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Mid-East travel and tourism industry to increase spending on IoT tech by 22% by 2022

Middle East online travel and hospitality market will outpace the global market by 17% over the next three years, with annual sales exceeding $100 billion by 2022

M.E. online travel and hospitality sales to exceed $100 billion by 2022 ATM to launch ‘Travel Forward’ conference to examine next-gen’ industry innovation ATM welcomed almost 40,000 people, representing 150 countries to its 2019 event

, says Arabian Travel Market report

The Middle East’s travel and tourism industry is expected to increase its spending on Internet of Things (IoT) technology by 22% by 2022, according to data published ahead of the inaugural edition of Travel Forward, which will take place alongside Arabian Travel Market (ATM) 2020 at Dubai World Trade Centre from 19 – 22 April 2020.

With technological advances not only continuously evolving, but indeed accelerating the quality of life, and the introduction of new innovations such as artificial intelligence (AI), robotics, Virtual Reality (VR) and IoT, Colliers International predicts the Middle East online travel and hospitality market will outpace the global market by 17% over the next three years, with annual sales exceeding $100 billion by 2022. 

Read: ME airlines traffic grew 2.9% in Aug., far below double-digit growth in recent years

The debut Middle East edition of Travel Forward will cover the full spectrum of industry tools, from emerging innovations such as augmented reality (AR), virtual reality (VR), artificial intelligence (AI), robotics and machine learning, to existing systems such as booking engines, business management software and end-user technology.

A ‘Startup Competition’ will give suppliers the opportunity to make a six-minute visionary pitch about their latest innovation to a panel of judges. The three most impressive tech startup pitches will then be selected to present to the entire conference theatre, where audience members will vote for a winner who will receive service ‘tokens’ from a company and/or cash and/or mentoring. 

ATM welcomed almost 40,000 people, representing 150 countries to its 2019 event.

Read: UAE aviation sector to produce 620,000 new jobs, extra $80 billion in GDP, by 2037: IATA

Adopting Events for Tourism Growth as the official show theme, ATM 2020 will build on the success of this year’s edition with a host of seminar sessions discussing the impact events have on tourism growth in the region while inspiring the travel and hospitality industry about the next generation of events.

World Travel Market (WTM) portfolio comprises four leading B2B events across four continents, generating more than $7 billion of industry deals.