Tourism destinations in the Middle East extending their offerings to attract FDI
Published on : Friday, May 13, 2022
Tourism destinations in the Middle East are increasing their appeal, extending their offerings for luring FDI. This was highlighted by the global ministers of tourism assembling at the 2022 Middle East Tourism Investment Summit at the Arabian Travel Market (ATM) who discussed investment opportunities and challenges for destination tourism in the Middle East.
The meeting was hosted together by ATM and the International Tourism & Investment Conference (ITIC), and it started with a ministerial seminar with involvement of H.E. Dr. Ahmad Belhoul Al Falasi, the Minister of State for Entrepreneurship and SMEs & Chairman of Emirates Tourism Council of the UAE; H.E Nayef Al Fayez, the Minister of Tourism and Antiquities in Jordan; Hon. Edmund Bartlett, the Minister of Tourism in Jamaica, and Hon. Philda Nani Kereng, the Minister of Environment, Natural Resources Conservation and Tourism in Botswana.
H.E. Dr. Ahmad Belhoul Al Falasi said that in the UAE hospitality accommodation sector, investment in rooms and keys is a chief focus with 5% growth in room numbers compared to 2019, with change in service levels and housing type.
While the big-ticket FDI will grow in terms of rooms, in the service area, there is a lot of venture capital arranged on technological solutions for tourism. Technology is an important area of investment in the future. Despite the fact that recovery is going fine, there is need to be evenhanded in recovery to make sure that the entire ecosystem gains advantage from the same.