Emirate to become global prototype for future resort development
DUBAI: Dubai could soon offer a template for success for other vacation ownership destinations, according to David Clifton, Managing Director, Europe, Middle East & Africa, Interval International, talking on the opening day of the fourth annual Vacation Ownership Investment Conference - VOIC 2008, taking place this week at Arabian Court, One&Only Royal Mirage, Dubai, UAE.
"We chose Dubai as the host city for VOIC 2008 for a number of good reasons. Dubai is destined to be one of three super cities for vacation ownership in the world. Dubai is rapidly becoming a city like no other; with key strategic initiatives set to continue to create a tourism destination that is a global prototype for other cities to follow," Clifton said in his opening speech at the industry conference.
Over 15 million annual tourists are expected by 2015 in Dubai with 20% expected to stay in villas or apartments rather than hotels.
Clifton cited developments such as Dubailand and Bawadi as being instrumental in the future success of vacation ownership in the emirate.
"Dubai will become the tourism and vacation ownership capital of the world in the years to come, as the numerous incredible projects, such as Dubailand, Bawadi and those by Emaar and Nakheel, continue to unfold before our eyes," he said.
Clifton also said that the emirate's carefully crafted tourism promotion has helped to create a brand easily recognisable across the globe.
"Dubai's goal is to be the number one tourism destination in the world. Tens of million of tourists from all over the world will come here for a variety of holiday and leisure experiences," Clifton said.
He also remarked that the emirate's vacation ownership market could even oust Florida in the USA from its number one position as the global leader in timeshare sales.
"People want to come here and experience what Dubai has to offer. Surpassing established tourism destinations like Florida is a mammoth task; but if any city can do it Dubai can," Clifton remarked.
Several other regional destinations have been tipped for vacation ownership growth at the conference.
"Egypt and Lebanon are well seasoned vacation ownership destinations. Saudi Arabia, Abu Dhabi, Bahrain, Qatar and Jordan are the next destinations to see growth in the vacation ownership industry, and we are starting to see that happen today," said Clifton.
Talking of the future growth expected from Egypt, Sherif Khalil, Regional Manager, Middle East & North Africa, Interval International, said: "Egypt continues to see increased demand. The country has timeshare regulations in place, positive government backing, and offers low investment costs, which is attracting international players like Emaar and Damac," he added.
Egypt's Red Sea coastal resorts already have a number of Interval International affiliated resorts.
According to a recent Global Futures & Foresight (GFF) survey, 170 million tourists will visit the region by 2020. Investment in the next 12 years is expected to reach US$3.6 trillion, with 900 new hotels, offering 750,000 rooms, set to come online by 2020. GFF also reported that airport capacity will see an additional 320 million passengers by 2012.
VOIC 2008 will provide two days of detailed and practical insights into the current status of the vacation ownership industry in the region, as well as tracking future trends and demand.
VOIC 2008 is supported by Interval International, a leading provider of exchange, travel, and leisure services to resort developers and vacationers worldwide, and is being held at the Arabian Court, One&Only Royal Mirage, Dubai, United Arab Emirates.
Details of VOIC can be found on www.vacationownershipinvestment.com
Event Patron: Arabian Falcon
Platinum sponsors: Dubailand, Dubai Vacation Club, Emerald Vacation Group, Preferred Residences, Swarovski
Gold sponsor: Generator, Fulbright & Jaworski LLP
Silver Sponsor: iBAHN
Lunch sponsor: Free Bird
Endorsers: GE Money, Marriott Vacation Club International, PricewaterhouseCoopers, WATG, World Travel & Tourism Council
Media sponsors: Hotels, Perspective International, and Vacation Industry Review
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About Interval International
Interval International is a leading provider of exchange, travel, and leisure services to resort developers and vacationers worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 30 years. Today, Interval has a network of more than 2,300 resorts in over 75 countries and offers its clients and nearly 2 million member families high-quality products and programs through its 28 offices in 17 countries. Interval is part of IAC, which owns and operates more than 60 diversified brands in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, HSN, LendingTree, Match.com, and Ticketmaster.
For more information visit www.vacationownershipinvestment.com
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© Press Release 2008
