ATM 2013 road show kicks off in Kuwait
Kuwait, February 4, 2013
Reed Travel Exhibitions (RTE), organiser of the upcoming Arabian Travel Market (ATM), a major travel and tourism event in Dubai, has launched its annual GCC & Levant road show series, with the first event kicking off in Kuwait City.
RTE officials met with industry leaders to discuss the opportunities and challenges facing the country at the JW Marriot yesterday.
The road show will visit eight destinations over a two-week period, with similar sessions taking place in Bahrain, Qatar, Lebanon, Jordan, Oman and the UAE.
“Kuwait is now midway through its latest five-year tourism plan, which has leisure sector growth as its primary focus. This is supported in the mid to long term by an investment of $6 billion to expand the capital’s airport, with a second terminal by 2016, and a new $7 billion metro system which will be operational by 2020,” said Mark Walsh, portfolio director, Reed Travel Exhibitions.
“Tourist arrivals are also expected to increase at a CAGR of 4.9 per cent between 2012 and 2022. Kuwait has the highest proportion of budget hotels in the region (around 22 per cent) and the potential to capture a broad international target audience offers exciting prospects for leisure project developers looking at opportunities in and around Kuwait City,” he added.
The Alpen Capital report noted a 1.9 per cent drop in average daily rate (ADR) for Q1 2012 accompanied by a decline in occupancy over the same period, but forecasts mid-term occupancy rate growth to rise from 58 per cent in 2011 to 62.5 per cent in 2016, with ADR to grow at a CAGR of 1.3 per cent to reach $260 by 2016.
Alpen Capital also reported growth in CAGR for the hospitality sector at 8.1 per cent over the period 2011–16.
Alpen’s October 2012 GCC Hospitality Industry Report estimates 2012-13 GDP growth of 3-5 per cent and a strong business travel base. The development of Kuwait’s existing leisure and business infrastructure is also set to drive new inbound business, with steady tourism growth over the last decade, leading to an increase in international tourist arrivals of 13 per cent for the period 2001-2011, and tourism receipts of $5.3 billion in 2011.
Kuwait’s $13 billion investment in its transport infrastructure is driving its tourism sector, according to government officials.
In a recent interview, Khaled Al Ghanim, deputy chairman and managing director, Kuwait Tourism, confirmed that in addition to government projects, Touristic Enterprises Co is also planning to launch a raft of entertainment, sports and tourism projects valued at up to $460 million, boosting Kuwait’s regional status.
The report also stated that hotel supply in UAE is expected to increase at a CAGR of 5.3 per cent from 96,992 hotel rooms in Dubai and Abu Dhabi to 125,383 hotel rooms in 2016. Currently, there are 93 properties in the planning and construction phase in the UAE.
According to the HVS Dubai 2012 report, Saudi Arabia and the UAE remain the most important regional source markets, with the UK accounting for around 15 per cent of annual demand as the largest European source market.
Arabian Travel Market is set to celebrate its 20th anniversary, running from May 6 to 9 at Dubai International Exhibition and Convention Centre.
Covering the entire week, the Seminar Theatre programme will address industry hot topics from developments in the aviation sector, inbound and outbound trends as well as the development of tourism over the last 20 years of Arabian Travel Market.
Back for the second year, the Technology Theatre is a dedicated platform that provides an opportunity to gain invaluable insight into leading edge industry-related technologies including social media and GDS.
The line-up for this year’s Arabian Travel Market will once again bring together the UNWTO regional tourism ministers’ conference and the WTM Vision forum, which will focus on Middle East travel trends and the online travel market. – TradeArabia News Service