The two companies, “Insight Out Consulting” and “Fox Right,” have released a copy of their annual joint report titled “Middle East Travel Market Report for 2023.”
The report provided an overview of the key points related to the four largest markets in the region: the UAE, Saudi Arabia, Qatar, and Egypt. Here is a summary of the report:
The UAE The report noted that the UAE is in a prime position to benefit from the growing demand for travel and tourism and maintain its leading position as the largest travel market in the Middle East. It was among the first destinations to fully recover travel and tourism activities.
The report highlighted that in 2022, the UAE’s travel market recorded significant growth, with a 101% increase compared to 2021 amid a rapid recovery from COVID-19. The sector is expected to continue its exceptional performance, with growth projected to reach 10% in 2023.
The report emphasized that the travel landscape in the UAE is experiencing robust growth, backed by substantial support from the UAE government. The government has made substantial investments and launched initiatives such as the UAE Tourism Strategy, aimed at attracting AED 100 billion in investments and hosting 40 million hotel guests by 2031.
The hospitality sector in the UAE is rapidly expanding, with the number of hotel rooms expected to exceed 200,000 keys by 2030, driven by the increasing number of tourists visiting the UAE.
The report also confirmed that the UAE’s aviation sector is one of the most rapidly evolving in the world, with Emirates, Etihad Airways, and Flydubai ranking among the top 50 airlines globally.
Saudi Arabia The report highlighted that Saudi Arabia is the fastest-growing travel market in the region, with a 107% increase in total bookings for 2022 compared to 2021. By 2026, the market is expected to grow by another 65%.
The Saudi government is heavily investing in its tourism appeal and travel infrastructure. Recently, the government revealed plans to invest $800 billion in the tourism sector over the next ten years as part of Vision 2030.
Qatar In the case of Qatar, the tourism sector experienced significant recovery in 2022, driven by the FIFA World Cup event, continuous expansion of infrastructure in Qatar, and the increasing popularity of the country as an entertainment destination.
According to the report, it is expected to receive between 6 to 7 million visitors annually by 2030. Qatar Airways stands as a testament to this vision through its continuous global expansion to support the tourism sector in the country.
Egypt While tourism levels in Egypt are still below pre-pandemic levels, the country has seen significant improvement since 2020. This is attributed to several factors, with government efforts to promote Egypt as a safe and attractive tourist destination being among the most prominent.
On the other hand, domestic tourism in Egypt has witnessed a surge in recent years, with Egyptians becoming more interested in exploring their own country. Additionally, Egypt’s great diversity in natural attractions has made it suitable for adventure and eco-tourism.