(TVLW) – The success of the tourism market in the Middle East has been illustrated by a new study, which reveals that 13.33 trillion dirhams (£1.8 trillion) has been invested in the industry to date.
According to research by Fast Future and Global Futures Foresight, the funds have been focused on building new hotels and leisure projects, developing aviation, supporting infrastructure and promoting tourism.
Investment in the travel markets of Syria, Oman, Dubai, Abu Dhabi and others shows no signs of stopping, with plans in place to enable the construction of 900 new hotels in the Middle East with £288bn of financing.
A project could also be launched which would see Dubai being home to the world’s largest airport, which would accommodate 120m passengers a year, Khaleej Times reports.
Lawrence Hunt, chief executive officer of Silverjet, said that the Middle East is an increasingly important region for luxury travellers in particular.
‘This report highlights how rapidly the travel and tourism market in the region is developing and emphasises the importance of the high-end segment,’ he said.