Sunday, February 26, 2017

Bahrain tourism industry to reach $1bn by 2020

The tourism industry in Bahrain is growing rapidly and is expected to reach $1 billion by 2020, according to figures released ahead of Arabian Travel Market 2017, which takes place at the Dubai World Trade Centre this April.

Bahrain witnessed an 8.4 per cent increase in inbound traffic in the third quarter of 2016 and a peak of 1.4 million arrivals during the month of August. With the Bahrain Tourism and Exhibition Authority (BTEA) spearheading a robust marketing campaign, the kingdom expects to welcome 15.8 million annual visitors by 2018. This will represent an increase of 36.2 per cent on current figures and will place the country’s tourism industry on track to reach its $1 billion 2020 target.

Simon Press, senior exhibition director, ATM, said: “The Bahrain Tourism and Exhibition Authority has engaged with a number of public authorities and private sector organisations over recent months and the returns are beginning to be realised.

“The BTEA now operates seven official representation offices worldwide, with a focus on source markets in Europe and Asia, and will continue to work hand-in-hand with hotels, tour operators and cruise lines to achieve its objectives.”

This phenomenal growth will be driven primarily by the leisure sector, which should rise in terms of value by 4.3 per cent per annum to BD1.2 billion ($3 billion) in 2026. While business arrivals will generate BD 219.3 million ($560.7 million) per annum by 2026.
 
As activity continues to increase, GDP contributions from tourism will also rise, from the 10.6 per cent contribution witnessed in 2015 to a predicted 13 per cent contribution towards GDP in 2026.
 
The news comes as inbound investment into Bahrain’s tourism infrastructure reaches new heights. From funding totaling BD105.3 million ($269 million) in 2015 – representing 5.3 per cent of total investment that year – investment is expected to reach BD217.9 million ($557 million) in 2026, which will be 8.6 per cent of the national total.

The $1.1 billion Airport Modernisation Programme (AMP) at Bahrain International Airport will double capacity from 7 million to 14 million passengers per year, by Q2 2020.

STR Global estimates that there is currently, 12,641 rooms and a pipeline of 4,187 rooms, an increase of 33.1 per cent in hotel stock over the coming years.

Promoting its hotels, leisure attractions and investment opportunities, Bahrain will enjoy a strong presence at ATM 2017, with several exhibitors participating. These include the Kingdom of Bahrain Tourism Sector, Ministry of Culture, Sabre, Farhat International Tours & Travels WLL and the Gulf Hotel Bahrain. The country’s flagship luxury properties, such as Four Seasons Hotel Bahrain Bay and Sofitel Bahrain Zallaq Thalassa Sea & Spa, will also be represented by their respective operators.

To drive the expected demand, BTEA’s plans for 2017 include capitalising on the leisure market, particularly the heritage and cultural aspects, regenerating beaches, targeting cruise passengers, as well as the opening of Avenues Bahrain Mall.

Press added: “The main theme of this year’s ATM is experiential travel and Bahrain is a perfect example of what this sector offers, with investment set aside for the regeneration of the historic bazaar district, Manama Souq and similar projects at Bab Al Bahrain.”

ATM - considered by many industry professionals as a barometer for the Middle East and North Africa tourism sector –  witnessed a year-on-year visitor attendance increase of 9% to over 28,500 in 2016, with 2,785 exhibiting companies, signing business deals worth more than $ 2.5 billion over four days.

ATM 2017 will build on its success with the announcement of an additional hall as Reed Travel Exhibitions looks to add to its record-breaking achievements of 2016.

For more information on Arabian Travel Market 2017, please visit: www.arabiantravelmarket.wtm.com. - TradeArabia News Service



from Travel Tourism Hospitality


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