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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    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

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      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

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        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

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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

        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          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

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          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

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Communication
            • Digital
            • Economy
            • Finance
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            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

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              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

              Trending Tags

              • Healthcare
                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

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                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

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              Abu Dhabi expands tourism market

              Oxford Business Group

              September 18, 2015
              in Hospitality
              0

              Rising arrivals are driving tourism infrastructure development in Abu Dhabi, as the emirate accelerates construction of hotels and other facilities in a bid to broaden its offering for both business and leisure travel.

              New hotel development is continuing apace, particularly in the high-end segment, according to a recent report by real estate consultancy JLL. Room stocks are expected to reach 26,000 by 2017, with 2300 units coming on-line by the end of this year.

              The forecasted increase in tourist arrivals is one of the primary driving factors of the accelerated building program, with visitor numbers expected to rise over the medium term.

              Arrival forecasts
              The sector regulator, Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), raised its 2015 visitor target in mid-June in response to a 20% year-on-year (y-o-y) increase in arrivals in the first four months of the year. The body is now predicting 3.9m visitors through to the end of 2015, up 11.4% over previous forecasts.

              TCA Abu Dhabi’s half-year figures echo this positive outlook. There was a 17% y-o-y increase in hotel guests in the first six months of the year, with 1.98m visitor check-ins, and 11% y-o-y growth in guest nights, to 5.73m. Hotel earnings were up 8% at Dh3.35bn ($912.1m), driven by an 11% increase in room revenue.

              Occupancy rates were stable, down one percentage point over the period at 76%, though the seasonal impact of the holy fasting month of Ramadan saw occupancy rates decrease by six percentage points, y-o-y, in June and food and beverage sales fall by 8%.

              Be our guest
              A sharp increase in tourists from India, Saudi Arabia and China was largely credited with the year-to-date growth in tourist arrivals, and was also a supporting factor for the promising half-year hospitality results.

              India reclaimed its position as the top international source market for tourists, with arrivals rising 18% y-o-y in the first six months of the year to more than 127,000. Meanwhile, Saudi Arabia recorded the second-fastest growth rate of the top-10 source countries, with arrivals up 28% y-o-y to around 62,500. Chinese arrivals have been steadily increasing since travel restrictions to the UAE were relaxed in 2009, up 72% y-o-y at more than 100,000 in the first half of 2015.

              In terms of hospitality figures, while China currently ranks fourth by number of hotel guests with a 5% share – behind the UAE (33%) and India (6%) and the UK (6%) – the country posted the strongest growth in the first six months of 2015, after a 166% increase in Chinese hotel guests last year, according to local media, due to an influx of incentive corporate travel.

              This comes on the back of broader efforts by TCA Abu Dhabi to attract Chinese tourists to the emirate. In February more than 20 hotels, malls and tourist attractions in the emirate enrolled in the Welcome Chinese program, an initiative by China’s state-backed tourism body, China Tourism Academy. The move has prompted a wider range of services for Chinese travelers, including Mandarin-speaking attendants at malls and payment services at hotels for China’s UnionPay bank cards.

              While more sluggish economic growth in China could impact demand, the Chinese tourist market remains much sought after, with some 100m Chinese tourists spending a combined $164.8bn last year.

              State support
              State efforts to raise Abu Dhabi’s profile as a tourist destination and improve accessibility are providing additional impetus for infrastructure development.

              Etihad Airways, Abu Dhabi’s flagship carrier, is looking to grow, seeking as much as $500m to finance its fleet expansion, according to international media reports, with the airline announcing plans to raise capital through a $1bn bond issue in partnership with five other airlines.

              Meanwhile, construction of the Midfield Terminal Building at Abu Dhabi International Airport, set to open in the summer of 2017, will nearly triple passenger handling capacity to 45m per year, according to the Abu Dhabi Airports website. The terminal will include 700,000 sq meters of internal space and a 22-km baggage handling system capable of processing some 19,000 bags per hour.

              According to Matthew Green, head of research and consultancy at property management company CBRE in Dubai, the airport expansion will be a boon for Abu Dhabi’s hotels. “The Abu Dhabi airport is yet to open, and when it does so in 2017, it is going to be a huge factor in achieving the future growth targets,” he told local media in late July.

              To generate further tourist demand, the emirate will continue to host high-profile international events, such as the annual Formula One Abu Dhabi Grand Prix, which will remain the last race of the F1 season next year, as well as football’s 2019 Asian Cup, which was awarded to the UAE in March.

              In addition, the emirate is seeking to bolster its leisure offering, with Louvre Abu Dhabi, Guggenheim Abu Dhabi and Zayed National Museum set to open in the coming years. Abu Dhabi is also working to develop a wider array of attractions to make Yas Island a global destination for theme parks and attractions. Located on the island, Ferrari World plans to open seven new rides in the next three years, including the world’s steepest roller coaster.
              Oxford Business Group
              17 September

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