The hospitality industry in the GCC region rocketing. Market observers believe that the hotel and luxury industry will record a significant CAGR (Compound Annual Growth Rate) within the forthcoming years. GC region is thronged with some of the best hotel and luxury brands and they are investing heavily to earn their foothold in this emerging market. The growth of the hotel industry in this region is backed by the robust development of ecotourism. Ecotourism has been a major attraction for millions of tourists. GCC region is attracting several backpackers who are eager to experience some of the best ecotourism facilities present in this region. Hotels present in Qatar, UAE region to usher maximum international tourists as these countries are expected to emerge as one of the best ecotourism destinations in this region in the coming few years.
Governments present in the region are shelling out loads of funds in developing infrastructure which can aid the staggering growth of ecotourism in this region. Last year the region witnessed a slow growth as there was a steep drop in oil prices. But the expansion of the hotel and luxury industry continued amidst of the rough economic climate. Some of the oil giants diverted their investment towards the booming hotel industry as this sector is soaring and it has promising future. The governments of this region are not only building a tourism friendly skeleton, they have rolled out several measures to woo investors. A slew of promotional events was organised in the last few years to project the potential of the GCC region in the international tourism arena. Though ecotourism is budding in this region but the well-planned infrastructure and proper flow of investment are acting as a catalyst for its growth. GCC region is safer than any other ecotourism destinations, which is why travellers are huddling in this region. Hoteliers are getting complete support from the governments of the region. Emerging tourism arena of this region is also opening a new window of opportunity in front of the hotel industry. Several hotel chains already established their base in this region to pocket maximum benefits of the tourism boom.