Monday, May 12, 2008

Middle East tourism attracts USD 3tn investments over next 20 years.

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Middle East tourism attracts USD 3tn investments over next 20 years. Some USD 3tn will be invested in Middle East tourism and infrastructure over the next 20 years, according to the latest report from the World Travel & Tourism Council (WTTC). In Q1 of 2007, more than USD 2bn was invested in the hotel sector. The report added that the region is also witnessing new trends within the hospitality sector such as Shari’a-compliant hotels. It quoted Almulla Hospitality’s Chairman, Abdulla Almulla, as saying that the demand for Shari’a-compliant accommodation is on the increase and represents 10% of the world tourism market. However, experts warn of possible profit pressures due the lack of revenue optimization by the industry.

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Middle East tourism attracts USD 3tn investments over next 20 years.

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