Phocuswright and WiT return to the Middle East next month as we continue to explore the opportunities the region presents.
The Middle East is a region on the rise, buoyed by the investments being made in Saudi Arabia as it strives to meet its target of 150 million tourists by 2030.
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Phocuswright’s annual Middle East Travel Market Report, published in 2024, forecasts a 40% growth in the region’s travel sector with bookings expected to increase from $91 billion in 2023 to more than $127 billion by 2027, driven by significant investments in travel infrastructure and increasing consumer demand. The United Arab Emirates’ travel market remains a dominant force in the region recording a staggering $44.5 billion in gross bookings in 2023, a 12% increase from the previous year.
A further study by India-based travel research and merger and acquisitions advisory company VIDEC Consultants reports the UAE total air market as valued at $3.9 billion from the demand-side in 2023 and is projected to reach $5.4 billion by 2028 — making UAE the second biggest air market in the region, only behind Saudi Arabia ($6.3 billion in 2023).
The online air market was estimated at $1.3 billion in 2023, which is 34% of the total air market of $3.9 billion. The airline.com/app has a 55% share while the online travel agency (OTA) segment has 45% share of the online air market.
“It is exciting to see such growth and promise in the region,” said Pete Comeau, managing director of Phocuswright. “This is why we are joining forces with our sister brand, WiT, to hold our second event in Dubai on April 25.
“Last year, we heard how the Middle East was setting the pace in tech innovation, driven by a young, tech-savvy consumer base and it will be revealing to see how much has changed and developed in the past 12 months. The rate of change is accelerating and no more so than in the Middle East which is moving faster than most markets.”
“The Middle East is such an interesting, fragmented, diverse market, just like Asia, and it’s fascinating to see the different trends emerging from major markets such as Saudi and UAE as well as Turkey and Egypt,” said Yeoh Siew Hoon, founder of WiT.
“We’ve cast our net wider this year to showcase the diversity of voices that make up the Middle East market. At the same time, there’s no discounting the influence that will be brought to bear on the region by the global brands that are investing and expanding in these growth markets.”
The event returns to the Grand Plaza Movenpick Media City on April 25 with Accor as the host partner for the second year running.
“The Middle East is one of the most exciting places to be right now when it comes to travel and hospitality,” said Kerry Healy, chief commercial officer, Middle East, Africa and Asia Pacific for the Premium Midscale and Economy brands of Accor.
“Digital innovation is transforming the way people explore, book and experience destinations. At Accor, we’re at the forefront of this evolution, leveraging our extensive portfolio of brands at over 280 properties across the Middle East. Through innovative content creation, an omni-channel strategy and a consumer-centric approach, we are redefining how travelers connect with our brands.
“By integrating technology and data-driven insights, we elevate consumer engagement, strengthen brand loyalty and create seamless, meaningful experiences at every touchpoint. In 2024, we accelerated our transformation, shifting from a global hospitality model to a multi-local strategy, tailoring our offerings to each destination with culturally relevant food, entertainment and design. This localization, combined with cutting-edge digital tools like our ALL App, enables seamless interactions where guests can book rooms, check-in and earn and redeem points effortlessly.
“Partnering with WiT Phocuswright Middle East allows us to be part of the conversation shaping the future, bringing together the best minds in tech, travel and hospitality to explore what’s next for this dynamic region to ensure we stay ahead of evolving consumer expectations.”