RIYADH: Robust tourism growth is set to expand the hospitality market in the Middle East and North Africa from $310 billion in 2025 to more than $487 billion by 2032, a new report showed.
Released by the Future Hospitality Summit ahead of its gathering in Dubai from Oct. 27 to 29, the report cites data from the World Travel and Tourism Council and notes that the travel and tourism sector is expected to contribute $367 billion to the Middle East economy this year while supporting 7.7 million jobs.
Quoting industry experts, it adds that unprecedented expansion in hospitality, tourism, and infrastructure is reinforcing the region’s position as a global magnet for investment.
Developing a robust tourism sector is crucial for oil-rich Middle Eastern countries as they pursue economic diversification and reduce reliance on crude revenues. Saudi Arabia aims to attract 150 million tourists annually by 2030, while Egypt targets 30 million international visitors by 2028.
Amr El-Nady, head of hotels and hospitality Middle East and Africa and managing director, global hotel desk at JLL, said: “Both nations are seeking to significantly increase tourism’s contribution to their gross domestic product, with Saudi Arabia targeting 10 percent and Egypt 15 percent.”
