According to the IATA, the Middle East suffered the largest loss in passenger traffic, with a drop of 71.5 percent in RPKs versus 2019.
UNCTAD and UNWTO’s report said that international tourism and its linked sectors have suffered an estimated loss of USD 2.4 trillion in 2020.
The UAE benefited from a domestic-demand led recovery, in addition to a peak in international tourist arrivals late 2020.
This entrepreneurialism was matched by 1 in 5 Saudi nationals saying that they would consider a career in the restaurant sector.
The survey was conducted among residents and citizens of the United Arab Emirates and Saudi Arabia in order to understand their sentiment towards travel during the COVID-19 pandemic.
Millennials with the highest spending power are looking for convenient and personalized ways to consume, and consume more.
The market is driven by the rising internet penetration and inclination towards IoT which are encouraging the hospitality segment to offer smart solutions.
It is still unknown how severe the crisis will be on foodservice chains, but soft drinks industry is losing massive amounts of revenue.
The region’s prospects for a bounce-back performance in 2020 were all but dashed by the advent and spread of the coronavirus, which is laying waste on the global hospitality industry.