Investment in Qatar’s tourism sector expected to reach $4bn by 2028: Ezdan
February 02 2020 08:11 PM
Westbay
Westbay

Investment in Qatar’s tourism sector is expected to reach $4bn, while tourism's share in the country’s GDP will reach $36.57bn by 2028, a new report by Ezdan has shown.

As per the 2030 strategy planned by the National Tourism Council, Qatar plans to attract 5.6mn tourists by 2023, the real estate company said in a report yesterday.

The country’s tourism and hospitality sectors are expected to witness a significant boom as a result of fulfilling the requirements of FIFA that has demanded 60,000 hotel rooms be provided by 2022, Ezdan noted in its monthly report on Sunday.

The tourism sector’s performance indicators reflected an increase of hotel room supply of 8% during the first half of 2019, while the demand on hotel accommodation showed an annual increase of 19%. The average room rate decreased by 5% for all hotels and hotel apartments.

Revenue per available room increased by 3% during the first half of 2019 compared to the same period in the previous year.

Ezdan’s monthly report states that real estate in the hospitality sector will witness its “highest-yet boom” shortly as the FIFA World Cup Qatar 2022 approaches, thanks to the “openness policy” adopted by Qatar, which is aimed at attracting thousands of tourists.

Qetaifan Projects, a subsidiary of Katara Hospitality, aims to develop and operate some 16 floating hotels near the shores of Qetaifan Island North. The projects will provide accommodation for spectators within the fan villages during the FIFA World Cup Qatar 2022.

The hotels will have a unique design; 72-metre-long and 16-metre-wide, each consisting of 101 guest rooms, offering a total of 1,616 hotel rooms.

The hotels will be constructed on large-scale marine structures that can still be beneficial after the World Cup. They can simply be steered to land on any shore and do not require any structures. They can also be placed on any coastal location.

Qetaifan Island North, located off Lusail city, is the first entertainment island in Qatar and features six beaches; which makes it the city’s distinct waterfront destination. The island spans approximately 1.3mn square meters with 830,000 square metres of attractions, Ezdan report noted.

It said nationals will benefit from 10 new construction contracts for road and infrastructure development with a total value of about QR4bn as some 8,400 housing plots in ten regions across Qatar, owned by Qataris will be utilised.

Besides resulting in a construction market boom, it will push up the real estate price index, Ezdan noted.




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