Tourism

News Analysis: Expanding Saudi tourism sector targeted for investment

Saudi Arabia is intent on developing its tourism industry, and the lucrative religious tourism sector is providing an across-the-board platform for the expansion of an industry that until recently has been largely neglected.

Tourism in its entirety, including religious tourism, contributed 3.1 percent to the country's total GDP in 2006, and 6.4 percent to non-oil GDP - around US$10.8 billion and US$22.3 billion, respectively - according to a report released in March by the Saudi Arabian Monetary Agency (SAMA, the Kingdom's central bank).

Lack of staff threatens regional hotel sector

The colossal US$3.4 billion investments injected into the regional hospitality and travel markets have begun colliding with exponential growth in the sector due to dwindling qualified sector-specific staff.

As demand for hotels increases and hotel developments continue to sprawl across the region, trained staff is becoming scarcer to find especially on the background absence of high-class training academies focused on the tourism and hospitality sector in the Arab world.

UAE leads investment in regional tourism sector

The UAE is drawing the lion's share of investments in the Arab tourism sector, as works continue to build two 10-kilometre streets totalling US$60 billion investments in Dubai devoted entirely to the hotel industry. The US$60 billion-investment is set to boost Dubai's accommodation capacity by more than 70,000 hotel rooms.

A unique combination in ecological tourism

The first phase of Abu Dhabi's unique Desert Islands destination, which is set to be a regional showpiece of sustainability, is to open to tourists this winter heralding the entry of the emirate's largely untapped western region on the international tourism and development landscapes.

From October, tourists will be able to stay on Sir Bani Yas Island - the former private eco-retreat of the late Shaikh Zayed Bin Sultan Al Nahyan.

Movenpick eyes tie-ups with Arab investors

Swiss-based hotel chain Movenpick said it is keen for tie-ups with Arab investors to develop properties in the high-growth markets of Asia, particularly in Southeast Asia, China and India.

"A lot of Arab funds are interested in Asia and we want to partner with them for project developments," said Toufic Tamim, Movenpick's vice-president of sales and marketing in the Middle East.

Tourism infrastructure works in Brazil attract UAE firms

UAE companies such as Dubai World and Dubai Holding are looking at real estate and tourism infrastructure projects in Brazil, a senior Brazilian official said.

"They are interested in building hotels, mixed-use real estate, resorts, residential properties," Laercio Roberto Lemos De Souza, general coordinator for investment promotion at the Brazilian Ministry of Tourism, said.

N. Emirates: Tourism in focus

Recently released government statistics show the tourism sector in the Northern Emirates enjoying healthy growth, and officials are predicting the number of visitors to the region will continue to increase in the coming years.

According to statistics released in early May by the Sharjah Commerce and Tourism Development Authority (SCTDA), the number of guests staying in the emirate during the first quarter of 2008 rose to 421,898, up from 377,306 during the same period in 2007. Average occupancy rose from 77 percent last year to 80 percent - healthy figures indicating room for further expansion in the hotel sector.