Russian vacationers travelling to the GCC are anticipated to generate an estimated US$1.22 billion in journey and tourism income by 2023, a rise of 19 per cent in comparison with figures from 2018.
That’s in keeping with information revealed forward of Arabian Journey Market 2020.
The newest Colliers analysis commissioned by Reed Journey Exhibitions, the organiser of Arabian Journey Market, predicts the UAE will witness the very best development, with complete
tourism spend by Russian guests projected to achieve US$1.153 billion by 2023 and tourism spend per journey growing 5 per cent from US$1,600 to US$1,750.
Danielle Curtis, exhibition director, Center East, Arabian Journey Market, mentioned: “With the oil worth restoration, stabling of the monetary markets and elevated disposable incomes, Russia, as soon as once more, represents a major development space for journey and tourism income throughout the GCC as Russian nationals flip to the area for its year-round sunshine, world-class accommodations and resorts and fast-paced leisure services and facilities.”
Constructing on this, Saudi Arabia is anticipated to witness the second largest improve intently adopted by Oman, with complete Russian tourism spend estimated to achieve US$28,659,600 and US$21,788,000 respectively, by 2023.
Following current reforms within the kingdom, the introduction of tourism e-visas and the on-going improvement of ‘giga initiatives’, together with the Purple Sea Mission and Amaala, Saudi Arabia is trying to capitalise on Russia’s rising tourism spend.
“Saudi Arabia’s giga initiatives, specifically, are aimed to cater to the posh section of the tourism market concentrating on high-net-worth people and Russia is at present ranked fourth on the planet when it comes to the variety of billionaires residing within the nation, with 303 Russians representing a complete billionaire wealth of USD$355 billion,” Curtis mentioned.
The analysis examine by Colliers Worldwide discovered that whereas the UAE will account for almost all of Russian arrivals within the GCC, Oman will witness the second highest comparative development at 4 per cent, welcoming 13,000 Russian nationals by 2023.
Saudi Arabia will intently observe with 17,100 Russian vacationers anticipated to go to the dominion by 2023, in contrast with 15,200 in 2018, a comparative development of three.2 per cent.
Arabian Journey Market, thought-about by business professionals as a barometer for the Center East and north Africa tourism sector, welcomed virtually 40,000 folks to its 2019 occasion with illustration from 150 nations.
With over 100 exhibitors making their debut, the 2019 occasion showcased the biggest ever exhibition from Asia.
Adopting ‘Occasions for Tourism Development’ because the official present theme, ATM 2020 will construct on the success of this 12 months’s version with a bunch of seminar periods discussing the impression occasions have on tourism development within the area whereas inspiring the journey and hospitality business in regards to the subsequent technology of occasions.
The occasion takes place at Dubai World Commerce Centre from April 19th-22nd subsequent 12 months.