$ 321 billion investment in Arab tourism by the end of 2020

The Arab Tourism Organization expects that the volume of investments in Arab tourism by the end of 2020 will reach about 323 billion dollars, according to the recommendations of the Organization during the participation in the meetings of the Arab League Council meeting at the summit at the thirty-first session, chaired by Tunisian President Béji Kayed Sibsi. Arab.

Bandar Bin Fahad Al Fahid, Chairman of the Arab Tourism Organization, said that the organization's participation in the Arab summit was part of the participation of organizations of action Arab League, thus offering Arab organizations the opportunity to meet on the sidelines of the summit. What has been published in advance in various fields, both in their own right.

Al-Fahid emphasized the great interest of Arab leaders to serve the political and economic interests of the Arab nation, pointing out that the tourism sector is of great interest to Arab governments at Arab summit level. because many decisions have been made by the summits in this area. Carry out the development of tourism and provide access between them to achieve the integration and coordination of the efforts of the Arab countries to increase their economic benefits for their country, noting that the first decisions on tourism were taken at the 2004 Tunis Summit as Tourism Industry Strategy. Have all the tax credits and facilities that benefit the export industries.

The President of the Arab Tourism Organization said that the Organization followed all the decisions taken by the Arab Summits in the framework of the Council of Arab Ministers of Tourism, many of which were implemented during the year. adoption of the Arab Tourism Strategy and the promotion of Arab tourism through the facilitation of visa and visa procedures. And the role of the Arab media in promoting tourism and taking into account sustainable tourism concepts, in addition to creating a climate conducive to investment in the tourism sector to encourage the sector, etc. Arab R to increase its investments through the establishment of an annual Arab tourism investment forum.

The President of the Arab Tourism Organization spoke about the agreement signed by the Organization with the Islamic Institution for the Guarantee of Investment, one of the institutions of the Islamic Bank Group, and aims to secure investment and encourage capital flows between Arab countries and attract foreign investment to the Arab world for tourism investment in the region. Arab Bank by the end of 2020 of about 323 billion dollars. The Organization therefore wanted to play its part in developing this major industry by signing this agreement, which aims to encourage investors to invest in the region while protecting investments in the Arab country. This includes lifting restrictions on financial transfers from the investor and covering losses resulting from the inability of the investor to transfer profits and prohibition and the nationalization and the coverage against confiscation or nationalization by the government of investments or property belonging to the investor and internal and external problems such as wars and civil unrest Due to a war or an action in the host country and compensated for 90% of the value of its investment.

He added that the organization was also seeking to develop and develop Arab executives engaged in the tourism industry in order to be able to provide high quality tourism services and tourism to some of the major developed countries, emphasizing that the importance of the tourism industry resulted from the huge economic return of the countries' budgets, with 10% of global GDP, 30% of services exports and 7% of world exports, investments in Global tourism industry at the end of 2018 amounted to about 925 billion, Entering World achieved a 6% increase by the end of 2018 year compared to 2017.

Al Fahid concluded that the number of tourists had increased by almost 100% in the world, compared with the year 2000, which had reached about 792 million tourists and had increased by 2018 to reach a billion and 400 million tourists worldwide. In addition, the organization wants to continue cooperation with all Arab ministries and tourism agencies in order to implement several rehabilitation and marketing programs in the Arab region in order to reap the benefits it has. merit for the development of this major industry. The organization hopes that the number of tourists visiting the Arab region will reach 195 million Three times the current rate.