WTTC 2008 Prediction Of Middle East Tourism Growth
Jan - 28 | 
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Overseas Property News
flickr credit Olinster
It’s a good week yet again in the Middle East: the head of the World Travel & Tourism Council (WTTC) has announced that it is set to be the only region to remain on course for its 5% growth in its travel and tourism industries in 2008.
Speaking at the inaugural Tourism Development Projects and Investment Market in Dubai, WTTC president Jean Claude Baumgarten was clear that the region’s forecast would remain unchanged, despite widespread international economic uncertainty. Concerns including high oil prices, US housing problems as well as skyrocketing Chinese growth and its subsequent impacts, are causing jitters across the board and yet Baumgarten said the Middle East’s targets for the year would remain on course because the region had recognised the growth potential of the travel industry and was investing accordingly. Dubai, in particular, has invested heavily in the infrastructure needed to support its growing tourism arrivals with new airports and roads links which owners of Dubai real estate are subsequently benefiting from. The economic boost local citizens receive from improved tourism income has also turned the prospect of international travel into a reality for a large number of individuals raising demand for regional tourism opportunities.
The United Arab Emirates (UAE) is leading the region, investing widely in providing a strong infrastructure, air transport, roads and port hubs now ranked 7th, 12th and ninth in the world. Both the UAE and Qatar have exceeded their own expectations and targets year-on-year – 2008 is set to be more stable for both countries.
Other countries looking at a good year ahead include those in the Asia-Pacific region, an area revised upwards by 0.1 percentage points to 5.6%, the highest regional growth rate for the travel and trade industry. Latin America recorded the highest increase in percentage points in its forecast to 4.2%, upgraded in a ranger between 0.5 to 1.5 percentage points.
Baumgarten went on to add that the regions that would be most affected by worsening global economic conditions included North America, Africa and Europe, with North America’s annual industry growth forecast in 2008 being revised to 3.3%, down 0.1 percentage points.
The growth in UAE Dubai has been amazing. I watched a show on the making of the Palm Island how amazing they were determined to provide this option as space became limited. The engineering marvels have taken place there and much can be learned from there structures.
It’s strange many Europeans are are heading to the Middle East and Tourism from the Middle East to the Far East is also up, funny old world we live in.