The ITIC-ATM Middle East Summit at the Arabian Travel Market (ATM) 2022 taking place at Dubai World Trade Centre (DWTC) from May 9 to 12 will shine a spotlight on access to project finance in the post-Covid era. Hosted jointly by ATM and the International Tourism & Investment Conference (ITIC), this year’s summit will be held on May 10 and will feature industry experts who will discuss the Middle East as a financial hub for future worldwide tourism investment.
According to analysis from BNC Network, hotel contracts worth $4.5 billion are expected to be awarded in the GCC during 2022, representing year-on-year growth of 16 percent.
The UAE generated the highest value of cumulative hospitality-related contracts in the GCC last year, followed by Saudi Arabia. The combined value of UAE and KSA projects accounted for more than 90 percent of all hospitality contracts awarded in the region during 2021, according to the research.
On a regional level, data released by STR shows that more than 169,000 pipeline rooms are currently under contract across the Middle East, the three most active cities being Dubai, Makkah and Doha, respectively.
This year’s ITIC-ATM Middle East Summit therefore represents a timely opportunity for travel and tourism professionals to explore regional investment opportunities, discover new modes of financing and network with peers from around the world.
Danielle Curtis, Exhibition Director ME – Arabian Travel Market, said: “Development in the Middle East is progressing at a rapid pace. Fuelled by ambitious national initiatives such as Expo 2020 Dubai, FIFA World Cup Qatar 2022 and Saudi Vision 2030, our region is witnessing significant levels of tourism-related investment, and this trend shows no sign of abating anytime soon.
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