International travel is expected to become more important as household wealth continues to rise.
As a result of the movement in revenue and costs, profit conversion at hotels in the Middle East & Africa was recorded at a punchy 43 percent of total revenue.
Haitham Mattar, CEO of RAKTDA said: “We’ve had a strong start to the year which is important as we look towards our goal of one million visitors by the end of 2018.”
According to Arabian Travel Market’s (ATM) research partner, Colliers International, arrivals from Europe to the GCC will increase 17 percent over the period 2018 to 2020. Data shows that 24.6 million EU residents will travel to the GCC between now and 2020, an additional four million travellers when compared to...