The 31st edition of Arabian Travel Market (ATM) is set to take place at the Dubai World Trade Centre (DWTC) in the UAE from May 6 to May 9, 2024. Participants from around the world will delve into travel and tourism prospects spanning leisure, business, luxury, and MICE (Meetings, Incentives, Conferences, and Exhibitions).<\/p>\n\n\n\n
Research conducted by Statista projects that the global travel and tourism market’s revenue will reach $854.7 billion this year. With a forecasted compound annual growth rate (CAGR) of 4.42% from 2023 to 2027, this sector is expected to surpass the trillion-dollar milestone within the next four years.<\/p>\n\n\n\n
Allied Market Research valued the global business travel market at $689.7 billion in 2021, predicting that the segment would grow to $2.1 trillion by 2031. The global luxury travel market, meanwhile, is on course to pass $440 billion by the end of this decade, according to research from Coherent Market Insights. The MICE segment also continues to make valuable contributions in GCC countries such as the UAE, where DWTC\u2019s most recent Economic Impact Assessment (EIA) Annual Report estimated that the venue\u2019s total economic output \u2013 across 63 large-scale events \u2013 exceeded $3.5 billion in 2022.<\/p>\n\n\n\n
In line with ATM 2024\u2019s theme of \u2018Transforming Travel Through Entrepreneurship\u2019, attendees will consider how the segments of leisure, business, luxury and MICE are driving economic growth and sustainable development across destinations, hospitality and aviation, creating fresh opportunities for entrepreneurs and investors from across the Middle East and beyond.<\/p>\n\n\n\n
Danielle Curtis, Exhibition Director, Arabian Travel Market, said: \u201cHolidaymakers represent a crucial focus for the Middle East\u2019s travel community, but leisure is only one component of a much bigger picture. Business, luxury and MICE travel are also making significant contributions to economic growth and sustainable development, with Statista predicting a global market volume of more than $1 trillion by 2027.<\/p>\n\n\n\n
\u201cIt is therefore no surprise that the travel and tourism sector is creating unprecedented opportunities for entrepreneurs and investors, thousands of whom will showcase their innovations, exchange ideas and forge new partnerships at ATM 2024,\u201d she added.
The travel and tourism sector is on course to contribute $49.18 billion to the UAE economy alone in 2023, according to figures released by the World Travel and Tourism Council (WTTC). This figure is predicted to reach $64.12 billion by 2033, accounting for an impressive 10.2 per cent of the nation\u2019s GDP.<\/p>\n","protected":false},"excerpt":{"rendered":"
The 31st edition of Arabian Travel Market (ATM) is set to take place at the Dubai World Trade Centre (DWTC) in the UAE from May 6 to May 9, 2024. Participants from around the world will delve into travel and tourism prospects spanning leisure, business, luxury, and MICE (Meetings, Incentives, Conferences, and Exhibitions). Research conducted […]<\/p>\n","protected":false},"author":2,"featured_media":270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-269","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-travel-news"},"_links":{"self":[{"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/posts\/269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=269"}],"version-history":[{"count":2,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/posts\/269\/revisions"}],"predecessor-version":[{"id":272,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/posts\/269\/revisions\/272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=\/wp\/v2\/media\/270"}],"wp:attachment":[{"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/responsibletravelworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}