$3.39 trillion to be invested in Mid East hotels and tourism Infrastructure by 2020
(MENAFN Press) Dubai 3rd June 2007 - The Middle East Hotel Outlook 2020, an update of the groundbreaking Global Futures and Foresight (GFF) research study on the Future of Travel and Tourism in the Middle East, was unveiled during The Hotel Show, today. According to the study, which covers 13 Middle Eastern countries, over US$3.39 trillion will be invested in regional Hotels and supporting infrastructure by 2020. The study, which is taking a 'futures' perspective on the trends and drivers shaping travel and tourism in the region to 2020 and beyond has identified plans to add at least 750,000 Hotel rooms to the hospitality landscape from Egypt to Iran. They found projected construction costs for the most recent announcements from over 30 developers, investors and operators vary from US$100,000 to US$2.3m per room. "The research draws on a range of methods to explore potential scenarios, challenges and opportunities for regional travel and tourism and provides practical advice on how players in the sector can factor these insights into their planning," said Rohit Talwar, Joint CEO of GFF and co-author of the study.
