The growth in the hospitality sector revenue of individual GCC countries is expected to range from a CAGR of 6.9% to 11.0% between 2023 and 2028. Saudi Arabia is projected to grow in line with the GCC average of 7.5%, supported by numerous government-led initiatives as part of its Vision 2030, whereas the UAE is expected to grow at a CAGR of 6.9%, backed by the government’s focus on modernizing infrastructure and easing tourist visa rules. Smaller markets are expected to witness high growth rates during the forecast period, with Qatar at 11.0%, Kuwait at 10.5% and, Oman and Bahrain at 9.0% CAGR. According to Alpen Capital, the GCC hospitality sector revenue is expected to grow at a CAGR of 7.5% from 2023 to 2028, reaching approximately US$ 48.1 billion by 2028. This robust growth is fueled by the unified efforts of the GCC countries in prioritizing hospitality as a key element of their long-term diversification strategies. Furthermore, steady economic growth, increasing tourist arrivals and a multitude of mega MICE (Meetings, Incentives, Conferences, and Exhibitions) and sporting events to be hosted in the region will support the projected growth. “A rising trend towards sustainable tourism and responsible travel is gaining ground across the GCC’s hospitality sector due to increasing ecological awareness among consumers worldwide. The tourism industry is experiencing a surge in the popularity of new segments, such as cultural tourism and health & wellness tourism, reflecting evolving consumer likings and lifestyles. Despite market competition and geopolitical uncertainties, the industry continues to strategically enhance visitor experiences and stimulate demand through innovation and consolidation. We expect to witness healthy domestic and cross-border M&A activity, as the sector advances to respond to the …

UN Tourism’s member states in the Middle East have looked to the future, coming together to focus on boosting investments into the sector and growing new products to build resilience and expand inclusivity. The Regional Commission for the Middle East welcomed high-level delegations from 13 Member States, including eight Ministers of Tourism. Welcoming delegates, UN Tourism Secretary-General invited all Members to join him in celebrating the Golden Jubilee of the Commission, noting that, over the course of 50 meetings, they have worked together to grow tourism both in size and in impact right across the region. Secretary-General Zurab Pololikashvili provided Members with an update on the Organization’s work since the Commission last met (Jordan, June 2023), with special attention to key priorities of tourism education, jobs and investments. Opening the meeting he said: “Now, we can confidently say that the Middle East is a true global tourism leader. Not just in terms of arrivals, but the region is influencing our sector’s development everywhere in the world. It is a hub of tourism innovation and education. And it is a leading investor, backing big ideas and ambitious projects with the power to transform tourism at every level.” Now, we can confidently say that the Middle East is a true global tourism leader. Not just in terms of arrivals, but the region is influencing our sector’s development everywhere in the world. More diverse, more innovative tourism Following the reports of the Secretary-General and the Regional Director for the Middle East, the focus switched to building a more diverse, resilient and innovative sector. Reflecting UN Tourism’s commitment to build resilience and create opportunities through diversification, the significant potential of wellness tourism for the region …

UN Tourism has presented a new volume of its “Tourism Doing Business: Investment Guidelines”, this time with a focus on the investment potential of the Hashemite Kingdom of Jordan. The report was launched at the Conference “Investing in Tourism: Opportunities and Challenges for Sustainable Financing”, part of the 50th UN Tourism Regional Commission for the Middle East. Elaborated in collaboration with the Ministry of Tourism and Antiquities of Jordan, the guide provides a comprehensive overview of the socioeconomic reality of the Kingdom, its tourism performance, and investment opportunities. In front of an audience composed of high-level officials, investors, and experts from across the region, UN Tourism highlighted the appealing value proposal of the country, which counts with globally recognized UNESCO World Heritage sites, a New Wonder of the World, Petra, and unique natural attractions with celebrated therapeutic benefits. H.E. Mr. Makram Queisi, Minister of Tourism and Antiquities of the Hashemite Kingdom of Jordan, affirmed: “One of Jordan’s driving forces of recovery is the active and solid partnership we have with the private sector. The government of the Hashemite Kingdom of Jordan has embarked on legislative reforms targeting investment as a whole by introducing a new investment law and also significant reforms in the tourism law. These reforms are the result of direct and continuous dialogue with the private sector. We are taking solid steps into transforming Jordan into a haven for investors, and with the help of our formidable partnership with UN Tourism and the introduction of the UN Tourism investment guide of the Hashemite Kingdom of Jordan we are on the right track”. Natalia Bayona, UN Tourism Executive Director, who presented the report’s content at the conference, stated: “Jordan …

Turkish Airlines and KM Malta Airlines signed a code-sharing agreement to operate joint flights, effective as of June 15 2024. The codeshare agreement will provide passengers of both flag carrier airlines more flexible travel options on direct flights between Istanbul and Malta. Within the scope of the cooperation, KM Malta Airlines will place their marketing flight numbers on Turkish Airlines flights between Istanbul – Malta and vice versa. On the codeshare agreement, Turkish Airlines CEO Bilal Ekşi stated: “We are pleased that the codeshare agreement with KM Malta Airlines will re-foster cooperation between the two countries and provide seamless journeys for passengers flying from Malta and Türkiye. Not only does this partnership enable Maltese travelers to benefit from the wide network of Turkish Airlines on a global scale, but also promotes more visitors from Malta to visit our unique country, Türkiye. Likewise, Malta, the fascinating island nation of the Mediterranean, will attract more visitors. We look forwards to a successful, long-standing collaboration together.” KM Malta Airlines Executive Chairman David G. Curmi noted that: “We are very pleased to count Turkish Airlines among our codeshare partners. Istanbul is a major hub connected with Malta twice every day, offering our Maltese customers a large choice of destinations. It also allows our international customers enhanced connectivity through Malta International Airport, linking both our networks. It also shows that KM Malta Airlines is recognized by large carriers as a partner of choice.” The codeshare flights will be available for purchase through the airlines’ sales channels such as turkishairlines.com and kmmaltairlines.com websites.

Last year, the travel and tourism sector in Saudi Arabia grew over 32% to contribute a record-breaking SAR 444.3BN to Saudi’s GDP, representing 11.5% of the entire economy. This exceeded the previous record by almost 30% and underscores the sector’s pivotal new role in the nation’s economic framework. The World Travel & Tourism Council’s 2024 Economic Impact Research (EIR) has revealed a record-breaking year for travel & tourism in Saudi Arabia, with new records in GDP contribution, sector jobs and visitor spend. Saudi Arabia’s travel & tourism sector is now soaring past all previous records, testament to the country’s commitment to becoming a global tourism hot spot. Jobs supported by the sector grew by 436,000 to reach more than 2.5MN, representing almost one in five jobs in the country. Although the jobs lost during the pandemic were fully recovered in 2022, today’s announcement shows sector employment in Travel & Tourism has increased almost 24% since the previous peak. International visitor spending surged by almost 57% to reach SAR 227.4BN, breaking the previous record by SAR 93.6BN, while domestic visitor spending grew by 21.5% to reach SAR 142.5BN. Seven years ahead of its target, Saudi Arabia welcomed 100MN tourists in 2023. Today, the country is surging toward even greater heights and has set a more ambitious aim of attracting 150MN tourists by 2030. Julia Simpson, WTTC President & CEO said; “Saudi Arabia’s Travel & Tourism sector’s extraordinary achievements last year mark a pivotal moment in its journey towards becoming a global tourism leader. “This success is a direct result of the Kingdom’s visionary commitment to the sector, showcasing an impressive fusion of cultural heritage and innovative tourism initiatives. As the sector continues …

After intensive examination and in close coordination with the provisional insolvency administrator Axel Bierbach and the German Travel Security Fund (DRSF), FTI Touristik GmbH has decided to cancel all trips with departure dates up to and including Friday, 5 July 2024. The company has immediately started to inform the affected customers and service partners about the cancellations. “Since the beginning of the week, together with FTI and the DRSF, we have been examining all options for the further realisation of already booked trips in the interest of our customers. A solution seems possible, but not in the next few days. In the interests of customers departing at short notice, we therefore believe that the best solution is to cancel all trips starting in the next four weeks. This will give customers the planning security and flexibility they urgently need for their upcoming holidays”, said the provisional insolvency administrator Bierbach on Friday in Munich. According to him, operating the trips during this period would have been associated with too many uncertainty factors and risks for holidaymakers in the destination countries. The decision affects all package holidays, individual bookings and individual services that customers have booked for this period via FTI Touristik GmbH, the sales brand 5vorFlug and BigXtra Touristik GmbH. Thursday, 6 June 2024, the subsidiary BigXtra Touristik GmbH, which belongs to the FTI GROUP, also filed for insolvency at the Munich Local Court. Axel Bierbach from the law firm Müller- Heydenreich Bierbach & Kollegen (Munich) was also appointed provisional insolvency administrator for this company. FTI and the provisional insolvency administrator, together with the DRSF, are continuing to work hard to find a solution that best serves the interests of customers …

SAUDIA and Virgin Atlantic have signed a codeshare agreement effective June 2024 to provide a range of benefits to SAUDIA’s guests and Virgin Atlantic’s passengers, enriching their travel experience and expanding route networks for both airlines to serve the tourism and business sectors. The codeshare agreement offers a range of benefits for travelers on both airlines. Guests will enjoy a smooth and hassle-free travel experience with the ability to book connecting flights on both SAUDIA and Virgin Atlantic under a single ticket. This simplifies the booking process and ensures seamless baggage handling to their destination. Additionally, frequent flyers can leverage their existing membership benefits and accrue mileage towards status upgrades on both airlines. Notably, SAUDIA’s AlFursan members can specifically earn and redeem miles on Virgin Atlantic flights. Under this new codeshare agreement, SAUDIA guests will be able to seamlessly travel from Jeddah and Riyadh to ten destinations across the United States and the Caribbean Islands via Heathrow and Manchester airports in the United Kingdom utilizing Virgin Atlantic’s extensive flight network. Furthermore, the Virgin Atlantic passengers traveling from the United States will be able to conveniently book flights via London Heathrow and Manchester airports, connecting them to SAUDIA’s services in Jeddah and Riyadh.

Emirates and Condor have signed a reciprocal codeshare partnership that will start from October 2024, subject to government approvals. The new agreement will offer seamless connections and expanded choices for Emirates customers connecting on Condor-operated flights via Germany to popular destinations in Majorca and the Canary Islands as well as international points in North, Central and South America and the Caribbean. The expanded partnership will see Condor place their marketing code “DE” on Emirates-operated flights beyond Dubai to some of the most attractive global tourism hotspots, offering new travel options for Condor customers to many unique destinations across the Middle East, Africa, Central Asia and the Indian subcontinent. The codeshare activation coincides with Condor’s Berlin-Dubai route launch this October. The agreement was signed by Adnan Kazim, Emirates Deputy President and Chief Commercial Officer, and Peter Gerber, CEO of Condor, at the IATA Annual General Meeting in Dubai. The signing ceremony was also attended by members of each airline’s executive management teams. Adnan Kazim commented: “We are pleased to further strengthen our partnership with Condor, one of the most popular leisure airlines in Germany, to offer their customers greater access and strong connection opportunities to unique destinations in our network, complemented by Emirates’ signature in-flight service and hospitality throughout their journey from Dubai. Emirates currently has commercial cooperation agreements in place with 161 interline, codeshare and intermodal partners expanding its network reach to over 1650 cities.” Peter Gerber, said: “To partner up with Emirates, one of the world’s leading airlines, is an important strategic milestone for Condor and our customers. We are happy to offer seamless and even better connectivity by intensifying our existing interline partnership to a codeshare. Our guests will …

The Board of Directors of NEOM  revealed the development of Magna, its luxury lifestyle coastal destination. Part of NEOM’s regional sustainable tourism portfolio, Magna is situated on the stunning Gulf of Aqaba coastline and comprises the recently announced premier destinations of Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, Treyam and Jaumur. The twelve destinations will span 120 kilometers and are poised to set a new global standard in luxury sustainable tourism. As the physical embodiment of the ambitious and future-focused Saudi Vision 2030, Magna will be developed with a core focus on cutting-edge technology, world-class architecture, and ultra-modern amenities that effortlessly merge with nature. Each destination is individually unique, with its own distinct offering for residents and guests, yet seamlessly blends to form a unified destination. They will be woven together by the conservation, preservation, and rejuvenation of native flora, fauna, and the breathtaking natural landscape. The development will comprise 15 luxury hotels, 1,600 hotel rooms, suites and apartments, and over 2,500 premium residences across its destinations. Nadhmi Al-Nasr, Chief Executive Officer, NEOM, said: “NEOM’s premier coastal region of Magna is a treasure of tomorrow, steeped in natural beauty and advanced technology. Aligned with our three pillars of redefining business, conservation, and livability, Magna will play a key role in building a strong tourism ecosystem within NEOM. Importantly, Magna will contribute positively to the national economic diversification efforts and to the broader Saudi Vision 2030 goals, helping to position the Kingdom as a global leader in luxury tourism.” In line with the transformative Saudi Vision 2030, Magna and its destinations will stimulate the Kingdom’s economy by creating 15,000 jobs across the tourism, leisure, and hospitality sectors. The …

Vessev, a global leader in sustainable marine technology revealed the VS-9 which will unlock entirely new opportunities for premium passenger transport on the water. By partnering with Fullers360, New Zealand’s largest ferry operator, the VS-9 will become the first fully electric passenger vessel to operate in Auckland and the first hydrofoiling tourism vessel to operate in the world. NetZero Maritime, Fullers360’s specialist maritime green technology and innovation team, has played a pivotal role in the adoption of this new type of vessel. Designed and built by Vessev (formerly Seachange) the VS-9 delivers smooth and quiet travel on the water like never before. The state-of-the-art vessel is currently undergoing sea trials out of Auckland, New Zealand, and the first VS-9 will be certified this year, entering commercial operation with Fullers360 thereafter. The nine-meter VS-9 will transport up to 10 passengers at a service speed of 25 knots providing an experience that is more like flying than sailing The VS-9 has a range of 50 nautical miles (57 miles/92.6km) thanks to state-of-the-art efficient hydrofoiling technology. Eric Laakmann, Vessev CEO, said: “We are in the earliest stage of a global transition to sustainable energy use. Our partnership with NetZero Maritime is one of the most powerful in the world in accelerating the adoption of new technologies. There are 33 million vessels in the world today with sustainable vessels representing the smallest fraction. Through significant enhancements in efficiency, hydrofoiling will play a key role in this once-in-a-generation shift. Vessev’s expert team of marine engineers and boat builders, combined with Fullers360’s NetZero Maritime decarbonization team, has ensured the VS-9 is designed and built to align seamlessly with commercial and tourism transport requirements. “Our partnership integrates New …