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GCC Hospitality and Leisure Sector has $200 BN Projects Underway

October 31, 2017 UAE Business 0
  • Over 2,000 hospitality and leisure projects in the GCC with a combined estimated value of USD 200 billion, according to The Big 5’s research partner BNC Network.
  • The expanding tourism sector and hosting of large events are key drivers behind increasing hospitality and leisure projects in the region.
  • The Big 5 (26 – 29 November 2017 at The Dubai World Trade Centre) will feature over 2500 exhibiting companies and is expected to attract over 78,000 visitors.

Over 2,000 hospitality and leisure projects are currently underway in the GCC with a combined estimated value of USD 200 billion, event organisers announce ahead of The Big 5 next month.  An estimated USD 64 billion worth of related projects in the construction pipeline, coupled with increasingly relaxed visa policies highlight a developing focus on strengthening the regional tourism ecosystem. Read more

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Oil Economy to Tourism Economy, UAE

July 24, 2016 UAE Business 0

Economic development targeted at one sector of a country’s economy is a risky play; so as investments into the weak sector of an existing economy. For all developed and super economic countries, there is a multi-focused sector that generates revenue; and for all top billionaires, there is a variety of investments in different sectors. The United Arab Emirates is known to be an oil-fuelled economy, however, there are other sectors that are boosting the economic performance of UAE – Travel, Hospitality, and Tourism. UAE keeps pushing for new developments that strengthen their tourism sector to positively impact the emirates Gross Domestic Production. Investors must target these sectors of the UAE. Read more