UAE to lead GCC tourism growth
Dubai and Abu Dhabi will continue to lead the growth in the tourism sector across the Gulf Cooperation Council (GCC) countries, aided by possible ongoing political uncertainty in the region, says a new report.
“In the GCC, prospects look more solid. We believe Dubai and Abu Dhabi will continue to lead the growth in the tourism sector, aided by possible ongoing political uncertainty elsewhere in the region. Bahrain is likely to be an outlier in this respect,” Citi Investment Research and Analysis said.
The recovery of Dubai’s tourism industry is gathering pace, aided by the unrest elsewhere in the Middle East. However, it is worth noting that the tourism industry started exhibiting signs of recovery well before the unrest, the report said.
Citi, however, believes outlook for tourism in the Middle East looks mixed. “Egypt will continue to experience at least moderate political instability in the run-up to parliamentary and presidential elections later in the year. This will impact tourism figures for next season, which begins in September/October,” it said.
Jordan and Lebanon face great political uncertainties in the coming months that could negatively impact tourism prospects in the medium term, the report said.
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