Mubasher: The UAE’s hospitality sector is expected to see an important expansion on the back of “huge” inflow of tourists for the World Expo 2020 to be held in Dubai, according to a statement.
The country's sector revenues are anticipated to reach $9.8 billion (AED 35.996 billion) by 2020.
Saudi Arabia is likely to get a boost with major expansion works being carried out at its two holy mosques in Makkah and Madinah, the Alpen Capital report earlier said. The hospitality sector revenue is projected at $23.1 billion (AED 84.85 billion) in 2020.
More than 136,000 hotel and serviced apartment rooms are likely to enter the GCC hospitality market, taking the total inventory to nearly 770,000.
The UAE and Saudi Arabia are anticipated to witness addition of more than 60,000 and 47,000 rooms, respectively, by 2020.
The Hotelier Summit UAE & KSA 2016 kicked off on 6 December at Al Bustan Rotana in Dubai.
To be concluded tomorrow, the summit reunites 235 key decision makers and experts from the UAE and the Kingdom of Saudi Arabia with suppliers from across the globe.
