Jan 08 2007 |
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Mid-East leisure: A $10b business
The amusement, leisure and entertainment industry in the Middle East is estimated to be worth more than ten billion dollars, according to regional exhibitions organiser International Expo Consultants. This figure strips out land and construction costs, it added.IEC, the exhibitions arm of Dubai-based group Falak Holding , said that the construction boom across the region was one of the main drivers for this industry. And the UAE has emerged as the regional hub for the recreation industry, IEC said. As of June 2005, the UAE topped the list of GCC countries in real estate projects under construction. Many of these projects are mixed-use developments and bank heavily on entertainment and leisure elements. No wonder then, that experts forecast a 27 percent growth every year over the next few years for this industry. "The Pan-Arab amusement and entertainment market is developing at an unprecedented pace with mega projects like the three-billion dollar Attractions and Experience World part of Dubailand ; the Durrat al-Arus in Saudi Arabia the third-largest recreational city in the world; Iceberg Towers in Bahrain, besides other recreational projects in Oman, Qatar, Jordan, Kuwait and Lebanon," said Abdul Rehman Falaknaz, president, IEC, as he announced details of an upcoming industry exhibition, the Dubai Entertainment, Amusement and Leisure Show.
The show, the region's largest trade event for the industry, will take place on April 22-24 at the Dubai International Exhibition Centre.
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