Russian vacationers travelling to the GCC are anticipated to generate an estimated US$1.22 billion in journey and tourism income by 2023, a rise of 19 per cent compared with figures from 2018.
That’s in line with information revealed forward of Arabian Journey Market 2020.
The most recent Colliers analysis commissioned by Reed Journey Exhibitions, the organiser of Arabian Journey Market, predicts the UAE will witness the best progress, with complete
tourism spend by Russian guests projected to achieve US$1.153 billion by 2023 and tourism spend per journey growing 5 per cent from US$1,600 to US$1,750.
Danielle Curtis, exhibition director, Center East, Arabian Journey Market, mentioned: “With the oil value restoration, stabling of the monetary markets and elevated disposable incomes, Russia, as soon as once more, represents a big progress space for journey and tourism income throughout the GCC as Russian nationals flip to the area for its year-round sunshine, world-class resorts and resorts and fast-paced leisure services and facilities.”
Constructing on this, Saudi Arabia is anticipated to witness the second largest enhance carefully adopted by Oman, with complete Russian tourism spend estimated to achieve US$28,659,600 and US$21,788,000 respectively, by 2023.
Following current reforms within the kingdom, the introduction of tourism e-visas and the on-going improvement of ‘giga initiatives’, together with the Pink Sea Undertaking and Amaala, Saudi Arabia is trying to capitalise on Russia’s rising tourism spend.
“Saudi Arabia’s giga initiatives, particularly, are aimed to cater to the posh section of the tourism market concentrating on high-net-worth people and Russia is at the moment ranked fourth on the earth by way of the variety of billionaires residing within the nation, with 303 Russians representing a complete billionaire wealth of USD$355 billion,” Curtis mentioned.
The analysis research by Colliers Worldwide discovered that whereas the UAE will account for almost all of Russian arrivals within the GCC, Oman will witness the second highest comparative progress at 4 per cent, welcoming 13,000 Russian nationals by 2023.
Saudi Arabia will carefully comply with with 17,100 Russian vacationers anticipated to go to the dominion by 2023, in contrast with 15,200 in 2018, a comparative progress of three.2 per cent.
Arabian Journey Market, thought of by business professionals as a barometer for the Center East and north Africa tourism sector, welcomed virtually 40,000 individuals to its 2019 occasion with illustration from 150 nations.
With over 100 exhibitors making their debut, the 2019 occasion showcased the biggest ever exhibition from Asia.
Adopting ‘Occasions for Tourism Progress’ because the official present theme, ATM 2020 will construct on the success of this yr’s version with a number of seminar periods discussing the influence occasions have on tourism progress within the area whereas inspiring the journey and hospitality business in regards to the subsequent technology of occasions.
The occasion takes place at Dubai World Commerce Centre from April 19th-22nd subsequent yr.
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