According to Worsley, government initiatives are essential to kick-start any periods of major growth, but it is private sector investment that is needed for the future.
He said: "Economies in Arabia are rapidly maturing. Gone are the days when oil wealth was enough to cover their expansion plans; inward investment will be the backbone of tourism growth and is essential to broaden and deepen countries' infrastructures.
"Global private sector capital is the means to achieve countries' economic objectives and, as we are seeing now, the Arab world offers great opportunity for international investment."
The issue of private sector versus public sector investment is one of the topics scheduled for discussion at AHIC. A curtain raiser to the Arabian Travel Market, the conference will run from April 30 to May 2, 2005 at the Madinat Jumeirah conference centre in Dubai.
"The Arabian Gulf is the most dynamic hotel investment and development market in the world" said Blair Hagkull, partner of the Dubai-based RSP Group, who is moderating a panel on real estate funding at the conference.
"The next wave of freehold real estate development has seen a full range of world-class hotels anchoring every major real estate development in the region. While governments have created the positive environment for new hotel development, it is primarily the private sector that is building new hotels and resorts in the Arabian Gulf."
The conference is organised by CB Richard Ellis Hotels, the largest commercial real estate firm in the world, and MEED Conferences. Details of AHIC can be found on www.arabianconference.com.
At the event, industry leaders will discuss the future of tourism in the region and the drive to encourage inward investment.
The advisory panel includes among others: Sarmad Zok, CEO Kingdom Hotel Investments; Salem bin Dasmal, CEO of Dubailand; Gerald Lawless, managing director of Jumeirah International; James Wilson, president of IFA Hotels and Resorts; Wahid Attala, executive director of Nakheel; Jurgen Baumhoff, CEO of Qatar National Hotels; Jean-Claude Baumgarten, president of World Travel & Tourism Council; and regional directors from international hotel groups InterContinental, Marriott, Movenpick, Rezidor SAS and Rotana.
Already signed up as platinum sponsors are: IFA Hotels and Resorts; Nakheel Company LLC; Kingdom Hotel Investments and Rezidor SAS Hospitality.
Gold sponsors are: Arabian Travel Market; Deloitte; Dubai Festival City; Gullivers Travel Associates; HVS International; Interval International; Jones Lang LaSalle; Jumeirah International; InterContinental Hotels Group; Le Méridien Hotels & Resorts; Marriott International; Movenpick Hotels & Resorts; RCI Middle East; Octopus Travel; RSP Group; Starwood Hotels & Resorts Worldwide and Strategic Solutions.
Media sponsors are: AME Info, CNBC Arabia, CNBC Europe, Global Hospitality Resources, HOTELS, Sleeper and TTN.
Supporters are: Dubai Convention Bureau, Emirates Academy of Hospitality; International Hotel & Restaurant Association; Villeroy & Boch; the World Travel & Tourism Council and WOW Travels.
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Private investment 'the backbone' of tourism growth in Arabia
- United Arab Emirates: Tuesday, January 11 - 2005 at 12:49
- PRESS RELEASE
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Private investment is essential in developing tourism areas such as Arabia, in order to sustain the infrastructure and economy, claims Jonathan Worsley, organiser of the first Arabian Hotel Investment Conference (AHIC), to be held in Dubai on April 30 - May 2, 2005.
Jonathan Worsley, organiser of the first ever Arabian Hotel Investment Conference, to be held in Dubai from April 30 - May 2, 2005.
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Posted by Lara Lynn Golden, News EditorTuesday, January 11 - 2005 at 12:49 UAE local time (GMT+4)
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This article was updated on Sun Apr 10 2005.
Notes and Media Contacts »
Media information:
Kirstie Hepburn / Fiona Swaffield
Strategic Solutions for Arabian Hotel Investment Conference
Tel: +971 4 3915390, fax: +971 4 3672527
About the Organisers:
CB Richard Ellis Hotels
CB Richard Ellis is the largest commercial real estate firm in the world, with 250 offices in 48 countries. CB Richard Ellis Hotels focuses exclusively on the hospitality industry providing consultancy services for the sale, valuation, financing, development and asset management of hotels. CB Richard Ellis Hotels has been involved in several of the largest transactions in Europe, specialising in investment opportunities and sale and leasebacks that have typified the changing times. Jonathan Worsley of CB Richard Ellis Hotels has taken a lead in developing networking events for the industry by organising the International Hotel Investment Forum in Berlin, the European Hotel Design Awards in London and now the Arabian Hotel Investment Conference in Dubai. Jonathan also sits as an advisor to the World Travel & Tourism Council.
Contact:
Jonathan Worsley +44 1483 835794
MEED
MEED (Middle East Economic Digest) is internationally recognised as providing essential information for anyone doing business in, or with, the Middle East and North Africa. MEED now attracts over 70,000 individual readers each week, across 70 countries worldwide.
MEED Conferences is part of the leading information brand in the Middle East working to provide delegates with the very latest business sensitive information. Over the past 10 years, MEED Conferences has organised events attended by senior government officials and thousands of international business people. The conference series is aimed at companies active or seeking business in the markets of the Middle East. MEED is well established as the source of strategic and accurate regional information placing it in a unique position to bring together high-calibre speakers.
Contact: Francesca Ambrosini on +44 20 7505 6008
About the Arabian Travel Market
The Arabian Travel Market, which follows on from the Arabian Hotel Investment Conference, is now in its 12th year and organised by Reed Travel Exhibitions (RTE) the largest travel trade exhibitions organiser. RTE also organises World Travel Market, EIBTM, Mediterranean Travel Fair, CIS Travel Market, British Travel Trade Fair, International Golf Travel Market, AIME (Asia Pacific Incentives and Meetings Expo), LACIME, La Cumbre, ILTM (International Luxury Travel Market), Top Resa, and the ICCA Exhibition in Association with the ICCA Congress. The show is held under the patronage of the Department of Tourism and Commerce Marketing, the Government of Dubai.
Contact: Vicky Crane on +44 (0) 20 8910 7944
Kirstie Hepburn / Fiona Swaffield
Strategic Solutions for Arabian Hotel Investment Conference
Tel: +971 4 3915390, fax: +971 4 3672527
About the Organisers:
CB Richard Ellis Hotels
CB Richard Ellis is the largest commercial real estate firm in the world, with 250 offices in 48 countries. CB Richard Ellis Hotels focuses exclusively on the hospitality industry providing consultancy services for the sale, valuation, financing, development and asset management of hotels. CB Richard Ellis Hotels has been involved in several of the largest transactions in Europe, specialising in investment opportunities and sale and leasebacks that have typified the changing times. Jonathan Worsley of CB Richard Ellis Hotels has taken a lead in developing networking events for the industry by organising the International Hotel Investment Forum in Berlin, the European Hotel Design Awards in London and now the Arabian Hotel Investment Conference in Dubai. Jonathan also sits as an advisor to the World Travel & Tourism Council.
Contact:
Jonathan Worsley +44 1483 835794
MEED
MEED (Middle East Economic Digest) is internationally recognised as providing essential information for anyone doing business in, or with, the Middle East and North Africa. MEED now attracts over 70,000 individual readers each week, across 70 countries worldwide.
MEED Conferences is part of the leading information brand in the Middle East working to provide delegates with the very latest business sensitive information. Over the past 10 years, MEED Conferences has organised events attended by senior government officials and thousands of international business people. The conference series is aimed at companies active or seeking business in the markets of the Middle East. MEED is well established as the source of strategic and accurate regional information placing it in a unique position to bring together high-calibre speakers.
Contact: Francesca Ambrosini on +44 20 7505 6008
About the Arabian Travel Market
The Arabian Travel Market, which follows on from the Arabian Hotel Investment Conference, is now in its 12th year and organised by Reed Travel Exhibitions (RTE) the largest travel trade exhibitions organiser. RTE also organises World Travel Market, EIBTM, Mediterranean Travel Fair, CIS Travel Market, British Travel Trade Fair, International Golf Travel Market, AIME (Asia Pacific Incentives and Meetings Expo), LACIME, La Cumbre, ILTM (International Luxury Travel Market), Top Resa, and the ICCA Exhibition in Association with the ICCA Congress. The show is held under the patronage of the Department of Tourism and Commerce Marketing, the Government of Dubai.
Contact: Vicky Crane on +44 (0) 20 8910 7944
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