ATM 2024 to check out comprehensive spectrum of travel and tourism – world-wide sector benefit to move $1 trillion by 2027
The 31 st edition of ATM will discover how travel and tourism are driving economic
advancement and sustainable progress across the Middle East and past
DUBAI, UNITED ARAB EMIRATES – Attendees from about the environment will explore opportunities spanning the total spectrum of vacation and tourism – like leisure, enterprise, luxury and meetings, incentives, conferences and exhibitions (MICE) – at the 31st edition of Arabian Vacation Marketplace (ATM), which will consider location at Dubai Planet Trade Centre (DWTC) in the UAE from Monday 6 to Thursday 9 Might 2024.
Income in the global vacation and tourism industry is projected to attain $854.7 billion this calendar year, in accordance to research done by Statista. The sector is predicted to expand at a compound once-a-year advancement fee (CAGR) of 4.42 for every cent in the course of the time period 2023-27, passing the trillion-dollar mark in just the following four many years.
Allied Industry Investigate valued the global organization vacation market at $689.7 billion in 2021, predicting that the segment would develop to $2.1 trillion by 2031. The world luxurious vacation sector, in the meantime, is on course to move $440 billion by the finish of this ten years, in accordance to investigate from Coherent Sector Insights. The MICE section also continues to make important contributions in GCC countries this kind of as the UAE, in which DWTC’s most modern Financial Affect Evaluation (EIA) Yearly Report believed that the venue’s complete financial output – throughout 63 big-scale situations – exceeded $3.5 billion in 2022.
In line with ATM 2024’s concept of ‘Transforming Journey Through Entrepreneurship’, attendees will think about how the segments of leisure, business enterprise, luxury and MICE are driving financial expansion and sustainable enhancement across locations, hospitality and aviation, producing new chances for entrepreneurs and buyers from throughout the Middle East and further than.
Danielle Curtis, Exhibition Director, Arabian Vacation Market, stated: “Holidaymakers symbolize a important target for the Middle East’s journey local community, but leisure is only a single component of a substantially even bigger photo. Business, luxury and MICE vacation are also producing sizeable contributions to economic development and sustainable growth, with Statista predicting a world-wide market place quantity of far more than $1 trillion by 2027.
“It is as a result no surprise that the travel and tourism sector is developing unprecedented options for business owners and investors, countless numbers of whom will showcase their innovations, exchange strategies and forge new partnerships at ATM 2024,” she added. The travel and tourism sector is on class to add $49.18 billion to the UAE economic climate alone in 2023, according to figures launched by the Planet Travel and Tourism Council (WTTC). This figure is predicted to get to $64.12 billion by 2033, accounting for an remarkable 10.2 per cent of the nation’s GDP.
As the Middle East’s journey and tourism field carries on to experienced, it is predicted to make new jobs and money for millions of men and women from throughout the globe. The UAE Federal government, for instance, estimates that the country’s travel and tourism marketplace will guidance 770,000 positions by 2027. At the exact same time, the sector is expected to make ever-growing revenues for regional economies – Gulf travellers spending close to 6.5 times additional than visitors from other elements of the entire world, in accordance to the UN Planet Tourism Group (WTO).
Sustainable growth will depict another essential focus at ATM 2024 as the demonstrate builds on the net-zero commitments outlined during its milestone 30 th edition. Dubai’s Division for Economic system and Tourism (DET), ATM’s Vacation spot Associate, will showcase its ongoing attempts to defend the ecosystem and protected a greener and far more sustainable foreseeable future for the emirate. Pioneering initiatives this sort of as Dubai Sustainable Tourism, Dubai Can and Dubai Carbon Calculator – coupled with the city’s hosting of COP28 later this calendar year – will supply the best backdrop for ATM attendees on the lookout to determine prospects linked to responsible tourism in the UAE and the broader Center East.
Thanks to the region’s business enterprise-helpful method to policymaking, tax-free of charge salaries and ongoing visa reforms, GCC international locations accounted for 5 of the top 10 world destinations where expatriates locate it easiest to settle, according to a report from InterNations. In Q1 2023, a Magnitt report disclosed that Saudi Arabia led the region in enterprise capital financial commitment for startups, when the UAE topped the checklist in conditions of selection of exits. As these types of, the forthcoming version of ATM will provide the great discussion board for speakers, panellists and viewers users to check out options for business owners and investors working in the Middle East’s travel and tourism place.
Held in conjunction with Dubai Environment Trade Centre, ATM 2024’s strategic associates involve the Office of Financial state and Tourism (DET), Vacation spot Partner Emirates, Official Airline Partner IHG Inns & Resorts, Official Resort Associate and Al Rais Journey, Official DMC Spouse.
Vicky is the co-founder of TravelDailyNews Media Community wherever she is the Editor-in Main. She is also accountable for the each day procedure and the financial policy. She holds a Bachelor’s diploma in Tourism Business Administration from the Technical University of Athens and a Grasp in Business Administration (MBA) from the University of Wales.
She has many years of both equally academic and industrial knowledge in the vacation sector. She has created/edited various content articles in a variety of tourism publications.
