Thursday, October 26, 2023
Participants from various corners of the globe will delve into a wide array of travel and tourism opportunities, encompassing leisure, business, luxury, and MICE (Meetings, Incentives, Conferences, and Exhibitions) sectors, during the 31st Arabian Travel Market (ATM). The event is scheduled to occur at Dubai World Trade Centre (DWTC) in the UAE from Monday, May 6 to Thursday, May 9, 2024.
According to Statista’s research, the global travel and tourism market is expected to generate $854.7 billion in revenue this year. The global business travel market, valued at $689.7 billion in 2021, is expected to reach $2.1 trillion by 2031, as reported by Allied Market Research. Concurrently, the luxury travel market is projected to surpass $440 billion by the end of this decade, according to research by Coherent Market Insights. Additionally, the MICE (Meetings, Incentives, Conferences, and Exhibitions) segment continues to significantly contribute to the economy, notably in GCC countries like the UAE. The Dubai World Trade Centre (DWTC) recorded an economic output exceeding $3.5 billion across 63 large-scale events in 2022, as per DWTC’s Economic Impact Assessment Annual Report. According to the theme of ATM 2024, “Transforming Travel Through Entrepreneurship,” participants will discuss how the travel, hospitality, and MICE sectors are fostering sustainable development and economic growth in destinations, aviation, and hospitalityThe UAE expects to support 770,000 jobs by 2027.
At ATM 2024, sustainable development remains a crucial focus, building on the net-zero commitments from its 30th edition. Dubai’s Department for Economy and Tourism (DET), ATM’s Destination Partner, will highlight continuous efforts in environmental conservation. Initiatives like Dubai Sustainable Tourism, Dubai Can, and Dubai Carbon Calculator, along with the city hosting COP28, create a conducive environment for ATM attendees exploring responsible tourism opportunities in the UAE and the broader Middle East.
According to a Magnitt report from Q1 2023, Saudi Arabia ranked first in the region for venture capital investments in startups, while the UAE topped the list for exits. Therefore, the next ATM edition will provide the ideal setting for panelists, speakers, and audience members to discuss business and investment opportunities for entrepreneurs in the Middle East’s travel and tourism industry.