The GCC and the Middle East are key target regions for the world's first international luxury travel trade exhibition to be held in France later this year.

Organisers say the area is well positioned to attract a slice of the global upmarket tourism services and products sector, representing one fifth of total worldwide travel expenditure.

To be staged in Cannes' prestigious Palais des Festivals et des Congress, France, from December 10-12 this year, International Luxury Travel Market (ILTM) 2002, is organised by LTM Media Ltd in association with Reed Travel Exhibitions, the organisers of Arabian Travel Market and other international travel and tourism shows.

"Luxury travel is an industry in its own right representing the elite 3 per cent of travellers worldwide who account for 20 per cent of total annual travel expenditure," said David Hammond, exhibition director, LTM Media Ltd.

Hammond said that five star dining, shopping and activity holidays are the most popular travel trends among international young affluent travellers.

"The Middle East and the GCC states in particular boast a wealth of high-end luxury hotels, shopping malls and desert safaris and other action-packed packages, making it a key target for us," he said.

"Coupled with its hospitality traditions and excellent value for money the region's upmarket travel suppliers are set to attract a lot of interest from specialist luxury travel trade buyers who will attend ILTM 2002."

The niche event has an invitation-only policy supervised by a steering committee, which first approves the operators' luxury travel criteria and then invites them to attend.