Malta, Egypt, France and Spain sovereign wealth funds set up collaboration network to open up investment opportunities
A total of 32,621 hotel rooms are currently being built in Saudi Arabia, as the Kingdom prepares to meet the demand from pilgrims returning to the holy cities. This is according to the latest research by STR, commissioned by Arabian Travel Market 2022, which will take place at the Dubai World Trade Center from 9 to 12 May.
Analysts have found that the country’s revenue per room recovery index available is 52 percent, noting that the lack of millions of Muslim pilgrims has had a significant impact on the performance of hotels in Saudi Arabia. Madinah and Makkah saw RevPAR rates of only 33 percent and 24 percent, respectively, in 2021.
Although significantly lower than pre-pandemic levels, the performance of Saudi Arabia’s hotels recorded year-on-year gains in 2021 and the sector’s recovery is expected to persist throughout the year. next year, with a sharp demand to drive further improvements as COVID-19-related restrictions. continue to accelerate.
Danielle Curtis, director of exhibitions at ME – Arabian Travel Market, said: “As has been the case for markets around the world, the global pandemic has had a major impact on Saudi Arabia’s hospitality industry. Even so, STR’s findings clearly indicate a continued and sustained recovery, and we look forward to exploring the vast untapped potential of the UK’s growing tourism sector at ATM 2022. “
Hotels in Alchobar are currently surpassing those in Saudi Arabia’s other major cities, with RevPAR exceeding pre-pandemic levels in 2021. Riyadh, Dammam and Jeddah, meanwhile, recorded a recovery rate of 88 percent, 85 percent and 56 percent, respectively, last year.
In terms of overseas travel, research conducted by Colliers International shows that overseas travel from the UK is expected to grow to 6,075,000 in 2022, compared to around 3,793,000 in 2021 and 4,839,000 in 2020. In the longer term, outbound tourist trips are expected to come out. rises to 9,262,000 in 2025, although this figure will still be significantly lower than the peak of 19,751,000 recorded in 2019.
Outside tourism spending is expected to grow to SR32.656 billion ($ 8.7 billion) this year, compared to an estimated SR19.734 billion in 2021 and SR21.969 billion in 2020. Total expenditure is expected to increase to SrR54.624 billion.
With two sessions dedicated exclusively to the Kingdom, attendees, exhibitors and delegates will have ample opportunity to take on a large crowd in the tourism, travel and hospitality industry of Saudi Arabia at the ATM. 2022.
First, “From strategy to reality: Saudi Arabia’s tourism vision comes of age”, part of the ATM Saudi Forum, will focus on infrastructure progress, niche markets and new opportunities , as the country strives to attract 100 million annual visitors by 2030. Second, “Saudi Arabia’s plan for the development of responsible tourism”, will explore how sustainability, community inclusion, education and training, and the impact of The legacy of the UK’s broad tourism vision can offer a best practice model for other global destinations.
The Saudi ATM Forum will feature high-level experts including Mahmoud Abdulhadi, Deputy Minister for Investment Attraction in the Saudi Ministry of Tourism; Captain Ibrahim Koshy, CEO of Saudia; Amr Al-Madani, CEO, Royal Commission for AlUla; Majed bin Ayed Al-Nefaie, CEO, Seera Group Holding; Fawaz Farooqui, managing director, Saudi Cruise; John Pagano, CEO, Red Sea Development Company and AMAALA; and Jerry Inzerillo, CEO, Diriyah Gate Development Authority.
ATM 2022 will welcome a range of high-profile exhibitors from the UK, including the Saudi Tourism Authority, which has expanded its exhibition area by 40 per cent compared to 2021 – as also Saudia Airlines, Flynas, Seera, Red Sea Project, NEOM, Dur Hospitality, and first-time participant Al-Hokair Group.