• US$2 billion cultural and tourism investment in Kuwait

    Ramesh Tiwari
    April 1, 2015
    US$2 billion cultural and tourism investment in Kuwait

    Kuwait: Kuwait’s goal of welcoming one million tourists will be their focus at Arabian Travel Market (ATM) 2015 as the Government’s current five-year plan for travel and tourism sector development reaches a climax for all sectors of the industry.

    “World Travel and Tourism Council predictions put tourist arrivals at 440,000 by 2024 – up from 270,000 in 2014 – and the government has ploughed US$13 billion into infrastructure development, which is accelerating opportunities for Kuwait’s tourism sector as a whole,” said Nadege Noblet, Exhibition Manager for Arabian Travel Market, which takes place at the Dubai International Convention & Exhibition Centre, on 4-7 May 2015.

    According to the Aranca Q3 2014 MENA Tourism & Hospitality Report, Kuwait’s tourism sector is undergoing a sea change with a number of new projects in the pipeline.

    These include a new passenger terminal at Kuwait International Airport, which is being spearheaded by the Kuwait Directorate General of Civil Aviation. Scheduled for completion in 2016, the US$4.8 billion contract will increase capacity from six million in 2013 to 13 million by 2016, and up to 25 million per annum by 2025, according to the Centre for Aviation (CAPA).

    In January this year, local carrier Jazeera Airways reported a 22% year-on-year increase in passenger movements for the period, following consecutive increases in both November and December 2014. In particular, the airline registered a 32% increase on its Istanbul, Beirut and Amman routes and 20% growth on its GCC routes.

    A new 160 kilometre-long metro system is also under construction along with the planned Kuwait National Rail Road System – a 511 kilometre-long integrated rail network that will greatly enhance domestic and regional travel opportunities.

    Kuwaiti companies exhibiting at this year’s ATM include the Ministry of Commerce and Industry Tourism Sector, Kuwait Airways, Holidays Arabia, and first time participant, Kuwait Concierge Company-Call Center WLL.

    Major tourism development entities including the Kuwait Touristic Enterprises Company (TEC), are launching a number of entertainment and sports projects valued at around US$460 million, while hotel room supply is forecast to rise by almost one-third, with up to 10,000 rooms scheduled to come online by the end of 2015.Jumeirah opened the doors to its Messilah Beach Hotel and Spa late last year and several four and five-star resorts are also set to open this year, including projects from IHG and Millennium while the Government plans to transform Failaka Island and Boubyan Island into top leisure tourism destinations,” Noblet noted.

    TR Global’s November 2014 Hotel Market Overview put year-to-date room occupancy at 51.8% with an average daily rate of US$253.07. Kuwait currently has around 7,256 hotel rooms with a further 1,958 rooms and up to seven contracted hotels and resorts in the pipeline.

    The Aranca report also highlighted the importance of Saudi Arabian visitors as a key source market for Kuwait, with leisure and business travellers making a significant contribution to sector revenues.“Saudis historically opt for Kuwait as a convenient destination for short getaways, Eid vacations etc., and the tourism sector is hugely reliant on this traffic,” said Noblet.

    According to MEED intelligence, the top 10 projects currently under development in the country cover a wide range of activities from a US$416 million investment by the Amir Diwan for the Abdulla Al Salem Cultural Centre and Tamdeen’s US$206 million Al Kout Mall, to the US$200 million Jaber Al Ahmed City Olympic Village and the country’s largest retail development to date, The Avenues, with two further US$150 million apiece phases also making the list.

    “This collectively represents over US$2 billion worth of investment, and ATM will give exhibitors a unique platform to reach out to existing and prospective partners who will help drive new business to the country,” said Noblet.

    The 2015 event will also build on the success of last year’s edition with the announcement of an additional hall adding an additional 2,000 square metres of floor space as Reed Travel Exhibitions looks to add to its record-breaking achievements in 2014. Last year ATM saw total attendance increase by 12% with 33,000 participants from over 131 countries, and business deals signed worth more than US$ 2.1 billion over the four days.
    For more information :arabiantravelmarket.com

    March 2015

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      2017 in review -Top stories

      January 1 : New year nightclub attack leaves 39 dead in Istanbul
      January 20 : Republican billionaire Donald Trump sworn in as 45th US president
      January 23 : Syria peace talks begin in Kazakh capital Astana
      March 29 :United Kingdom officially launches the Brexit process
      April 4 :Syria launches chemical attack killing 90 people
      April 6 : US cruise missiles destroy Syrian air base
      April 9 : Bombings at two churches in Egypt kill dozens
      April 16 : Refugee death toll passes 1,000 in Mediterranean
      April 16 :Turkey says YES to presidential system
      May 6 :Emmanuel Macron elected French president defeating Marine Le Pen
      May 19 :Iran’s President Hassan Rouhani wins re-election
      May 22 : Terrorist attack kills 22 at Manchester concert
      June 5 : Gulf nations severe ties with Qatar
      June 7 :Suicide bombers attack Iranian parliament killing 13 people
      June 14 :London fire kills 71 in the 24-storey Grenfell Tower
      July 4 :North Korean leader Kim Jong-un’s missile ambitions
      July 28 : Pakistan’s top court disqualifies Prime Minister Nawaz Sharif from office
      August 5 :US withdraws from Paris climate change pact
      August 17 :Storms cause record damage in Caribbean and southern United States
      August 25 :Muslim Rohingya start fleeing Rakhine state in Myanmar
      September 15 : NASA’s 13-year Saturn mission ends
      September 20 : Earthquake kills more than 200 in Mexico
      September 24 : Germany’s Chancellor Angela Merkel wins fourth term
      September 26 : Saudi Arabia lifts ban on women driving
      October 1 : Gunman opens fire on Las Vegas music festival killing 59 people
      October 14 : Massive bombing in Somalia’s capital Modadishu kill more than 500 people
      October 24 : China confirms the elevation of President Xi Jinping to the same status as the nation’s founder, Mao Zedong, and Deng Xiaoping, by enshrining ‘Xi Jinping thought’ in the party’s constitution at the 19th National Congress of the Communist Party of China
      October 27 : Catalonia declares independence from Spain
      November 4 : S audi Arabia detains 11 princes, four ministers and ten former ministers in a corruption probe
      November 12 : Iran-Iraq magnitude 7.3 earthquake kills more than 500
      November 15 : Argentine navy submarine disappears with 44 crew on board
      November 21 : Robert Mugabe resigns as Zimbabwe’s president after 37 years in power. His former deputy Emmerson Mnangagwa will become president.
      November 22 : Bosnian Serb army commander Ratko Mladic convicted of genocide in Srebrenica during the 1990s Bosnian War
      November 24 : Gunmen kill hundreds at Sinai mosque in Egypt
      December 4 : Houthi militants assassinate Yemen’s former President Ali Abdullah Saleh
      December 5 : Russia banned from 2018 Winter Olympics for state-sponsored doping
      December 6 : US President Donald Trump recognises Jerusalem as the capital of Israel
      December 17 : Price of one bitcoin reaches a new high of $19,783.06 dollars
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      Top ten most visited cities

      Between January and August 2017, destinations worldwide welcomed 901 million international tourist arrivals (overnight visitors), 56 million more than in the same period of 2016 .The top ten most visited cities are:
      CityVisitors
      HONG KONG26.6 million
      BANGKOK 21.2 million
      LONDON19.2 million
      SINGAPORE16.6 million
      MACAU15.4 million
      DUBAI14.9 million
      PARIS14.4 million
      NEW YORK12.7 million
      SHENZHEN12.6 million
      KUALA LUMPUR12.3 million

      Source: Euromonitor International

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