The impact from the conronavirus may be shaking down the travel and conferences industry for now. But the outlook over the next five years looks splendid.
The global meetings, incentives, conferences and exhibition (MICE) industry is expected to reach over $1.4 billion in the next five years, with the Middle East region, particularly the GCC, at the forefront according to ITL World Company.
Saudi Arabia is the biggest source market for outbound travel in the Middle East, followed by the UAE, MiceMinds, part of the travel management company ITL World, said.
Saudi Arabia and UAE’s top rankings have been boosted by the growth of regional airlines as well as the “game-changing mindset” of travel management companies that create incentive travel experiences, personalised and designed to lead positive business results, MiceMinds said.
(Reporting by Gerard Aoun; editing by Seban Scaria)
#MICE #GCC #SAUDI #UAE #CORONAVIRUS #TRAVEL #AVIATION
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020