Saudi Arabia’s growing tourism sector is one of over 40 key travel and tourism trends under the spotlight on Arabian Travel Market’s Global Stage – as more than 100 experts from across the spectrum of global hospitality gear up for three more days of interactive discussions, keynotes and industry briefings.
The Kingdom will see a vast expansion of its hotel and resort inventory during 2019, with approximately 9,000 keys of three to five-star international supply projected to enter the market.
While this new supply will place additional competitive pressure on hotels’ performance across the country, the predicted growth in airport passenger numbers across Riyadh, Jeddah, Madinah and Al Khobar is expected to boost occupancy levels throughout 2019.
With the overall number of annual tourist trips expected to increase to 93.8 million by 2023, according to Colliers International, panellists will discuss the opportunities related to these unprecedented growth projections, as well as the tourism sector’s potential to support Saudi Arabia’s economic diversification efforts.
Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: “All available metrics point to incredible potential within Saudi Arabia’s tourism sector. Increases in air passenger numbers are predicted across the board in 2019, and the kingdom’s hospitality sector is investing in its future with significant boosts to capacity.
“New revenue channels such as travel and tourism have a crucial role to play in achieving the goals set out in Saudi Arabia’s Vision 2030, which is why it is so important for our industry to explore how we can work together to catalyse further development.”
For more information about ATM 2019, visit: https://arabiantravelmarket.wtm.com.