The Middle East travel market was worth $71.8 billion in 2014 – and the region’s travel industry doesn’t seem to be slowing down any time soon.
Kippreport attended a presentation by Amadeus and PhoCusWright at Arabian Travel Market on May 5 in Dubai, where they released their most recent research report, ‘The future of online travel in the Middle East’.
Here are a few points we thought you’d find interesting about where they think the regional travel industry will be by 2018…
1. The Middle East market will be worth an estimated $98bn.
2. The Middle East online market will be worth an estimated $35bn.
3. There will be a 36 per cent online penetration for the Middle East travel market.
4. Traditional airlines will have a revenue of $66bn.
5. Low-cost carriers (LCC) will have a revenue of $5.4bn.
6. Hotels in the Middle East will have an estimated revenue of $25.7bn.
“The Middle East is one of the fastest-growing travel markets in the world,” explains Ernesto Sanchez Beaumont, head of commercial strategy and business management for Amadeus MENA.
With Expo 2020 just around the corner, we can only imagine it’ll pick up even more in the next few years.
Want to learn more? Watch Jeff Strachan, senior analyst at PhoCusWright, explain the top takeaways from the research.