Tag Archives: transforming travel through entrepreneurship

Revenue in the global travel and tourism market is projected to reach $854.7 billion this year, according to research conducted by Statista. The sector is expected to grow at a compound annual growth rate (CAGR) of 4.42 per cent during the period 2023-27, passing the trillion-dollar mark within the next four years. Attendees from around the world will explore opportunities spanning the full spectrum of travel and tourism – including leisure, business, luxury and meetings, incentives, conferences and exhibitions (MICE) – at the 31st edition of Arabian Travel Market (ATM), which will take place at Dubai World Trade Centre (DWTC) in the UAE from Monday 6 to Thursday 9 May 2024. Allied Market Research valued the global business travel market at $689.7 billion in 2021, predicting that the segment would grow to $2.1 trillion by 2031. The global luxury travel market, meanwhile, is on course to pass $440 billion by the end of this decade, according to research from Coherent Market Insights. The MICE segment also continues to make valuable contributions in GCC countries such as the UAE, where DWTC’s most recent Economic Impact Assessment (EIA) Annual Report estimated that the venue’s total economic output – across 63 large-scale events – exceeded $3.5 billion in 2022. In line with ATM 2024’s theme of ‘Transforming Travel Through Entrepreneurship’, attendees will consider how the segments of leisure, business, luxury and MICE are driving economic growth and sustainable development across destinations, hospitality and aviation, creating fresh opportunities for entrepreneurs and investors from across the Middle East and beyond. Danielle Curtis, Exhibition Director, Arabian Travel Market, said: “Holidaymakers represent a crucial focus for the Middle East’s travel community, but leisure is only one component …

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