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Wednesday, 25 November 2009 15:35 UAE time

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$3.63 trillion earmarked for Middle East travel and tourism industry

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 27 December 2007

A massive US $3.63 trillion is being invested in the Middle East travel and tourism industry, according to a research study by Fast Future and Global Futures and Foresight.

Preliminary results of the Middle East Industry Outlook 2020 revealed that the sizeable sum will be invested in hotels, leisure projects, cruise lines, tourism promotion and aviation developments across the region.

The study covers 13 Middle Eastern countries up to the year 2020 and is to be published in full at the Hotel Show 2008, the Middle East's supplies exhibition for the hospitality sector, taking place at the Dubai International Exhibition Centre from 8 to 10 June 2008.

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Ibrahim Mardam-Bey, chief executive of Siraj Capital, sponsor and founding shareholder of hospitality lodging investment company RAHALA and one of the founding sponsors of the study, said: "The report highlights the scale of investment opportunities on offer across the sector as well as validating the potential for sector-focused investment companies such as RAHALA.

"In order to make good investment decisions, reliable data on the industry's future direction is critical - this is why we are backing this ground breaking study".  

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