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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Iraq set to award new Faw Port deals

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      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        France to help Iraq generate electricity, will invest in education, science: Macron

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              GCC hospitality industry set to reach $35.9 billion by 2018

              Gulf News

              September 25, 2014
              in Hospitality
              0

              The hospitality industry in the Gulf Cooperation Council (GCC) countries is forecast to grow from $22.8 billion (Dh83.7 billion) in 2013 to $35.9 billion by 2018, at an annual rate of 9.5 per cent, according to a new report by investment bank Alpen Capital.

              The UAE’s hospitality industry is expected to grow at a compound annual growth rate of 10 per cent between 2013 and 2018.
               
              The growth of the industry in the region will be fuelled by the shift in global activity from the West to the East, a rise in leisure travel, higher demand for serviced apartments, a shift towards budget travel and a quicker construction pipeline, said Sanjay Bhatia, managing director of Alpen Capital in Qatar.

              The sector’s growth is also expected to be driven by international tourist arrivals, especially those from Asia, and a stronger MICE [meetings, incentives, conferences and exhibitions] segment, among others, according to Sameena Ahmad, managing director of Alpen Capital in the Middle East.

              The GCC has made major investments in expanding airports there. For instance, in Dubai, a Dh117.5 billion expansion of Al Maktoum International at Dubai World Central is expected to begin by the end of the year. The airport will be able to serve 120 million passengers within six to eight years.

              Airports across the region are expected to handle as many as 250 million passengers by 2020, Reed Exhibitions said in a statement, quoting a study.
               
              Challenges ahead
              However, as GCC countries boost their hotel room capacity in the run up to major events there, they face the challenge of sustaining demand after those events take place, he warned. The region has made major investments in infrastructure for events, such as the World Expo 2020 in Dubai. The six-month long trade exhibition will be the main driver of the hospitality industry in the UAE, which has a leisure travel market valued at $23 billion, as per the report.

              “There’s enough demand today to take care of new hospitality projects coming on stream,” Bhatia told Gulf News.
               
              In Dubai, hotel room supply and demand could be balanced after Expo 2020, Bhatia said.
              Average hotel occupancy rates in the GCC are expected to be between 68 per cent and 74 per cent between 2013 and 2018, while average daily rate is likely to be between $225 and $263 during the same period.

              Other obstacles faced by the GCC include competing with newer projects and attracting skilled labour to the region.
               
              “However, we feel that the growth of the sector will be driven by supportive policy initiatives undertaken by GCC governments to enhance infrastructure; thereby positively impacting the continued investor appetite for the region and tourism,” Bhatia said.
              Gulf News
              25 September

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