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Saudi travel and tourism industry set to reach $14.9 trillion in 2012

19/9/12  www.saudigazette.com.sa

                                                                                                            The event is set to be the ideal business platform.

JEDDAH — Saudi Arabia’s travel and tourism industry offers tremendous growth opportunities on the back of its exponential market potential.

Ahead of the inaugural “The Hotel Show Saudi Arabia” slated to be held in Jeddah on Nov.17-19, 2012, Tim Wilson, Event Manager, dmg :: events, co-organizer of the show, said “The Kingdom of Saudi Arabia has emerged as one of the most captivating markets for foreign direct investment in the food, hotel and hospitality industries. With the Kingdom’s travel and tourism industry set to reach $14.9 trillion in 2012, the potential for growth is huge. We at dmg :: events have presented successful Hotel Shows over the years in Dubai. Now we aim to continue to expand by showcasing of the broadest range of products, services and technologies for the hospitality sector in Saudi Arabia. We are trying to get the maximum diversity, range and competitiveness of exhibitors to make it a record first year for The Hotel Show Saudi Arabia.”

Saudi Arabia is expected to welcome 15.8 million tourists by 2014, with some 381,000 new hotel rooms and a 63 percent increase in room stock against 2010 inventories forecast for completion by 2015. So, the event will go a long way in further emphasizing the unmatched potential in store in the Kingdom, added Elie Rizk, CEO of MICE Arabia Group.

Business Monitor International’s latest Saudi Arabia Tourism Report forecast that tourist arrivals are forecast to increase by 8 percent year-on-year (y-o-y) to 14.87mn in 2012. The number of tourist arrivals will grow by an average of 6 percent y-o-y through to the end of 2016.

Moreover, the report said the Kingdom’s hospitality sector looks set to grow in tandem with tourist arrivals.
BMI forecast that there will be about 424,000 hotel rooms in Saudi Arabia by 2016, up from a projected 317,000 in 2012.

The event is set to be the ideal business platform amid large-scale infrastructure developments in Saudi Arabia, boom in religious tourism and flourishing business travelers & MICE sector, catapulting the Kingdom onto the international hospitality map.

The three-day show, to be held at the Jeddah Centre for Forums & Events, will bring together leading regional and international manufacturers and suppliers for the hospitality, catering, food & beverage as well as related industries, covering over 8,500 square meters of space, with 5,000-plus invited buyers, live gourmet food demonstrations, seminars and a dedicated hotel summit.

More than 100 companies from 24 countries representing various supply chains of the hospitality sector across the Middle East and beyond will be participating at the inaugural show. More than 10 country pavilions will be represented at the show, including Italy, Greece, France and Malaysia.

Five key segments are represented at the show’s debut, including interiors & design, operating equipment & supplies, technology, outdoor & resort experience, and food & beverage.

“Keeping pace with the demands of the country’s burgeoning hospitality market, The Hotel Show Saudi Arabia has focused its offering to provide an unmatched sourcing platform for buyers and sellers of hospitality supplies and services. The event is “must-attend” trade show for regional and global companies wanting to establish a presence or grow their existing businesses in this lucrative market. We have received tremendous response from participants and we are confident of its success,” Rizk noted.

Held under the patronage of Sultan Bin Salman Bin Abdul Aziz, Chairman of Saudi Commission for Tourism and Antiquities, The Hotel Show Saudi Arabia is organized by MICE Arabia Group and co-organized by dmg :: events. — SG

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