With the Gulf Cooperation Council countries enroute to increasing their hospitality capacity multi-fold, sustainable financing of tourism industry will be a key subject that will be discussed during a dedicated session by ITIC at the upcoming Arabian Travel Market in Dubai next month.

One of the key issues facing sustainable development of tourism is access to finance and investment in the domain and this is the subject would be discussed threadbare at a key session during the Arabian Travel Market that opens in Dubai on May 1.

According to a press statement, industry experts will gather in the UAE to discuss sustainable decision-making and financing during the International Tourism & Investment Conference (ITIC) Middle East Tourism Investment Session at ATM, which will take place at Dubai World Trade Centre (DWTC) from May 1-4.

The statement adds that Saudi Arabia is leading the GCC’s tourism development activities with a pipeline of 100,071 hotel rooms, according to data released by hospitality industry tracking firm STR. Dubai is the region’s second most active market with 27,095 rooms under contract, followed by Qatar at 17,145, Oman at 10,292, Bahrain at 3,452 and Kuwait with 1,369 rooms. In total, there are 159,424 pipeline rooms under contract in the Gulf at present.

Related opportunities and challenges will be placed under the microscope throughout ATM 2023, thanks to a range of panel discussions and events related to industry financing. In addition to the ITIC panels, this year’s show will feature sessions highlighting industry-critical issues such as travel tech investment, the contemporary geopolitical landscape, urban regeneration, future markets, space tourism and more.

“With nearly 160,000 hotel rooms under development across the GCC, this region is undoubtedly a global hotspot for industry investment right now. Thanks to the participation of ITIC and a host of other finance-related sessions, ATM 2023 represents the ideal forum for travel, tourism and hospitality professionals from around the world to explore the latest investment opportunities and novel financing models with some of the biggest names in our sector,” says Danielle Curtis, Exhibition Director ME, Arabian Travel Market.

Taking place on day three of ATM 2023, the ITIC Tourism Investment Session: Making Sustainable Decisions will feature insights from an array of industry experts. The sessions will begin with a tourism economic outlook for 2023 from Gerald Lawless, Director of ITIC Ltd, Invest Tourism Ltd and Ambassador for the World Travel & Tourism Council (WTTC).

The statement adds that ITIC’s opening session will be followed by a panel discussion on the increasing correlation between sustainability and investments in travel and tourism projects, moderated by Sameer Hashmi, Middle East Business Correspondent at BBC News. Speakers will include Egyptian Minister of Tourism and Antiquities Ahmed Issa, Jamaican Minister of Tourism Edmund Bartlett, CEO of Ras Al Khaimah Tourism Development Authority Raki Phillips and Vice President, Operations, Kingdom of Saudi Arabia of IHG Hotels & Resorts Maher Abou Nasr.

The 30th edition of the show will also feature a session which will see seven entrepreneurs pitch their innovative solutions in front of a panel of independent industry experts at ATM 2023’s brand-new Sustainability Hub, says the statement.