Analysis Tourism Oman tourism goals face an uphill road to success Mounting competition from Saudi Arabia, limited connectivity and a low profile are among the challenges to Oman’s progress on meeting its 2040 tourism goals. “We’ve done great [as an industry] but I think we can do better,” said Amir Golbarg, senior vice-president of operations, Middle East and Africa, at Minor Hotels. “With its landscape, people, […] May 29, 2023
Video length: 03.55 Video Tourism Cruise Saudi sets sail for $200m tourism windfall Cruise Saudi estimates it will contribute $200 million in revenues to the kingdom by 2035, as the Public Investment Fund-owned company develops ports for cruise passengers. In a video interview with AGBI its chief asset development and port operations officer Miguel Reyna said: “On average, when a ship comes to the port, 35 percent of […] May 29, 2023
Opinion Tourism Saudi Arabia’s tourism ambitions are making waves However the kingdom still has a lot of work to do May 24, 2023
Tourism Middle East beats pre-pandemic tourism numbers The Middle East has become the first region to return to pre-pandemic tourism levels for a full quarter, according to the UN World Tourism Organisation. In the first three months of 2023, international visitor arrivals to the Middle East were 15 percent higher than in the same period of 2019, the UN agency said. The […] May 24, 2023
Video length: 01:27 Tourism Aquaman makes a splash in Abu Dhabi tourist drive Abu Dhabi has turned to Aquaman actor Jason Momoa to help increase visitor numbers to Yas Island as Gulf countries increasingly seek celebrity support to boost international tourism. With growing competition across the region, the UAE capital’s Department of Culture and Tourism hopes to transform the Hollywood star’s millions of social media followers into potential […] May 21, 2023
Tourism IHG targets young Saudis with new hotel brand International hotel chain IHG Hotels and Resorts has signed a master development agreement with Tashyid for Hotel Operations to develop 12 hotels and 2,500 keys under the Holiday Inn Express brand across Saudi Arabia. The first 300-key Holiday Inn Express hotel will open in Jeddah by June 2025. Haitham Mattar, managing director, India, Middle East […] May 21, 2023
Opinion Tourism Saudi’s tourism ambitions rely on its youth Rising support from young Saudis will help drive the kingdom's eco-tourism aims May 17, 2023
Egypt temporarily exempts travellers from gold tax The Egyptian government has temporarily approved customs duty and other fee exemptions, excluding VAT, for travellers bringing in gold for a period of six months. The exemption applies to semi-manufactured gold, gold prepared for currency-trade, and jewellery parts made or coated with a layer of precious metals, UAE state-run Wam news agency reported, citing a draft decree […] May 12, 2023
Tourism RAK tourism chief open to gamble on ‘gaming areas’ Ras Al Khaimah’s tourism chief has revealed he would welcome more hotels with “gaming” elements to their offering as the emirate pushes its visitor number target to five million by 2030. Las Vegas-based Wynn Resorts announced a $3.9 billion investment last year – the northern emirate’s largest FDI project – to build their first beach […] May 9, 2023
Analysis Tourism Turkey pins hopes on return of Gulf tourists Turkey is anticipating an increase in visitors from the Gulf countries in the coming months, following devastating earthquakes and Ramadan. Foreign tourist arrivals in the first quarter rose over 26.7 percent year-on-year to 6.2 million, reported the Daily Sabah newspaper, citing data from the Culture and Tourism Ministry. Industry officials expect an average 20 percent […] May 8, 2023
Tourism Holiday Inn-owner sees summer to drive growth IHG Plc chief executive Keith Barr will step down next month after six years at the helm, the Holiday Inn-owner said, sending its shares down despite strong first-quarter results driven by a rebound in Chinese demand. The 52 year-old American plans to return to his family in the United States, IHG said, adding he would […] May 7, 2023
Video length: 02:49 Video Tourism Red Sea Global to spend $20bn by 2024 Red Sea Global will open its first hotels this year at the new Saudi Arabian tourist destinations, Red Sea Project and Amaala. The company, owned by Saudi sovereign wealth fund PIF, has spent $5 billion so far, according to its CEO, and will be spending another $15 billion by 2024. “Between Red Sea and Amaala, […] May 3, 2023
Exclusive Real Estate ‘Pivotal’ year for Ras Al Khaimah, says property chief RAK Properties, the Abu Dhabi-listed company developing much of the emirate of Ras Al Khaimah, is seeking to capitalise on rising demand for local real estate. It is in talks with several UAE developers and landowners to form joint ventures, according to chief executive Sameh Al Muhtadi. He declined to reveal names of prospective partners, […] May 2, 2023
Tourism Rotana checks in to London’s business hotel market Hospitality company Rotana has unveiled a $1 billion-plus plan to enter the London business hotel market, and to expand its offerings in Egypt and Saudi Arabia. The UAE-based business – which has more than 100 properties in the Middle East, Africa and Eastern Europe – will begin its UK operation by opening two serviced apartment […] May 2, 2023
EXCLUSIVE Tourism Lebanon’s tourism minister hails $9bn revenues Lebanon is not relying on International Monetary Fund cash to stay afloat, a government minister has told AGBI, as the tourism sector alone contributed $9 billion in revenue last year. The IMF reached a staff-level agreement with Lebanon in April 2022 for a $3 billion loan programme to tackle its financial crisis. But progress on […] May 1, 2023
Tourism Turkey’s tourism revenue rises 33% to $8.7bn in Q1 2023 Turkey’s tourism revenue rose 33 percent in the first quarter of 2023 to $8.69 billion, driven by a surge in foreign arrivals, said Turkish Statistical Institute (TurkStat) in a report. Tourism revenue is paramount for the government to reduce the current account deficit to tackle high inflation and interest rates, Daily Sabah newspaper said. The […] May 1, 2023
Tourism Sustainability looms large at Arabian Travel Market 2023 Ahead of Dubai hosting one of the world’s largest travel conferences, key stakeholders in the emirate’s travel and hospitality industry have been keen to stress its sustainability credentials. Centred on the theme Working Towards Net Zero, this year’s Arabian Travel Market (ATM) on May 1 to May 4 is expected to draw in 34,000 attendees […] May 1, 2023
Tourism Saudi hotel development costs estimated at $38bn The total development cost for all the hotel rooms planned in Saudi Arabia is estimated at $37.8 billion, according to property consultancy Knight Frank. The Arab world’s largest economy will see the completion of 315,000 hotel keys by 2030, the consultancy said. The growth in Saudi’s hotel room inventory will swell to become larger than […] April 30, 2023
Analysis Tourism Gulf hospitality market banks on hotel-building surge Following the chaos of Covid and a surge in visitors for the Fifa World Cup and Expo 2022, the Gulf hospitality market might have been expected to return to a period of relative normality. But major tourism investment drives are afoot as GCC states seek to further diversify their economies. Almost 170,000 hotel rooms are […] April 30, 2023
Tourism Demand for Dubai tourism ‘going up’ despite challenges One of Dubai’s leading tourism figures has brushed off concerns over rising oil prices and stubbornly high inflation, striking a bullish tone on the outlook for growth in the emirate’s tourism industry ahead of a major conference. “We constantly monitor demand from forward bookings, and we can see that the demand for Dubai is going […] April 28, 2023
Tourism Saudi Arabia’s wealth fund in talks to buy stake in Flynas Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a stake in Flynas, a Riyadh-headquartered low-cost carrier, Bloomberg reported, citing informed sources. Goldman Sachs Group is advising shareholders on the potential sale to the sovereign fund. The airline is partly owned by Prince Alwaleed bin Talal’s Kingdom Holding Co., in which PIF purchased […] April 28, 2023
Tourism Turkey’s tourism sector slow to recover after huge quake After months of hosting displaced survivors of Turkey’s massive earthquake in his Antalya hotels, Hakan Saatcioglu hopes his rooms will soon be filled with tourists again after the temporary guests were transferred elsewhere by the government. Saatcioglu, the coordinator of Limak International Hotels & Resorts, is one of many in hospitality expecting to see Turkey’s […] April 25, 2023
