MENA hospitality market to surpass $487 billion by 2032
The Middle East and North Africa’s hospitality is set to grow to more by than $487 billion (£365 billion) by 2032, according to data from the World Travel and Tourism Council, Gulf Business reported on October 22nd.
The council predicts tourism will contribute $367 billion (£275 billion) to the Middle East’s economy, up by almost 25% from 2019 pre-covid levels. International visitor spending is projected to hit almost $194 billion and national spending is predicted to reach $113 billion (£85 billion).
Meanwhile, the Middle East region’s hotel construction pipeline hit 650 projects, an all-time high, totalling over 161,500 rooms as of the second quarter of 2025.
“Saudi Arabia is targeting 150 million tourist arrivals annually by 2030, while Egypt aims for 30 million international visitors by 2028,” said head of hotels & hospitality MEA and Managing Director, Global Hotel Desk at Jones Lang Lasalle, Amr El Nady.
Saudi Arabia’s Expo 2030 and the FIFA World Cup 2034 are expected to increase demand for hotels in the kingdom.
In the UAE, Dubai’s hospitality market is expected to have 10,000 new rooms by 2027. Elsewhere, Oman tourism is projected to contribute 5 per cent to GDP by 2030 and 10 per cent by the following decade, overshadowing transport and logistics to become the nation’s second-largest industry, with hydrocarbons being the most significant.
The news comes after leading Saudi Asset manager, Riyad Capital, announced a collaboration with the Saudi Railway Company to launch a $1.6 billion (£1.2 billion) real estate fund in Makkah that intends to develop a mixed-use project.
The project is set to be developed on a large plot of land situated in the Al Rusifah district and is expected to feature hotels, commercial and residential areas.
Meanwhile, Morocco confirmed its plans to spend $10 billion (£7.5 billion) to expand its rail network in the run up to the FIFA World Cup in 2030.
The high-speed line, which would cost roughly 53 billion dirhams (£10.6 billion), will start its route in Kenitra on the Atlantic and run 430 kilometres south to Marrakesh.
Gulf Business, Maghrebi.org
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