Monday, July 23, 2018

Outlook for 2018


Omer Kaddouri – president & CEO of Rotana
January 2018 416

Travel and tourism has, of course, been impacted by geo-political shifts taking place around the world, as well as economic challenges across the Middle East and North Africa. However, it remains a well-rounded destination with something to suit all visitors, offering a rich variety of cultural venues, historical sites and modern attractions that showcase the region to the world.

We are very optimistic for 2018, given the continued performance of the sector and the positive global economic prospects on the back of accelerating growth in major economies. With its fast-growing youth population and a rising disposable income of the people, the region has become a magnet for investments.

This, combined with the massive public spending on new commercial, tourism and entertainment projects and those underway, such as the EXPO 2020, 2022 FIFA World Cup and Saudi Arabia’s $500 billion Red Sea coastline project among many others, is presenting new opportunities for the sector, triggering a surge in corporate travel and domestic and internationals tourist arrivals. In line with our strategy to expand in this market and capitalize on its booming tourism scene, we have planned the opening of 13 new properties by the end of next year. We are confident that 2018 is going to be another strong growth year for Rotana.

 




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