Saudi Arabia spending heavily on transport infrastructure to support tourism sector - GDP contribution set to reach US$14.9 billion this year
Top industry executives and officials will head to the annual Arabian Hotel Investment Conference 2012 (AHIC), which takes place in Dubai on 28-30 April at Madinat Jumeirah, to discuss investment opportunities in a region where governments are ploughing billions of dollars into tourism infrastructure.
Flush with petrodollars, with oil prices consistently above $120 a barrel, Saudi Arabia, the United Arab Emirates and Qatar have all embarked on aggressive hotel and transport development programmes as they seek to diversify their economies away from oil and boost revenues from the tourism sector.
The direct contribution of travel and tourism to Saudi Arabia's GDP is expected to reach US$14.9 billion, or 2.9% in 2012, up from US$10.4 billion in 2009, or 2.7%, at the peak of the financial crisis, according to the World Travel & Tourism Council.
"Specifically hotel revenues in Saudi Arabia are growing steadily despite the looming recession in Europe. There is ample liquidity and business in Saudi Arabia so we see Saudi Arabia as a key hotel investment destination," commented Amro Nahas, Executive Director - Head of Real Estate, Shuaa Capital Saudi Arabia.
The Kingdom is focusing its efforts on providing the necessary travel infrastructure to boost religious, business and domestic tourism and is spending more than $500 million on expanding its existing airports and is planning a new US$7 billion airport in Jeddah.
Speakers at this year's event focusing on Saudi Arabia include Moustafa Said, Senior Associate, Clyde & Co; Bani Haddad, Vice President, Middle East & Africa, Wyndham Hotel Group; Samir Baidas, Senior Vice President - International Lodging Development, Marriott International and Mohammed Arkobi, VP and Managing Director, Saudi Arabia, Fairmont Raffles Hotels International.
Held under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, President Dubai Civil Aviation Authority, Chairman Dubai Airports and Chairman and Chief Executive, Emirates Airline & Group, organiser MEED Events in partnership with Bench Events has put together a three-day programme designed to explore the outlook for hotel investment in the Middle East's changing landscape.
As well as focusing on the Middle East's investment landscape after the Arab Spring, AHIC will hold a session that looks at the issues facing Egypt.
There will also be a separate dedicated session exploring investment opportunities outside the Middle East.
For more information on the Arabian Hotel Investment Conference:
www.arabianconference.com
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To pre-register as media please follow the link: http://www.arabianconference.com/index.php/forms/media_registration
The confirmed list of speakers includes: Mark Wynne-Smith, Global CEO, Jones Lang LaSalle Hotels; Alex Kyriakidis, President & Managing Director MEA, Marriott International; Rudi Jagersbacher, President, Middle East & Africa, Hilton Worldwide; Jan Smits, CEO, Asia, Middle East & Africa, IHG; Bashar Al Natoor, Director, Corporates, Fitch Ratings; Iyad Duwaji, CEO, West Asia Capital; Fergal Harris, Head of Real Estate Middle East, Standard & Chartered; Olivier Ebner, Senior Manager at Project and Structured Finance, National Bank of Abu Dhabi; Alexis Waller, Partner Clyde & Co; Olivier Granet, Director of Development, ACCOR Middle East; Kurt Ritter, CEO & President, The Rezidor Hotel Group; Bassel S.Hamwi, Chief Executive Officer, Bank Audi Syria; Lo'ai B. Bataineh, DGM, Investment & Development, Head of Investment Management Group, Oman Arab Bank SAOC; Nilay Orzral, Director of Real Estate Operations, Aldar Properties PJSC; Sanjay Tanna, Director - Business Development and Investments, Abu Dhabi National Exhibitions Company.
About MEED Events
MEED's comprehensive portfolio of events has been developed over the last decade to cover the region's key business issues and sectors. From large-scale summits and conferences to unique one-to-one networking opportunities, MEED Events provide high-profile speakers, relevant and critical business content and the latest news from across the GCC.
About Bench Events
Bench Events is one of the founders and organisers of several leading conferences for the hotel investment industry including the International Hotel Investment Forum (IHIF), the Arabian Hotel Investment Conference (AHIC), Central Asia and Turkey Hotel Investment Conference (CATHIC), the Russia & CIS Hotel Investment Conference (RHIC) and the Africa Hotel Investment Forum (AHIF)
About the Arabian Hotel Investment Conference
AHIC attracts over 500 industry leaders annually from over 40 countries, including many of the most influential names within the Middle East's hotel investment community, as both speakers and attendees. Details of AHIC can be found on www.arabianconference.com
Platinum sponsors: The Carlson Rezidor Hotel Group, IHG, Jumeirah Group, Wyndham Worldwide.
Emerald sponsors: Corinthia Hotels, Hilton Worldwide, Jebel Ali International Hotels, Moroccan Agency for Tourism Development (SMIT) Starwood Hotels and Resorts Worldwide.
Gold sponsors: Accor, AECOM Design & Planning, Argentina National Institute of Tourism Promotion, Clyde & Co, Fairmont Raffles Hotels International, Fonatur, Golden Tulip Hotels, Suites & Resorts MENA, Horwath HTL, Hyatt International, IFA Hotel Investments, Jones Lang LaSalle Hotels, Marriott International, MENA Hotels and Resorts, Orient-Express Hotels, Premier Inn MEA, Ras Al Khaimah Tourism Investments and Development Authority, Rixos Hotels, STR Global, Turnkey Ventures, WATG.
Media contact
Jason Benham
Account Director
Shamal Marketing Communications
PO Box 502701
Office 106
Al Sufouh Tower
Dubai Media City
Dubai, United Arab Emirates
Tel: +9714 365 2711
Cell: +971 50 1897556
E-mail: jason@smc-pr.com
© Press Release 2012
