$ 32.5 billion in the Gulf hotel industry from here 2022

General Manager of. Alpen Capital, said: To the countries that will lead the global growth of the tourism and travel sector in the coming years in light of the facilitation of visa laws and cautious investments in the sector, as well as the l & # 39; strategic direction of government to ensure long-term economic, environmental and social sustainability. "The UAE has the capacity to adapt to all the current changes in the Middle East and maintain its position as a major tourist destination in the region," she said. According to the report, the hospitality sector in the United Arab Emirates is expected to grow by 8.5% over the next five years to reach 7.6 billion dirhams (27.9 billion dirhams) by 2022, according to Al Bayan.
Supported by the United Arab Emirates' commitment to major changes in hotel occupancy over 365 days through the construction of hotels for various customer segments, as well as the presence of destinations such as as Dubai Parks and Resorts and Expo 2020 Dubai International. In the United Arab Emirates has increased 12.4% over the last decade.
According to the report, is expected to increase The United Arab Emirates' share of the GCC hotel sector will reach 23.4% by 2022 thanks to the large number of hotel rooms and the hospitality of the hotel. Expo, which is expected to attract more than 20 million visitors, a massive influx of visitors from around the world. The number of international tourists arriving to the UAE is expected to increase by 4.3% per year to reach 25.5 million by 2022 and the supply is expected to increase. Hotels have increased by 6% to 183,718,000 rooms. Hotel 2022.
During the scheduled period, the average rate of the Emirates will increase from 1.3% to $ 149 until 2022, while that of rooms and apartments will probably increase by 2.1% to $ 116 in 2022.
According to the report, the Gulf sector will grow by 7.2% per year to reach $ 32.5 billion by 2022 against $ 22.9 billion in 2017. The Major events and government initiatives for tourism are the main drivers of growth.
Sanjay Bhattia, Managing Director of Alpen Capital, "The Gulf Hotel Industry is undergoing a major transformation as the sector prepares to welcome massive influxes of tourists to attend mega-events "With positive growth prospects for the Gulf economies and the Gulf hotel industry, we expect a significant improvement in total revenues. The hospitality industry continues to provide significant opportunities for investors and we expect the pace of mergers and acquisitions and equity financing to accelerate within the industry. in the years to come.
The tourism sector, where transit passengers have been exempted from the UAE's first 48-hour transit visa, which will boost the growth of tourism and the hotel industry.
The Alpen Capital report on the hospitality sector in the Gulf gives insight on the dynamics of supply and demand, and focuses on performance indicators The main hotel industry in all Gulf countries. The report also covers recent trends and drivers of growth and highlights the challenges facing the industry.