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$65bn investment on infrastructure to boost tourism

The $65bn commitment to infrastructure development has served as a major boost for long-term investment by leading hospitality providers, say market analysts.

Qatar is entering a continued decade-long development phase and growth, with about more than 85,000 hotel rooms likely to strengthen current inventory of the emirate by 2022.

Tourist arrivals in Qatar are likely to grow at a CAGR (Compound Annual Growth Revenue) of 15.9 percent in the period 2012 to 2022. This, coupled with government’s $65bn commitment to infrastructure development, has served as a major boost for long-term investment by leading hospitality providers, said Mark Walsh, Portfolio Director, Reed Travel exhibitions.

Last year, the capital added to its upscale inventory, with the opening of St. Regis Doha, new InterContinental Doha, The City and Qatar’s first Hilton hotel. Another Four Seasons hotel is now under development, and budget brands are making their appearance with popular Premier Inn chain debuting on the city outskirts later in the year.

Qatar has made a very strong presence in this year’s Arabian Travel Market (ATM) show, with major organizations such as Qatar Tourism Authority, Katara Hospitality and Qatar Airways, all participating.

Katara Hospitality has more than 4000 hotel rooms that are already operational or under construction, and with the introduction of more affordable properties, Qatar is committed to development of all-round tourism in-line with National Vision 2030 for a sustainable economy, he added.

The hotel room capacity in Qatar is likely to grow at a CAGR of 9.1 percent over the next five years, touching $1.1bn by 2016 from $0.6bn in 2011.

The Qatar national carrier, Qatar Airways, will launch six new routes during the first half of 2013, increasing its current net worth to 123 major destinations. Further, work has begun on the $14mn Doha metro network.

The world-class infrastructure projects will lead to new economic opportunity, with tourist arrivals bound to grow to 3.7mn by 2022. Qatar will see a transition from predominantly business-led visitor profile to a stronger business-leisure mix, with Football World Cup, the milestone market for tourism and hospitality industry, said Walsh.

Posted on 12/2/2013

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