Revenues for RAK’s tourism sector rose 44% in 2014 and the total number of overnight stays by guests grew by 72% to reach 2.14m.The tourism sector is estimated to support 307,000 jobs across the UAE, or 5.4% of total employment, which is expected to rise by 5.4% in 2015 and 2.6% per annum until 2025. Developers hope to see the area grow substantially in the next few years as the mixed...
The Middle East Tourism
Displaying 259 - 264 of 474
With more limited hydrocarbons reserves compared to its UAE neighbours to the south, RAK has developed into an industrial hub thanks to its dynamic network of industrial free trade zones. Considerable natural resources feed the country’s thriving cement and ceramics industries while elsewhere the emirate is looking to leverage its varied landscapes in a bid to boost tourism revenues in line with general economic diversification targets.
Articles & Analysis | Investors hope new destinations will help grow the domestic tourism market in Saudi Arabia from The Report: Saudi Arabia 2015
Domestic tourism in Saudi Arabia has enjoyed something of a surge in recent years, with spending rising from SR59bn ($15.7bn) in 2010 to SR103bn ($27.5bn) in 2014 – representing compound annual growth of 15%. Yet, taken on an individual basis, Saudis continue to spend significantly less per domestic trip than they do when travelling abroad:...
Articles & Analysis | Saudi Arabia's tourism authorities look to new regulations to improve standards and build capacity from The Report: Saudi Arabia 2015
Despite playing host to a plethora of natural and cultural attractions, the Kingdom’s tourism sector remains relatively under-developed and is largely limited to the religious pilgrim market centred on Makkah and Medina. The legacy of this under-development is particularly felt in the regulation of the sector. The Kingdom’s regulatory body,...
Articles & Analysis | While expanding its hotel capacity, Saudi Arabia develops niche segments in partnership with the private sector from The Report: Saudi Arabia 2015
With millions of Muslims arriving every year to visit the Holy Cities of Makkah and Medina, Saudi Arabia’s tourism sector is characterised to a large degree by religious pilgrimage. However, while significant investments continue to be made to meet growing demand from this segment, the Kingdom’s tourism authorities are also hard at work...
Tourism is estimated to have directly contributed $12.7bn to the Saudi economy in 2013, equivalent to 1.7% of GDP, and this was forecast to rise by 5.2% to $13.3bn in 2014. Although religious tourism still dominates the industry, government efforts are under way to expand the sector’s offering, with opportunities available in various segments, including heritage and business tourism. Domestic...