It could take as long as three years for tourism spend in the Middle East to recover levels seen in 2019 according to new research.
That is according to a recent YouGov survey, commissioned by Reed Exhibitions, the organiser of Arabian Travel Market.
The work is supported by forecast analysis carried out by Tourism Economics (TE).
According to research by TE and its parent company Oxford Economics, the vaccine rollout, pent up demand supported by high consumer savings, employment recovery and travel restrictions, will motivate the return to global economic growth of 5.6 per cent this year.
The total contribution of the travel and tourism industry in 2019 accounted for ten per cent of total GDP worldwide, highlighting its importance to the global economy.
“This is very encouraging,” said Danielle Curtis, exhibition director, Middle East, Arabian Travel Market, which will take place in-person at the Dubai World Trade Centre from May 16th-19th.
“In 2020, spending on international leisure travel was only 20 per cent of the amount spent a year earlier.
“However, this year, spending compared with 2019, will recover to around half.
“It will increase to 75 per cent in 2022 and 95 per cent in 2023, until 2024, when spending in this segment…