24.6 million European travellers expected to visit GCC by 2020
Increase in mid-market hotels, pricing, extra flights and comparative fares seem to be the driving factor, according to a report by Colliers International
Approximately 24.6 million European travellers are expected to visit the GCC by 2020, according to a report by Colliers International published ahead of Arabian Travel Market 2018. Its scheduled to take place at Dubai World Trade Centre from April 22-25.
Increase in mid-market hotels, pricing, extra flights and comparative fares seem to be the driving factor, according to the report.
The expected increase in travellers is a 17% uptick compared to the figures registered from 2015-2017. The UAE is expected to receive 14.5 million, Saudi Arabia 5.4 million, Oman 2.21 million, Bahrain 1.72 million and Kuwait 738,000, by 2020.
Commenting on the projected increase, ATM exhibition director Simon Press said: “While European tourists have previously travelled to the GCC for its luxury resorts, the growing numbers of millennial travellers, middle-class tourists and corporate travellers on a budget, are slowly changing traditional market trends, as is the growth in affordable, mid-market hotels combined with an increase in low-cost flights.”
To meet the growing demand, GCC hotel developers, the report added, have turned their attention to quality mid-market properties such as four-star properties Aloft, Centro and Studio M. The growth is expected to continue with a 19.1% compound annual growth rate (CAGR) forecast in four-star development between 2018 and 2020 the report stated.
In terms of flights, Emirates has added a new route to Stansted airport in the UK and flydubai is expanding its Eastern and Central European network to 24 destinations including Belgrade, Bratislava, Bucharest, Prague, Skopje, Sarajevo and Sofia.