UAE's tourism project investments exceed 85 per cent of GCC total

Out of a total of AED 1 trillion committed to tourism-related projects in the GCC expected to be completed by 2018, the UAE accounts for investments of AED 858 billion that will go into developing tourism projects across the country. Oman, with AED 61 billion in tourism project investments, and Qatar, with AED 31.1 billion, occupy the second and third slots among GCC countries. Bahrain (AED 20.77 billion), Saudi Arabia (16.44 billion) and Kuwait (12.67 billion) have also managed to attract significant investments into tourism project development. The figures exclude infrastructure costs such as power plants and transport networks.

The survey was undertaken by Reed Exhibitions in preparation for the inaugural edition of the exhibition, TDIM 08 (Tourism Development Projects & Investment Market). Reed Exhibitions is hosting the show at the Dubai International Exhibition & Convention Centre from January 20 to 22, next year. TDIM will focus on strengthening investment flows, resources and expertise into tourism development in the UAE and elsewhere in the region.

Reed's survey has also shown that the UAE tops the GCC in terms of land area occupied by tourism projects. It has an area of 558 million square meters under development for tourism projects accounting for more than 75 percent of the combined land area under development for tourism in the GCC.

Of the UAE total, Dubai accounts for more than 50 percent of the value of the UAE's tourism projects with over AED 450 billion in investment. Abu Dhabi occupies the second slot with AED 305 billion in investment with the other emirates accounting for the remaining 14 percent. In terms of land area too Dubai dominates with 83 percent of the total land space allocated to tourism projects, with Abu Dhabi in second place with an 11 percent share.

"Projected investments in tourism projects in the MENA region are in excess of AED 1.2 trillion. The UAE is the clear leader in attracting investment and the efforts and commitment of the UAE's leaders in developing a series of pioneering tourism landmarks in the UAE have paid off handsomely", said Frederic Theux, President of Reed Exhibitions Middle East.

Theux stated Reed's research had shown that investors were seeking a platform to identify new tourism projects and initiate discussions. Operators of globally known tourism landmarks were actively exploring joint venture partnerships in the region whereas tourism destinations in the region were looking for exposure among a highly targeted visitor audience.

"There are several stakeholders involved in the region's tourism development and all of these entities need a common networking platform. This is what TDIM seeks to provide and through the event we want to bring together the world's key players. We hope the show will help the tourism developers here to source the best technology, standards and practices in the sector from all parts of the world," Theux said.

"TDIM will focus on showcasing tourism projects in the planning stage which are looking to attract investors, operators, global destination brands, planners and financial institutions", he added.

In order to provide added value for exhibitors at TDIM, Reed will organise a unique Business Meeting Programme at the show called HICE (Hosted Investors & Corporate End Users). The programme will provide opportunities for decision-makers and suppliers to meet, interact and conclude business deals.