with hotel brands expanding their property portfolios at a ferocious speed. In Dubai, around US$14.3 billion will be spent in the next five years on tourism infrastructure, such as roads, a metro system and a water taxi scheme, while the tallest building on earth – the Burj Dubai – just gets taller.
So far in 2008, the region’s hotels are enjoying some of the world’s highest occupancy figures, strongest revPAR and best average room rates, and with predictions that international visitor numbers to the Middle East will grow between 6–10% in 2008, compared to a global rate of 3-4%, there seem to be few clouds to spoil the region’s sunny outlook.
For further information, download our publication Hospitality Vision – Middle East Performance Review. (PDF, 812KB)
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