THE Middle East travel and tourism industry is expected to generate $66.8 billion ($245.3 billion) in revenues in 2006, according to World Travel & Tourism Council (WTTC) forecasts for the Middle East.
The figure will grow to $112.5 billion in 2016.
The sector is expected to contribute $27.3 billion or a 2.6 per cent in 2006 to the Gross Domestic Product (GDP), rising to $58.9 billion by 2016. The report also forecasted 4,590,000 jobs in 2006, 10.1 per cent of total employment with an increase up to 6,141,000 jobs, by 2016.
The WTTC reported that various events including the December 2004 tsunami, and the bombings in London and Egypt had localised impact, but did not materially impact global Travel & Tourism, which continues to climb to new heights.
Said WTTC president, Jean-Claude Baumgarten, “We are witnessing the power, speed and vitality of Travel & Tourism and how it can bring economic opportunity and jobs to people and economies around the region that are seeking ways to create sustainable development.
The global activity is setting new records, but what is really amazing is how new destinations like Dubai, Bahrain, Oman, and others are using Travel & Tourism as a catalyst for broader economic development."
Richard Miller, executive vice president said that the years 2004 to 2006 will come to be seen as a period of significant growth as consumers become resilient to natural disasters and terror attacks.
TTN is the most established trade publication in the Middle East distributed on a controlled circulation basis to members of the travel and tourism industry.
Published monthly by Al Hilal Publishing and Marketing Group, the region’s foremost trade publisher, TTN is aimed at professionals in the industry, from travel agents to airline and hotel personnel.
TTN provides in-depth and extensive coverage of relevant issues in the Middle East and North Africa as well as in other parts of the world. Travel related news, analysis, and new appointments together with information on up-coming exhibitions, marketing and promotional campaigns are presented in an innovative and striking colour tabloid.
Every issue also contains a collation of international and regional news and topical features of interest to readers.