The 24th annual Arabian Travel Market (ATM) event is set to begin on Monday, at a time of change in the industry. Costly trips abroad for many due to the strong dollar, travel restrictions to the US, and a focus on ÒexperientialÓ travel are all forcing tourism and leisure companies to rethink their approach to the region.
Running from April 24-27, ATM 2017 will see travel trade professionals from across the world’s hospitality industry descend upon Dubai for the opening day of the event, held at Dubai World Trade Centre (DWTC).
ÒThe growth and scale of ATM 2017 is testament to the buoyant travel and tourism industry here in the Mena region,” said Simon Press, Senior Exhibition Director, ATM, in a statement.Ê”It is no secret the growth we observe in the regional industry is spurred by visionary national agendas and a favourable and thriving business environment. With a series of mega-events scheduled for the coming years, including Expo 2020, this growth will undoubtedly continue.Ó
The travel and tourism sector has is becoming increasingly important to the UAE’s plans of a post-oil economy. In 2015, the sector made up 8.7 per cent of the country’s total GDP, a figure that is expected to rise to 11.2 per cent of GDP in 2026.
According to BNC Network, a project database, as of 2017 there were 1,153 active hospitality projects in the region, with 62 projects, valued at $2.48 billion, added to the list in the first quarter of this year.
The entire value of all 1,153 active hospitality projects in the region exceeds $148.4 billion, according to the company’s research.
Experiential travel
One of the key themes at ATM 2017 is expected to be the rise of experiential travel, encompassing adventure, culture, heritage, health and wellness, sports, and theme parks.
More than 40,000 industry professionals, including 30,000 trade visitors, agreed deals worth $2.5 billion (Dh9.2 billion) at ATM 2016, and it is expected that ATM 2017 will welcome over 2,600 exhibitors Ñ with 100 exhibiting for the first time Ñ across 65 national pavilions.
The GCC’s hospitality industry currently constitutes 7 per cent of all active projects in the GCC’s urban construction sector.
ÒWith Expo 2020 only three years away, we see dozens of ambitious projects being announced across the UAE. From airports to cities-within-cities, the country has a master plan for growth and development, including a pipeline of 160,000 hotel rooms, and it is vital that such plans are discussed in forums such as the ATM Global Stage 2017,Ó Press said.
This pipeline of hotel rooms is expected to usher in a slew of three star properties, after a decade of predominantly four and five-star hotel openings.
ÒWhat is particularly important to remember is that tourism is a central pillar to the economic diversification of the UAE and its Middle East neighbours, which means tourism will continue to grow after Expo 2020 and the 2022 Fifa World Cup in Qatar,Ó he added.
